Neveah Limited, a commodities trading company, has launched an aluminum and copper recycling plant in Mowe, Ogun State.
The plant is expected to generate $150 million in annual revenue and create over 500 jobs, significantly boosting Nigeria’s industrial sector.
By recycling aluminium scraps from car engines and cans into high-quality ADC 12, the plant will export materials to car manufacturers in Japan and Indonesia.
Ogun State’s proximity to major ports, skilled labour, and abundant gas supply made it an ideal location for the project.
This marks the first production run of aluminum ingots, which achieved an impressive 85.1% purity level, an indicator of the company’s commitment to delivering premium, export-ready metals.
Describing the milestone as a critical step in redefining Africa’s role in the global circular economy, Ibidapo Lawal, Chief Executive Officer of Neveah Limited, noted that the facility is more than a recycling plant, it is a symbol of innovation, sustainability, and economic empowerment.
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“This milestone is more than just production; it’s a glimpse into our future. We are not just recycling; we are redefining how Africa contributes to the global circular economy”, Lawal said.
The facility, a multi-billion Naira investment, is equipped with cutting-edge technology to ensure all ingots produced meet or exceed global quality standards.
The company says the plant is primed to produce over 44,000 metric tons of aluminum and copper annually, setting the stage for Neveah to generate more than $150 million in export revenue each year.
Beyond economic returns, Lawal noted that the plant will make a far-reaching socio-economic and environmental impact, including the creation of 500 direct and over 6,000 indirect jobs, and an annual reduction of over 377,000 tons of carbon emissions.
“This aligns with national and global targets for sustainable industrialization and climate action”, he added.
According to him, the company recently made headlines by ranking first in the Metals & Mining category and 21st overall on the Financial Times’ 2025 list of Africa’s Fastest-Growing Companies.
Industry stakeholders have hailed Neveah’s achievement as a significant contribution to Nigeria’s economic diversification drive and a shining example of how innovative private-sector investments can power both local development and global competitiveness.
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