Major funding to modernise aluminium recycling in Nigeria

Nigerian recycler Terra Alloy has raised over EUR 9 million to advance its aluminium recycling efforts.

Investment firm TLG Capital and Wema Bank say they are eager to ‘transform’ the metals recycling industry in Nigeria. Both parties provided backing for a market facing many economic challenges.

Industrial scale site

Terra Alloy operates an aluminium recycling plant in Ogun State. Thanks to the new funds, the recycler will be able to recover three Eiffel Towers’ worth of metal over the next five years. This will position Terra Alloy as the country’s largest and first industrial-scale aluminium recycler.

The new recycling plant in Ogun State will create 200 jobs and set an example for other recyclers in the country. TLG Capital estimates the facility will cut carbon emissions equivalent to removing 100 000 passenger vehicles from the road.

Nigeria is home to 218.5 million people, with a recycling industry that is developing across all segments.