UK Invests $5m in Nigeria’s First Battery Recycling Facility

UK Invests $5 Million in Nigeria’s First Battery Recycling Facility

The United Kingdom has announced a five million dollar investment to establish the first battery recycling facility in Nigeria. The facility, to be established in Ogun State, will create a lithium-ion battery and lead acid battery recycling and treatment plant using patented recycling technology.

According to Dr. Richard Montgomery, the British High Commissioner, the investment is part of the UK’s commitment to strengthening bilateral relations and supporting development initiatives in Nigeria. The facility, to be established by UK company Hinckley, is expected to create 100 new jobs and establish a new high-value addition export industry in Ogun State.

Montgomery praised Hinckley Recycling for its commitment to establishing the facility, saying it was a "groundbreaking project" that would bring new investment and jobs to Ogun State. He also highlighted the UK’s support for Governor Dapo Abiodun’s mission to bring new investment and jobs to the state.

The facility is expected to be operational soon, and Montgomery emphasized the UK’s commitment to driving growth, promoting trade, and supporting Nigeria’s development. During his four-day visit to Lagos and Ogun States, Montgomery met with Governor Abiodun and Governor Babajide Sanwo-Olu of Lagos State, discussing economic ties, investment opportunities, and future priorities.

The UK’s Manufacturing Africa program is also supporting four other companies in Ogun State to raise capital and expand their production facilities. Additionally, the UK Government’s development finance bank, British International Investment, invested 15 million dollars into Valency International last year.

Montgomery’s visit reinforced the strong ties between the UK and Nigeria, with both states key to boosting Nigeria’s economic prosperity. He reiterated the UK’s commitment to supporting Nigeria’s development and promoting trade between the two countries.

The facility is expected to be a significant step forward for Nigeria’s economy, and the UK’s investment is a testament to the country’s commitment to supporting African development.