UK firm to invest N8bn on first battery recycling in Nigeria
The British High Commissioner, Dr Richard Montgomery, has disclosed that a United Kingdom (UK) company is planning a $5m (N8bn) to establish the first battery recycling in Nigeria. Montgomery disclosed this during a tour of Lagos and Ogun states, underscoring the United Kingdom’s commitment to strengthening bilateral relations and supporting development initiatives in these key […]
Richard Montgomery, British High Commissioner to Nigeria
The British High Commissioner, Dr Richard Montgomery, has disclosed that a United Kingdom (UK) company is planning a $5m (N8bn) to establish the first battery recycling in Nigeria.
Montgomery disclosed this during a tour of Lagos and Ogun states, underscoring the United Kingdom’s commitment to strengthening bilateral relations and supporting development initiatives in these key regions.
During the four-day visit, the High Commissioner met with Governor Dapo Abiodun of Ogun State and Governor Babajide Sanwo-Olu of Lagos State.
A key highlight of the visit to Ogun State was the announcement by a UK company, Hinckley Recycling, that they are establishing a new battery recycling facility in the state, using UK-patented technology.
- NIGERIA DAILY: What Comes Next After The Edo Governorship Election?
- Flood: Zulum constitutes panel to disburse fund, lists EFCC, DSS, others as members
Hinckley’s $5m investment will create Africa’s first lithium-ion and lead acid battery recycling and treatment plant.
In Lagos, Dr Montgomery met with Chief Emeka Anyaoku, and some business leaders in Nigeria, including the CEOs of Airtel Nigeria, Standard Chartered, Nigeria Helios Investment Partners, Afrinvest and KPMG West Africa.
On the $5 million investment to establish Nigeria’s first battery recycling facility in Ogun State, he said, “It is fantastic that Hinckley Recycling is establishing the first lithium-ion and lead-acid battery recycling facility in Nigeria, creating a new high-value export industry in Ogun State and 100 new direct jobs.”
“The UK government’s development finance bank British International Investment invested $15 million into Valency International in Ogun State last year, and the UK’s Manufacturing Africa programme is supporting four other companies in Ogun to raise capital and expand their production facilities.”