Dapo Abiodun announces $5 million UK battery plant investment in Ogun State  

The Ogun State Government has announced the establishment of a $5 million battery recycling plant by a British company.

Governor Dapo Abiodun disclosed this in a statement on Wednesday, following a visit from the British High Commissioner, Richard Montgomery, to the state capital, Abeokuta.

Abiodun stated that the British High Commissioner confirmed the new development during their meeting, adding that the UK is also interested in expanding investments in sectors such as health, education, agriculture, and others.

According to him, the battery plant will recycle e-waste, convert battery cells back into chemical form, and export the minerals for new battery production.

“We are pleased to announce the establishment of a $5 million British battery recycling company in @OGSG_Official, marking the first of its kind in Africa. This development was confirmed by the @UKinNigeria High Commissioner, Mr. Richard Montgomery, during a visit to my office at Oke-Mosan, Abeokuta.  

“This initiative, in collaboration with Ogun Invest and the Bureau of Lands, will bring cutting-edge technology and new job opportunities to our state, positioning Ogun as a leader in battery recycling across Africa.  

“The plant will recycle e-waste, converting battery cells back into chemical form and exporting the minerals for new battery production,” Abiodun said. 

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Speaking further, he said the United Kingdom has expressed further interest in investing in Ogun, particularly in energy, technology, agriculture, and education.

According to him, discussions are ongoing to expand these partnerships, including technical assistance for the mass transit system in the state.

“The United Kingdom has expressed further interest in investing in Ogun, particularly in energy, technology, agriculture, and education.  

“Discussions are ongoing to expand these partnerships, and we are excited about the possibilities ahead. British International Investment has already supported cashew processing in the state, and we welcome their technical assistance for our mass transit system,” Abiodun added. 

What you should know 

• Ogun State is one of the most economically vibrant States in Nigeria, hosting multiple industrial hubs in the country, including the famous Agbara industrial cluster.
• The State also has one of the highest internally generated revenues, making it one of the few financially self-sufficient States in the country.
• In January, the State Assembly approved N703.028 billion for the 2024 fiscal budget in Nigeria, coming after a few States like Lagos, Rivers and Delta.
• According to Governor Abiodun, the total budget comprises N415.66 billion for capital expenditure and N287.37 billion for recurrent expenditure.
• Additionally, the budget allocates N95.05 billion for personnel costs, N105.88 billion for overhead expenses, and N59.09 billion for public debt charges.