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UK Pledges To Invest $5m In Nigeria’s Battery Recycling Facility

BY CHIKA OKEKE, Abuja
R-L: Governor of Ogun State, Dapo Abiodun presenting a copy of Ogun State Investment Opportunity book to the British High Commissioner to Nigeria, Dr. Richard Montgomery in Abeokuta recently. 


United Kingdom has pledged to invest $5 million towards the establishment of battery recycling and treatment facility in Nigeria.

The $5m investment, to be provided through UK’s Manufacturing Africa programme is expected to create a lithium-ion battery and lead acid battery recycling and treatment plant in Ogun State using patented recycling technology.

These were part of the highlights when the British High Commissioner to Nigeria, Dr. Richard Montgomery embarked on a four-day official visit to Lagos and Ogun states.

During the visit, he engaged in conversations that focused on enhancing economic ties, driving investments, prosperity opportunities and future priorities that could be beneficial to the states and the UK.

He underscored the United Kingdom’s commitment to strengthening bilateral relations and supporting development initiatives in these key regions.

The major highlight of his visit to Ogun state was the announcement and signing of a letter of intent by UK company, Hinckley, to establish the recycling facility in the state. 

In Lagos, 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.

The high commissioner disclosed that the visit to Lagos and Ogun states reinforced the strong ties between UK and Nigeria. 

"Both states are key to boosting Nigeria’s economic prosperity and the UK is committed to driving that growth, promoting trade and supporting their developments.

"It is fantastic that Hinckley Recycling is committing to establish the first battery recycling facility in Nigeria by creating a new high-value addition export industry in Ogun and 100 new jobs. Congratulations to the Commissioners and OgunInvest who worked with Hinckley to make this groundbreaking project a reality.  

“The UK fully supports Governor Dapo Abiodun’s mission to bring new investment and new jobs into Ogun state. 

"The UK Government’s development finance bank, British International Investment invested $15m 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 added.

Hinckley Recycling became the first government approved e-waste recycler in Nigeria in 2016. Hinckley is expanding its e-waste business to create a lithium-ion battery and lead acid battery recycling and treatment plant in Nigeria using patented recycling technology; the local treatment and manufacturing plant will be the first of its kind in Africa.

 The project will lead to an investment of $4.5m and will create 100 direct jobs. Manufacturing Africa provided them with a market study and corporate finance support. They have identified a site in Ogun state for their facility.

This was contained in a statement made available to newsmen by the Senior Communications & Public Diplomacy Officer of British High Commission, Mrs Atinuke Akande-Alegbe on Friday in Abuja. 

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