Nigeria’s Plastic Crisis: Unity Bank Webinar Urges Urgent Solutions
By Patience Ikpeme
Environmental activists and climate change advocates utilized a recent webinar hosted by Unity Bank to demand immediate and coordinated action against Nigeria’s escalating plastic pollution crisis. They described it as one of the most significant environmental threats currently confronting the nation.
The call was made during an event marking this year’s World Environment Day, organized by Unity Bank’s Sustainability Team. The webinar aimed to develop innovative strategies to curb plastic pollution in Nigeria, aligning with the global theme: “Ending Plastic Pollution.”
Mr. Usman Abdulkadir, Executive Director, Risk Management, Unity Bank Plc, speaking at the event, stated the bank’s dedication to sustainability. He explained that environmental issues like plastic pollution carry profound risk implications for businesses and communities.
“Environmental degradation is increasingly a business risk, not just a corporate social concern,” Mr. Abdulkadir said. “We must all begin to view environmental stewardship as a duty that cuts across sectors – finance, government, industry, and civil society. Unity Bank remains committed to integrating ESG principles into its risk frameworks and sustainability agenda.”
Guest speakers at the webinar included leading waste management entrepreneurs and environmental activists, such as Sunday Kolawole Sholanke, Co-founder/CEO of PETsPoint Recycling Nigeria, and Omoh Alokwe, Co-founder/CEO of Street Waste Company Limited.
Mr. Sholanke, speaking at the webinar, expressed concern about the alarming volume of plastic waste in Nigeria. He cited estimates indicating that the country generates approximately 596 million metric tonnes of waste annually, with a striking 88% of it neither reclaimed nor recycled.
“Nigeria ranks as the 9th highest contributor to global plastic pollution. Much of Nigeria’s plastic waste ends up in landfills, drainage systems, and water bodies, causing extensive environmental damage and posing serious health risks,” he explained.
He also presented compelling global statistics: “Over one million plastic bottles and 10 million plastic bags are produced every minute. In 2020 alone, eight million tons of plastic bottles were produced globally, with less than 30% collected and under 10% recycled. The rest is dumped, burned, or abandoned in the environment, worsening risks of flooding, climate disruption, and disease.”
Mr. Sholanke identified poor waste management culture, low public awareness, and a lack of community collection infrastructure as key factors exacerbating Nigeria’s plastic waste crisis. He appealed to the financial services sector to be more proactive, urging banks to invest in green financing by increasing access to affordable credit for green businesses and eco-friendly initiatives.
Also speaking, Omoh Alokwe conveyed the crucial role of regulators in strengthening enforcement and updating policy frameworks to curtail harmful practices that fuel the global plastic crisis.
Mr. Ibukun Coker, Head of Strategy and Innovation at Unity Bank Plc, also addressed the participants, stating the bank’s commitment to sustainable practices and environmental protection. He stressed the financial sector’s role in driving meaningful change.
“Plastic pollution is not just an environmental issue, it is an economic and public health crisis,” said Mr. Coker. “At Unity Bank, we believe that sustainability should be more than a policy; it must be embedded in how we operate, the projects we finance, and the partnerships we build.”
The webinar served as a platform for extensive dialogue on sustainable actions and innovative solutions to mitigate the escalating threat of plastic pollution and promote environmental protection. Unity Bank has consistently advocated for environmental causes, including its annual Earth Day partnerships with non-profits such as RESWAYE for beach clean-up initiatives like the Royal Beach in Elegushi, Lagos, as part of its mission to protect marine ecosystems. In its most recent Earth Day campaign, the bank challenged every staff member across 32 states to plant a tree in their locality, fostering a grassroots reforestation movement and reinforcing environmental awareness.
