In a major boost for Africa’s industrial sector, Lagos-based Neveah has been named among the continent’s top-performing companies in the latest Financial Times annual ranking. The commodities upstart outperformed established players to claim the #1 position in metals and mining while breaking into the overall top 25.
The recognition comes as Nigeria pushes to diversify its economy beyond crude oil exports. Neveah has emerged as a key player in this transition, building an international trading network for Nigerian mineral resources and agricultural commodities.
“This validates our unconventional approach to commodities trading,” said CEO Ibidapo Lawal. “While many focus solely on extraction, we’ve invested in full supply chain integration – from sourcing to processing to global distribution.”
The FT’s 2025 growth ranking analyzed financial data from companies across 15 African markets. Neveah’s inclusion is particularly notable given Nigeria’s challenging business environment, where currency fluctuations and infrastructure gaps have hampered many traditional exporters.
Breaking the Commodity Curse
Unlike typical African commodity firms that simply ship raw materials abroad, Neveah has vertically integrated its operations. The company now handles:
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Local mineral processing
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Quality control laboratories
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Export logistics
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End-user distribution networks
This model has allowed Neveah to capture more value from Nigeria’s resource wealth while creating skilled jobs locally. The company recently expanded into rare earth minerals, positioning itself as a supplier for high-tech manufacturers.
Sustainable Growth Focus
Neveah’s rise comes with a commitment to responsible sourcing. The firm has implemented:
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Blockchain-enabled supply chain tracking
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Community development programs in mining regions
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Clean energy initiatives at processing facilities
“We’re proving African commodity businesses can be both profitable and sustainable,” Lawal noted. “This recognition motivates us to set even higher standards.”
With Africa’s mining sector projected to grow 30% by 2030, Neveah’s FT ranking signals its potential to become a pan-African commodities leader. The company plans to use its newfound visibility to attract strategic partners for expansion into new markets.
What This Means for Nigeria
Neveah’s success provides a blueprint for:
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Adding value to raw material exports
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Building resilient businesses despite economic headwinds
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Creating industrial linkages beyond extractive industries
As global demand for African minerals grows, Neveah’s model offers hope that the continent can move beyond its historical role as simply a supplier of unprocessed commodities.
