Ogun State continues to attract a wave of major investments, with the latest being a multi-million dollar metal recycling facility established by Neveah Limited for the production of aluminium and copper ingots.
The Managing Director and Chief Executive Officer of Neveah Ltd, Mr. Ibidapo Lawal, disclosed this on Monday after a courtesy meeting with Governor Dapo Abiodun at his office in Oke-Mosan, Abeokuta.
Lawal revealed that the plant, located in Mowe, is designed to recycle aluminium scraps from car engines, cans, and other metallic waste into ADC 12 ingots, which would then be exported to automobile manufacturers in Asia, including Japan and Indonesia.
“This project, when fully operational and at full capacity, is expected to generate over $150 million annually,” Lawal said. “It will also create over 500 direct jobs for Nigerians and contribute significantly to the development of Ogun State and the country at large.”
He further emphasized the economic impact of the plant, stating, “The plant alone will account for about 2.53 percent of Nigeria’s total non-oil export, which is a big deal for the diversification of the nation’s economy.”
Explaining the rationale behind choosing Ogun over other regions, Lawal said the state’s strategic location and infrastructure were deciding factors.
“Originally, the project was intended to be sited in the northern part of the country,” he noted. “But we opted for Ogun because of its proximity to key ports—Tincan, Apapa, and Lekki. From an investment standpoint, Ogun’s closeness to Lagos and its appreciating property value made it the best choice.”
He added that the state’s abundant natural gas resources also played a critical role in their decision.
“If we had set up in another location, we would likely be powering the facility with diesel, which is not cost-effective,” Lawal explained. “But in Ogun State, we can rely on gas, which is much cheaper and more sustainable for our operations.”
The CEO also commended the state government for its welcoming stance and willingness to support investors.
“I came to brief the governor on the level of progress at the site and to seek his continued support,” Lawal said. “The governor was very receptive and enthusiastic. It’s not every day you meet a leader who is genuinely interested in economic growth and local empowerment.”
He described the interaction as “very productive,” expressing optimism that the plant would soon commence operations and start contributing meaningfully to the local and national economy.
