Metals & Mining

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The growing market of Nigeria attributes to the increasing demand for the steel and thus create a big scrap market to recycle within the country.

3.26%

CAGR

$137.70 Bn (2028)

Forecast

Untapped Potential: Invest In Metal Recycling Business in IPR, Nigeria

Nigeria's booming cities and industries churn out a massive amount of metal waste - estimates suggest over a huge Metal Waste tonnage annually. This presents a golden opportunity for investors in metal recycling, especially within Nigeria's well-positioned IPR zones. The metal derivatives market is anticipated to demonstrate an annual growth rate (CAGR 2024-2028) of 3.26%, resulting in a projected total amount of US $137.70bn by 2028.

Data highlights the global demand for metals like steel and aluminum is on a steady rise, fueled by infrastructure development and renewable energy (source: World Bank). Meanwhile, Nigeria's current metal recycling capacity is limited, creating a gap for the industry to fill. IPR zones offer a launchpad for investors with tax breaks, streamlined regulations, and access to metal waste and transportation networks. With strategic planning and addressing challenges like informal waste collection and technology adoption, investors can capitalize on this data-driven potential and establish a sustainable metal recycling industry within Nigeria's IPR zones.

FACILITIES IN IPRFZ Metals & Mining