Ibidapo Lawal Unveils 150 Million-a-year Aluminum Plant In Nigeria

Neveah Limited's aluminum and copper recycling plant in Mowe, Ogun State, will generate 150 million annually, boosting Nigerias industrial sector.

The plant will create over 500 jobs and export recycled ADC 12 aluminum to car manufacturers in Japan and Indonesia.

Ogun's proximity to major ports, skilled labor, and gas supply made it the ideal location for Neveah's plant, ensuring cost-effective operations.

Neveah Limited, a commodities trading company founded by Nigerian businessman Ibidapo Lawal, has launched an aluminum and copper recycling plant in Mowe, located in Ogun State, South West Nigeria. The plant, which is expected to generate 150 million in annual revenue once fully operational, will play a significant role in boosting Nigerias industrial sector.

The plant is also set to create over 500 jobs, further solidifying Ogun States position as a key industrial hub in Nigeria. It will focus on recycling aluminum scraps from sources like car engines and cans, turning them into high-quality ADC 12, which will be exported to car manufacturing companies in Asia, including Japan and Indonesia.

Ibidapo Lawal, Neveahs Managing Director and CEO, shared these details after a meeting with Ogun State Governor Dapo Abiodun. He explained that the recycling plant, once operational, would generate over 150 million in annual revenue and provide jobs for more than 500 people. He emphasized that the project would also contribute to Nigerias non-oil export sector, accounting for approximately 2.53 percent of the countrys total non-oil exports.

Lawal explained that while the plant was initially planned for northern Nigeria, Ogun States proximity to major ports like Tincan, Apapa, and Lekki made it the ideal location. He also noted that the regions rising property values and investment potential were key factors in the decision. Ogun is very close to Lagos, and the return on investment here is significant, Lawal said.

The decision to set up the plant in Ogun was also influenced by the availability of skilled labor, a reliable infrastructure network, and abundant gas supply. In other states, we might have to rely on diesel to power our plant, but Ogun offers a more cost-effective solution with its gas availability, he added.