The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has commissioned the Inner Galaxy Group’s $400 million Stellar Steel Plant in Ogun State.
This major milestone for Nigeria is a quest to revamp its steel industry and reduce its dependence on importations.
Situated on over 100 hectares of land, the Stellar Steel Plant is expected to produce hot-rolled coils, a vital input in various industries. Upon completion, the plant aims to slash Nigeria’s $4 billion annual steel import bill, bolster the country’s foreign exchange reserves, diversify the economy beyond oil and gas, and create over 3,500 direct and indirect jobs.
The event follows the commissioning of the African Industries Group’s Galvanised Steel Plant in Lagos, which boasts an estimated annual turnover of $100 million. Both engagements are part of the Minister’s one-week working visit to Lagos and Ogun States, focused on fostering stronger ties with key private sector players in the steel industry.
Speaking at the ceremony on Wednesday, Prince Audu praised the Inner Galaxy Group for aligning with President Bola Ahmed Tinubu’s “Renewed Hope Agenda,” aimed at economic revitalisation through industrial growth. He noted that the administration’s emphasis on selecting capable hands for leadership roles reflects its seriousness in delivering transformative change.
“I am here to express my full support for this $400 million investment. It is an impressive and ambitious project, and by God’s grace, we look forward to commissioning the fully operational plant by April 2026,” the Minister declared.
He also highlighted Inner Galaxy Group’s proven track record in Nigeria, citing their construction of the largest lithium factory in Nasarawa State and a $150 million battery-recycling facility in Aba, Abia State.
Underlining the administration’s economic targets, Prince Audu emphasized: “Our goal is to build a $1 trillion economy by 2030. Steel is the backbone of industrialisation—power, infrastructure, defence—all rely on it. This project exemplifies the kind of public–private partnership we need to make Nigeria a global industrial force.”
Representing the Inner Galaxy Group, Vice President Jackie Shan conveyed the appreciation of Chairman Mr. Li Chuang, thanking the Ministry for its proactive support in rejuvenating the steel industry.
As part of his engagements in Ogun, Prince Audu also visited Proforce Defence Solutions in Ode Remo and the Epail Nigeria Plant in Mowe—aligning with federal efforts to localise defence manufacturing and establish a military industrial complex within the Ajaokuta Steel Complex.
At Proforce, the Minister reiterated President Tinubu’s commitment to national security through industrial self-reliance, stressing that the proposed military industrial complex in Ajaokuta is crucial to enhancing Nigeria’s defence capabilities.
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Mr. Ayo Ogundeyin, Managing Director of Proforce, applauded the Minister’s dedication and affirmed that Nigeria has the potential to become Africa’s top defence manufacturing hub with proper policy support.
At Epail Nigeria, the Minister commended the company’s innovative technologies in defence production and pledged the government’s support. Dr. Kola Balogun, Chairman of Epail, urged for the establishment of a licensing framework to regulate and empower private military equipment producers.
