• 18 September, 2024
• by OgunInvest

Joint Ogun State Government/Manufacturing Africa/Hinckley Ewaste Recycling Ltd - Press Conference

The Ogun State Government, facilitated by Ogun State Investment Promotion and Facilitation Agency (OgunInvest), in collaboration with Manufacturing Africa programme, an initiative of the UK government through its Foreign, Commonwealth and Development Office (FCDO) in the British High Commission and Hinckley E-Waste Recycling Ltd., will be hosting a joint press conference to showcase a pivotal partnership aimed at enhancing the manufacturing sector and boosting investor confidence in Ogun State.

The UK Foreign, Commonwealth & Development Office (FCDO) – Manufacturing Africa Program plays a crucial role in supporting industrial development and innovation across the African continent. FCDO is committed to advancing manufacturing capabilities and promoting sustainable practices. This collaboration leverages the FCDO’s expertise in market studies and corporate finance support to foster a robust manufacturing ecosystem in Ogun State and Nigeria at large. The program’s involvement in this initiative underscores its dedication to enhancing Africa’s industrial sector, creating high-quality jobs, and driving technological advancements.

Founded in Lagos in 2010, Hinckley E-Waste Recycling Ltd. is a pioneering leader in electronic waste management. The company specializes in the safe and efficient recycling of electronic waste, employing advanced technologies and sustainable practices to manage e-waste responsibly. Their innovative approach not only supports environmental conservation but also promotes best practices in electronic waste management across Nigeria. Hinckley Recycling became the first government approved E-Waste recycler in Nigeria in 2016.

The company is now expanding its operations to Ogun State with a groundbreaking project to establish the first lithium-ion and lead acid battery recycling and treatment plant in Africa. This $5 million investment in the first year will utilize patented recycling technology and create 100 direct jobs. The project is supported by a market study and corporate finance assistance from Manufacturing Africa.

Established by law in 2019, Ogun State Investment Promotion and Facilitation Agency (OgunInvest) is led by His Excellency Prince Dapo Abiodun CON as its Chairman. The agency's vision is to firmly establish Ogun State as the industrial and logistics hub of Nigeria and the preferred investment destination in the region. Its mission is to create an investor-friendly environment that attracts and retains both domestic and international investments, thereby fostering economic growth.

In line with its mandate to attract and facilitate new investments into Ogun State, OgunInvest is dedicated to enhancing the state's economic growth and promoting it as the premier investment destination in Nigeria. The agency provides comprehensive support services to investors, offering a one-stop solution for investment facilitation. This includes assisting with initial inquiries, providing detailed information on investment opportunities, guiding investors through regulatory requirements, and offering aftercare services to ensure successful investment operations.

In addition to its facilitation services, OgunInvest plays a crucial role in enhancing the business environment for the manufacturing sector through policy advocacy and reforms. By creating a conducive atmosphere for manufacturing investments, OgunInvest aims to attract high-value projects, such as those in the e-waste recycling and battery production industries, further solidifying Ogun State’s position as a leading destination for industrial and manufacturing investments in Nigeria.

Benefits of the Partnership:
1.Economic Growth and Job Creation: Ogun State will benefit from £1.2 billion in foreign direct investment through FCDO’s Manufacturing Africa initiative, with the creation of 90,000 jobs over seven years. The partnership with Hinckley will also directly result in the creation of 100 jobs through the establishment of the first lithium-ion and lead acid battery recycling facility in Africa.
2.Technological and Knowledge Transfer: Ogun State’s industrial ecosystem will be elevated by access to UK-patented battery recycling technology developed by Solveteq in collaboration with Imperial College London. This will establish the state as a technological leader in battery recycling across Africa.
3.Environmental and Health Protection: By promoting sustainable e-waste recycling, Ogun State will mitigate environmental pollution and safeguard public health, particularly by preventing lead poisoning and child labor related to unsafe recycling practices.
4.Strengthening Investor Confidence: The partnership showcases Ogun State as an investor-friendly region, solidifying its position as the preferred destination for industrial investments in Nigeria.

Press Conference Details:
Date: Wednesday, September 18th, 2024
Time: 4:00 PM
Venue: Olusegun Osoba Press Centre, State Secretariat, Oke-Mosan, Abeokuta

The press conference will feature Mr. Richard Montgomery CMG, British High Commissioner to Nigeria and the UK Permanent Representative to the Economic Community of West African States (ECOWAS), key Ogun State Government representatives, including Mr. Dapo Okubadejo, Chief Economic Adviser and Honorable Commissioner for Finance; Mr. Adebola Sofela, Honorable Commissioner for Industry, Trade & Investment; Mr. Olu Oresanya, Honorable Commissioner for Environment; and Ms. Sola Arobieke, Special Adviser/DDG of OgunInvest, as well as Mr. Adrian Clews, Managing Director of Hinckley Associates Nigeria. These esteemed individuals will provide insights into the investment, regulatory support, and the anticipated impact on the manufacturing sector and investor confidence. They will be the central figures at the event, underscoring the importance of collaboration between the state and its stakeholders.