FREEE Recycle, a company specializing in tyre waste recycling and rubber manufacturing, has highlighted the significant yet largely untapped potential within the waste recycling sector.

The company announced its ambitious goal of recycling two million tyres annually, reflecting a commitment to environmental sustainability.

In 2023, the value of waste tyres imported into Nigeria reached approximately N108 billion, underscoring the economic implications of tyre waste management.

During a media briefing in Lagos to mark World Cleanup Day 2024, Managing Director Ifedolapo Runsewe emphasized the company's mission to mitigate the environmental hazards posed by discarded tyres.

Runsewe stated, “We saw an opportunity to transform this challenge into a solution. Today, as pioneers in tyre waste management, we have contributed to the country’s economic growth and employment opportunities while aligning our operations with 12 of the 17 UN Sustainable Development Goals (SDGs).”

Since its inception, FREEE Recycle has successfully recycled over 350,000 tyres and aims to significantly increase this figure.

The company has evolved into a commercially viable entity since launching its pilot program in 2020, demonstrating that tyre waste can be effectively repurposed into high-quality products. This not only helps reduce environmental pollution but also supports sustainable economic development.

Dumebi Okeke, Team Lead for Sustainability & Innovation at FREEE Recycle, pointed out that the tyre recycling industry in the United States is valued at approximately $12 billion.

He noted that given Nigeria's population size, there exists substantial potential for tyre recycling to enhance the nation’s GDP and promote sustainable growth.