NEVEAH’S 44,000MT Recycling Plant To Boost Non-oil Exports By $100m Yearly

Neveah Limited, a leading indigenous commodities export company, proudly announces the imminent commissioning of its state-of-the-art aluminum and copper recycling plant in Ogun State, Nigeria. These multi-billion Naira facilities mark a significant milestone in Nigeria’s industrial and environmental landscape, reinforcing the company’s commitment to sustainability, economic growth, and global standards.

Under the visionary leadership of Ibidapo Lawal, this cutting-edge facility is set to produce 36,000 metric tons of aluminum and 8,100 metric tons of copper annually. With a monthly production capacity of 3,000 metric tons for aluminum and 675 metric tons for copper, the plant will cater to both local and international markets, reducing Nigeria’s dependence on primary raw material imports while boosting foreign exchange (FX) earnings through exports to Europe, North America, Asia, and Africa.

The Neveah Recycling Plant is not only a game-changer in Nigeria’s industrial sector but also a catalyst for economic growth. The facility is projected to generate over $100 million in annual revenue while significantly contributing to national tax revenues through corporate taxes, VAT, and PAYE contributions.

The plant will create more than 400 direct jobs and up to 6,000 indirect employment opportunities in logistics, raw material supply, and ancillary services. Neveah Limited prioritises community employment and inclusivity, with a commitment to achieving a 40 per cent female workforce representation.

As global industries shift towards eco-friendly production, Neveah Limited is at the forefront of sustainable industrialisation. The recycling plant is set to reduce CO₂ emissions by an estimated 377,460 tons annually, equivalent to removing 82,000 cars from the road.

RELATED

NCAA Names Max Air ‘Most Unresponsive Domestic Airline’ To Passenger Complaints

2 hours ago

Savannah Energy Empowers 100 Students

8 hours ago

Furthermore, the facility will conserve 616 million kWh of energy per year, enough to power 57,500 households, while diverting 55,400 metric tons of scrap from landfills and preserving approximately 549,000 metric tons of raw materials, reducing environmental degradation from mining activities.

This project underscores Neveah Limited’s dedication to supporting Nigeria’s economic diversification

agenda. By strengthening the nation’s presence in the global non-oil sector, the recycling plant will enhance industrial growth, foster local raw material processing, and align with Nigeria’s low-carbon economy goals and global Environmental, Social, and Governance (ESG) standards.

Ibidapo Lawal, the driving force behind this initiative, emphasised the strategic importance of the

Plant: “Our vision for the Neveah Recycling Plant extends beyond profitability; we are committed to sustainable industrialisation, economic empowerment, and global competitiveness. This facility represents a bold step towards an environmentally responsible future for Nigeria and Africa.”

As the commissioning date approaches in Q1 2025, Neveah Limited remains steadfast in its mission to transform industrial recycling, create lasting economic value, and drive sustainable development in Nigeria and beyond. Together, we can build a greener future, one recycled material at a time.