Ogun State: Neveah Limited is set to commission a new aluminium and copper recycling plant in early 2025, aiming to enhance Nigeria’s green economy. The facility will create 400 direct jobs, reduce emissions, and promote sustainable industrialisation while contributing significantly to the non-oil export sector.
Neveah Limited, a prominent indigenous commodities export company in Nigeria, is poised to significantly alter the industrial landscape of the nation with the introduction of a new aluminium and copper recycling plant located in Ogun State. This state-of-the-art facility, boasting an annual production capacity of 36,000 metric tonnes of aluminium and 8,100 metric tonnes of copper, represents a formidable investment that promotes sustainable industrialisation in line with global standards.
Scheduled for commissioning in the first quarter of 2025, the multi-billion Naira plant is expected to be instrumental in reducing Nigeria’s dependence on raw material imports. By utilising recyclable materials, the recycling plant aims to conserve energy, lower waste, and contribute an estimated $100 million to the country’s non-oil exports annually. In doing so, Neveah Limited is positioning itself as a key player in enhancing Nigeria’s role in the green economy, which is becoming increasingly critical on a global scale.
The facility’s operational capabilities include processing 3,000 metric tonnes of aluminium and 675 metric tonnes of copper each month. This process is projected to yield significant environmental benefits, including a reduction in carbon dioxide emissions by approximately 377,460 tonnes each year, which is comparable to taking 82,000 vehicles off the roads. Furthermore, the plant is set to save 616 million kWh of energy annually, sufficient to power 57,500 households, thus highlighting its commitment to sustainability.
Aside from its environmental advantages, the establishment of the recycling plant is anticipated to be a significant economic boon for Nigeria. The project is expected to generate over 400 direct job opportunities, alongside an estimated 6,000 indirect jobs within logistics, raw material provision, and related services. Neveah Limited has also committed to promoting inclusivity, aiming for a workforce comprised of 40% women.
Neveah Limited’s CEO, Mr. Ibidapo Lawal, emphasised the broader vision behind the project, stating, “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.” This statement underscores the company’s intent to not only enhance economic performance but also align with sustainable practices that contribute to a more eco-conscious industrial sector.
In addition to its potential for economic growth, the plant will play an essential role in curtailing waste by diverting 55,400 metric tonnes of scrap from landfills and conserving approximately 549,000 metric tonnes of raw materials. Such measures reflect a significant effort towards minimising the environmental degradation commonly associated with mining practices.
As Nigeria continues its drive towards economic diversification, Neveah Limited’s investment in the recycling sector aligns with the nation’s objectives of fostering a low-carbon economy. The recycling plant signifies a substantial shift towards local raw material processing and strengthens Nigeria’s position in the burgeoning global non-oil market.
By embracing a more sustainable industrial model, Neveah Limited seeks to create enduring economic value while leading Nigeria toward a greener future. The upcoming commissioning of the facility highlights the company’s dedication to transforming industrial recycling and the sustainable development of Nigeria’s industrial economy.
Source: Noah Wire Services
