WasteXchange Limited has expressed that its waste recycling model contributes to poverty eradication, empowerment of women and youth, community involvement, environmental sustainability, and overall national progress. The company's management made this statement while receiving commendation from the Lagos State Government for revolutionizing plastic waste management during the first-year anniversary of WasteXchange. The initiative was co-founded by Mrs. Oluwatoyin Fashola and Mrs. Yewande Soyannwo.

During her welcome address, Mrs. Fashola, the Managing Director of SC Facilities Management, described the company as a "social enterprise dedicated to promoting effective waste management and a cleaner environment in Nigeria."

Fashola explained, "WasteXchange serves as a catalyst for encouraging recycling by transforming everyday waste into valuable resources at our recycling hub situated in Oniri, Lagos."

"Our organization operates an incentive and cash reward program that collects recyclable waste materials from registered customers, waste pickers, residential estates, corporate entities, and others. In return, we offer them rewards based on the volume of waste they contribute, which they can accumulate and exchange for cash or a wide range of household items available through our reward system."

Furthermore, she revealed that the introduction of the Neighbourhood WasteXchange, in partnership with the Lagos State Waste Management Agency, aimed to "decrease the amount of waste reaching the landfill and prevent waste from ending up in drains."

As per the statement, the occasion also marked the official launch of the grants provided by the Coca-Cola Foundation, which included a bailing machine weighing 500 kilograms, a 75kva scale, and working capital, all bestowed upon WasteXchange.

Addressing the anniversary ceremony, Dr. Dolapo Fasawe, the General Manager of the Lagos State Environment Protection Agency, expressed pride in the partnership with WasteXchange. She emphasized that effective waste management facilitated their mission of environmental protection while also contributing to the economy and public health.

Fasawe highlighted the recyclability of plastics, stating that they possess high potential for recycling.