How Neveah is Transforming Waste into Wealth to Boost Non-oil Exports through Its Recycling Plant 

Neveah Limited, a leading indigenous commodities export company, is set to transform Nigeria’s industrial landscape with its new 44,000MT aluminium and copper recycling plant in Ogun State. Chiemelie Ezeobi writes that this multi-billion Naira facility will reduce raw material imports, boost non-oil exports by $100 million annually, and drive sustainable industrialisation. With a strong focus on environmental impact, it aligns with global ESG standards while reinforcing Nigeria’s role in the green economy

In a bold step towards sustainability and economic growth, Neveah Limited, a leading indigenous commodities export company, is set to commission its state-of-the-art aluminium and copper recycling plant in Ogun State. With a production capacity of 36,000 metric tonnes of aluminium and 8,100 metric tonnes of copper annually, this multi-billion Naira facility is not just an industrial milestone—it is a revolution in Nigeria’s manufacturing sector.

The plant, which will process 3,000 metric tonnes of aluminium and 675 metric tonnes of copper every month, promises to reduce the country’s reliance on raw material imports. By leveraging recyclable materials, it will conserve energy, reduce waste, and contribute significantly to foreign exchange (FX) earnings through exports to Europe, North America, Asia, and Africa.

A Boon for Nigeria’s Economy

Beyond its environmental impact, the Neveah Recycling Plant is a catalyst for economic transformation. It is expected to generate over $100 million in annual revenue, boosting Nigeria’s non-oil exports and strengthening the country’s industrial base. Additionally, the facility will contribute to national tax revenues through corporate taxes, VAT, and PAYE contributions.

Job creation is another key benefit of this initiative. More than 400 direct jobs will be available, with an additional 6,000 indirect employment opportunities in logistics, raw material supply, and ancillary services. Neveah Limited also prioritises inclusivity, committing to a 40% female workforce representation.

Sustainability at Its Core

As industries worldwide transition to more eco-friendly operations, Neveah Limited is taking the lead in Nigeria. The recycling plant is expected to cut CO₂ emissions by an estimated 377,460 tonnes annually—equivalent to removing 82,000 cars from the road. Additionally, it will conserve 616 million kWh of energy per year, enough to power 57,500 households.

Waste reduction is another critical advantage. By diverting 55,400 metric tonnes of scrap from landfills and preserving approximately 549,000 metric tonnes of raw materials, the facility will help curb environmental degradation associated with mining activities.

A Vision for the Future

For Neveah Limited, this project is about more than just profitability—it represents a commitment to sustainable industrialisation and global competitiveness. Speaking on the significance of the initiative, the company’s CEO, Mr. Ibidapo Lawal, stated: “Our vision for the Neveah Recycling Plant extends beyond profitability; we are committed to sustainable industrialisation, economic empowerment, and global competitiveness. This facility represents a bold step towards an environmentally responsible future for Nigeria and Africa.”

Driving Nigeria’s Non-Oil Growth

As Nigeria continues its push for economic diversification, Neveah Limited’s investment in recycling aligns with the nation’s low-carbon economy goals and global Environmental, Social, and Governance (ESG) standards. The plant will not only enhance local raw material processing but also strengthen Nigeria’s position in the global non-oil sector.

With commissioning set for Q1 2025, Neveah Limited remains steadfast in its mission to transform industrial recycling, drive sustainable development, and create lasting economic value. As the world moves towards greener practices, this facility stands as a testament to Nigeria’s readiness to embrace a sustainable, non-oil-driven future—one recycled material at a time.