Neveah Limited to Launch Aluminium and Copper Recycling Plant in Nigeria
Neveah Limited, a Nigeria-based commodities export company, has announced plans to open an aluminium and copper waste recycling plant in Mowe, Ogun State. The facility is expected to create 40,000 direct jobs and an additional 6,000 indirect jobs, according to CEO Ibidapo Lawal.
Lawal emphasized the plant’s environmental benefits, stating it will reduce Nigeria’s carbon emissions by approximately 377,460 tonnes annually—the equivalent of removing 82,000 cars from the road. He described the project as a major milestone for Nigeria’s industrial and environmental sectors, reinforcing Neveah Limited’s commitment to sustainability and economic progress.
The facility is projected to generate over $100 million in annual revenue while contributing significantly to national tax revenues through corporate taxes, VAT, and PAYE contributions. It will also enhance local industrial growth by promoting domestic raw material processing and reducing reliance on imports.
Scheduled to launch in the first quarter of 2025, the plant will have an annual output of 36,000 metric tonnes of aluminium and 8,100 metric tonnes of copper. With a monthly production capacity of 3,000 metric tonnes for aluminium and 675 metric tonnes for copper, the facility aims to serve both domestic and international markets. Neveah plans to export processed materials to Europe, North America, Asia, and Africa, thereby boosting Nigeria’s foreign exchange earnings.
“With this plant, we are positioning Nigeria as a key player in the global metals recycling industry, reducing dependence on primary raw material imports while fostering sustainable industrialization,” the company stated.
