P The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has outlined an ambitious roadmap to consolidate reforms in Nigeria’s steel sector and transition to measurable production outcomes in 2026, despite the fiscal challenges that hindered full implementation of the 2025 budget.
In his New Year message to Nigerians, the minister said the federal government would intensify efforts to revitalise key steel assets, deepen local production, attract strategic investments and drive industrial transformation in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda.
Audu noted that although funds were not released for the 2025 budget, the ministry sustained momentum through the implementation of components of the 2024 Appropriation and through partnerships, policy interventions, and private sector-led initiatives. He said these strategies yielded tangible gains that strengthened investor confidence and set the foundation for industrial revival.
A major highlight of 2025 was the hosting of the first National Steel Summit, which brought stakeholders together to chart a new direction for the sector. The minister also reaffirmed government’s commitment to reviving the Ajaokuta Steel Complex, disclosing that Nigeria had shifted its technical partnership discussions towards China due to global disruptions occasioned by the Russia–Ukraine conflict.
To support energy requirements for steel and industrial operations, Audu announced a $500 million investment facilitated by NNPC Ltd. and partners for the establishment of five mini-LNG plants within the Ajaokuta territory, aimed at providing reliable power, reducing production costs and stimulating industrial growth, particularly in Northern Nigeria.
In furtherance of national security objectives, the ministry signed an MoU with the Ministry of Defence to enhance local production of military hardware and establish a Military Industrial Complex in Ajaokuta in collaboration with DICON.
He also highlighted renewed investor confidence, citing a $400 million partnership with Inner Galaxy Group’s Stellar Steel in Ogun State and the commissioning of the Orbit Galvanised Plant in Ikorodu, Lagos. Additionally, ALSCON is expected to inject $465 million in phased investment pending resolution of legal ownership matters, while Premium Mines and Steel Limited is preparing to restart production under improved raw material arrangements.
On human capacity development, the minister revealed that over 200 pioneer steel sector experts had been employed into the National Steel Council, while more than 700 Nigerian youths received technical training through a skill empowerment boot camp at the Metallurgical Training Institute, Onitsha.
Looking ahead, Audu said 2026 will focus on translating reforms to production outputs, advancing Ajaokuta revival milestones, delivering on signed investments, deepening local content, expanding job creation and strengthening collaboration with sub-national governments, private investors and development partners.
He wished Nigerians peace, prosperity and renewed hope in the New Year.
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