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Gbeminiyi Ogunleye
1 week ago
Overview
Neveah’s New Recycling Plant To Increase Non-Oil Exports By $100 Million Annually
Neveah Limited, a leading indigenous commodities export company, is set to launch its state-of-the-art aluminium and copper recycling plant in Ogun State.
The multi-billion naira facilities mark a significant milestone in Nigeria’s industrial and environmental landscape.
Under the leadership of Mr. Ibidapo Lawal, the cutting-edge facility is set to produce 36,000 metric tons of aluminium and 8,100 metric tons of copper annually.
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 projected to generate over $100 million in annual revenue while significantly contributing to national tax revenues through corporate taxes, VAT, and PAYE contributions.
