Ogun State Secures Another Major Industrial Milestone with $150M Recycling Plant, 500 Jobs in View
In a major boost to Nigeria’s industrial and non-oil export sectors, Neveah Limited has officially commenced the development of a state-of-the-art aluminium and copper ingots recycling plant in Mowe, Ogun State. The $150 million facility is poised to reshape the recycling and export landscape, creating over 500 direct jobs and significantly contributing to Nigeria’s GDP through sustainable manufacturing.
Mr. Ibidapo Lawal, Managing Director and CEO of Neveah Ltd, disclosed this after a high-level meeting with the Governor of Ogun State, Prince Dapo Abiodun, on Monday at the governor's office in Oke-Mosan, Abeokuta.
According to Lawal, the facility is designed to recycle aluminium scraps—including car engine parts, cans, and other metal waste—into ADC 12 aluminium ingots and high-quality copper ingots for export. Target markets include leading automobile manufacturing hubs in Asia, such as Japan and Indonesia.
> "At full capacity, the plant will generate over $150 million annually in export value, representing approximately 2.53% of Nigeria’s total non-oil exports. More importantly, it will create employment for over 500 Nigerians and drive local economic growth," Lawal emphasized.
Neveah's decision to establish the plant in Ogun State was strategic. The state's close proximity to Nigeria’s key seaports—Apapa, Tin Can Island, and the Lekki Deep Sea Port—ensures seamless logistics for export operations. In addition, the abundance of natural gas, which powers the plant more cost-effectively than diesel, was a major factor influencing the location decision.
> “Gas availability in Ogun was a game-changer. Running our plant on gas drastically reduces operational costs compared to diesel. Plus, the state boasts a strong skilled labor pool, excellent infrastructure, and a government that is pro-business,” Lawal noted.
Originally planned for a northern state, the company ultimately chose Ogun due to its proximity to Lagos—the nation's commercial capital—and its rapidly appreciating real estate market, which enhances capital investment returns.
During the meeting, Governor Abiodun reportedly expressed strong enthusiasm and support for the initiative, commending the private sector’s growing interest in Ogun State. He reaffirmed his administration's commitment to creating a business-friendly environment that attracts local and international investors.
> “It was refreshing to meet a governor so invested in sustainable economic development and job creation. His hands-on support gives us confidence that this project will thrive,” Lawal added.
The new plant aligns with the federal government’s push to diversify the economy and ramp up non-oil exports. As industries in Nigeria continue to shift toward sustainable and value-added production, Ogun State is steadily cementing its position as an industrial powerhouse and a key driver of national growth.
Stay tuned to our blog for exclusive updates on Nigeria’s evolving industrial sector and how emerging investments are shaping the future of economic sustainability.
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