Neveah Limited, the Nigeria-based commodities export company, announced that its aluminium and copper waste recycling plant in Mowe, Ogun State, is set to generate significant employment opportunities. According to Ibidapo Lawal, the company’s CEO, the facility will create 40,000 direct jobs and an additional 6,000 indirect jobs for Nigerians.
Lawal also highlighted the plant’s environmental impact, stating it will cut Nigeria’s carbon emissions by approximately 377,460 tonnes annually — the equivalents of taking 82,000 cars off the road. Lawal described the facility as a major milestone for Nigeria’s industrial and environmental landscape, emphasising Neveah Limited’s dedication to sustainability and economic progress.
“The facility is projected to generate over $100 million in annual revenue while significantly contributing to national tax revenues through corporate taxes, VAT, and PAYE contributions. The plant will create more than 400 direct jobs and up to 6,000 indirect employment opportunities in logistics, raw material supply, and ancillary services,” added Lawal.
Set to launch in the first quarter of 2025, the plant is expected to drive industrial growth, promote local raw material processing, and support Nigeria’s transition to a low-carbon economy. He added that the plant is expected to generate over $100 million in annual revenue, with an output of 36,000 metric tonnes of aluminium and 8,100 metric tonnes of copper yearly.
“With a monthly production capacity of 3,000 metric tons for aluminium and 675 metric tons for copper, the plant will cater to both local and international markets, reducing Nigeria’s dependence on primary raw material imports while boosting foreign exchange (FX) earnings through exports to Europe, North America, Asia, and Africa. The Neveah recycling plant is not only a game-changer in Nigeria’s industrial sector but also a catalyst for economic growth,” the statement reads.
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