Ogun State is set to welcome a new private-sector aluminium and copper recycling plant, which is expected to generate up to $150 million in annual revenue once fully operational. The facility, established by Neveah Ltd, is located in Mowe and marks another milestone in the state’s growing industrial landscape.
Specialising in the recycling of aluminium scrap, including material from car engines, beverage cans, and other metal sources, the plant will produce high-grade ADC 12, which will be exported to car manufacturing giants across Asia, including Japan and Indonesia. The announcement was made through a statement posted on the official X (formerly Twitter) account of the Ogun State Government on Tuesday, following a meeting between Governor Dapo Abiodun and Neveah Ltd’s Chief Executive Officer, Mr Ibidapo Lawal.
“The current influx of investors to Ogun State has yet to abate, as another recycling plant for the production of aluminium and copper ingots has been established in the state,” the government stated.
Mr Lawal explained that Mowe had been strategically chosen for the plant’s location due to its proximity to major ports such as Tincan, Apapa, and Lekki. He also pointed to Ogun’s access to affordable gas supplies, a skilled workforce, and a strong road network as decisive factors. Although the project was originally slated for northern Nigeria, Neveah Ltd ultimately opted for Ogun State, seeing greater opportunities there. Lawal expressed confidence that the plant would significantly contribute to the industrial advancement of both the state and the country at large.
Governor Dapo Abiodun reiterated his administration’s commitment to fostering an environment attractive to investors. He emphasised that initiatives like Neveah Ltd’s plant would be vital to maintaining Ogun’s momentum as a leader in industrial development. Once operational, the plant is expected to create over 500 jobs, further strengthening Ogun’s position as a major industrial hub within Nigeria.
In recent months, Ogun State has witnessed a flurry of major investment announcements aimed at boosting its industrial sector. In March 2024, Dangote Group revealed plans to construct Nigeria’s largest port within the Olokola Free Trade Zone. Meanwhile, a strategic partnership with Brazilian energy firm Ambar Energia has been established to develop power plants designed to enhance industrial capacity and food security. Additionally, in October 2024, Inner Galaxy Steel Company pledged a $300 million investment towards a new steel plant in the state, although there have been no updates regarding the project’s current status.
