UK announces $5m investment to establish first recycling facility in Nigeria

The British High Commissioner, Dr Richard Montgomery, has announced United Kingdom (UK)- sponsored five million dollars investment to establish the first battery recycling facility in Nigeria.

This is according to a statement signed Atinuke Akande-Alegbe, Senior Communications & and Public Diplomacy Officer at the British High Commission on Friday in Abuja.

Montgomery said that the announcement and signing of a letter of intent by UK company, Hinckley, to establish the facility in Ogun state was made when he visited Gov. Dapo Abiodun.

According to him, the five million dollars investment provided by UK’s Manufacturing Africa (MA) will create a lithium-ion battery and lead acid battery recycling and treatment plant in Ogun State, using patented recycling technology.

“It is fantastic that Hinckley Recycling is committing to establish the first battery recycling facility in Nigeria, creating a new high-value addition export industry in Ogun State and 100 new jobs.

“Congratulations to the Commissioners and to OgunInvest who worked with Hinckley to make this groundbreaking project a reality.

“The UK fully supports the governor’s mission to bring new investment and new jobs into Ogun State.

“The UK Government’s development finance bank, British International Investment, invested 15 million dollars into Valency International last year

“And the UK’s Manufacturing Africa programme is supporting four other companies in Ogun State to raise capital and expand their production facilities.” he said.

Meanwhile, the envoy, who also visited Lagos state, underscored UK’s commitment to strengthening bilateral relations and supporting development initiatives in Nigeria.

During the four-day visit, the High Commissioner met with Governor Dapo Abiodun of Ogun State and Governor Babajide Sanwo-Olu of Lagos State.

He engaged in discussions focused on enhancing economic ties, investments opportunities and future priorities that could be beneficial to both Lagos and Ogun states, and the UK.

According to Montgomery , his visit to Lagos and Ogun States had reinforced the strong ties between our two great countries .

He said that both states were key to boosting Nigeria’s economic prosperity .

The envoy, therefore, reiterated UK’s commitment in driving growth, promoting trade and supporting their developments .

In Lagos, Montgomery also 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.