Neveah Limited, an Indigenous commodities export company, has announced the imminent commissioning of its state-of-the-art aluminium 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 leadership of Mr. Ibidapo Lawal, this cutting-edge facility is set to produce 36,000 metric tons of aluminium and 8,100 metric tons of copper annually.
With a monthly production capacity of 3,000 metric tons for aluminium 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 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 is also expected to create more than 400 direct jobs and up to 6,000 indirect employment opportunities in logistics, raw material supply, and ancillary services.
According to Neveah Limited, it prioritizes 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.
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.
According to Lawal, “Our vision for the Neveah Recycling Plant extends beyond profitability; we are committed to sustainable industrialization, economic empowerment, and global competitiveness. This facility represents a bold step towards an environmentally responsible future for Nigeria and Africa.”
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