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Neveah Unveils $150m Aluminum, Copper Plant in Ogun to Boost Non-Oil Exports
Neveah Limited has announced the establishment of a state-of-the-art recycling facility dedicated to producing aluminum and copper ingots in Ogun State.....KINDLY READ THE FULL STORY HERE▶
Speaking after a strategic meeting with Governor Dapo Abiodun at the governor’s office in Abeokuta, the company’s Managing Director and Chief Executive Officer, Mr. Ibidapo Lawal, revealed that the plant, located in Mowe, is poised to significantly boost the state’s economy. Once fully operational, the facility is expected to generate over $150 million annually and create employment for more than 500 Nigerians.
Lawal explained that the plant will process aluminum scraps from car engines, beverage cans, and various other metal sources into ADC 12 ingots. These will be exported to international automobile manufacturers in countries such as Japan and Indonesia.
He emphasized that the decision to site the project in Ogun, rather than its originally intended northern location, was influenced by the state’s strategic advantages — including proximity to key ports such as Tincan, Apapa, and Lekki, as well as better return on investment prospects due to rising property values.
“Ogun’s closeness to Lagos, availability of skilled labor, strong infrastructure, and access to affordable energy — particularly gas — were major factors in our location choice,” Lawal stated. “In contrast to other regions where diesel would be the primary energy source, Ogun provides a more cost-efficient solution.”
The CEO further mentioned that his visit to the governor was to provide updates on the project’s progress and to seek continued government support. He praised Governor Abiodun’s investment-friendly stance and proactive engagement with the private sector.
“It’s encouraging to work with a state leader who prioritizes development, promotes investment, and truly listens to industry stakeholders,” he added.
The recycling plant is expected to contribute approximately 2.53% to Nigeria’s non-oil export figures, reinforcing the state’s position as a growing industrial hub.
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