Waste recycling plant to create 6,000 jobs in Ogun, reduce carbon emissions

Neveah Limited, a commodities export company, says its aluminium and copper waste recycling plant in the Mowe area of Ogun will create 6,000 indirect jobs when operational.

In a statement on Saturday, Ibidapo Lawal, the company’s chief executive officer (CEO), said the facility will also create 40,000 direct jobs for Nigerians.

Lawal noted that the recycling plant will also reduce Nigeria’s carbon emissions by about 377,460 tons annually, equivalent to removing 82,000 cars from the road.

“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 statement reads.

“The Neveah recycling plant is not only a game-changer in Nigeria’s industrial sector but also a catalyst for economic growth.”

He said the facility is a significant milestone in Nigeria’s industrial and environmental landscape, which reinforces the company’s commitment to sustainability and economic growth.

He added that the plant will generate more than $100 million in annual revenue and produce 36,000 metric tons of aluminium and 8,100 metric tons of copper yearly.

“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,” Lawal said.

“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.”

The plant, which will be inaugurated in the first quarter of 2025, is envisaged to boost industrial growth, foster local raw material processing, and align with Nigeria’s low-carbon economy goals.