The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has outlined an ambitious roadmap for Nigeria’s steel sector in 2026, pledging accelerated industrial growth, increased investments, and tangible production outcomes as part of President Bola Ahmed Tinubu’s Renewed Hope agenda.
In his New Year message to Nigerians on January 1, 2026, Audu said the Federal Ministry of Steel Development recorded significant progress in 2025 despite fiscal constraints, while laying a strong foundation for the sector’s long-awaited revival.
“The past year marked a significant chapter in our journey to reposition Nigeria’s steel sector as a cornerstone of industrial growth and economic transformation,” the minister said.
According to Prince Audu, the ministry maintained reform momentum in 2025 even with the non-release of funds for the year’s budget, relying instead on strategic partnerships, policy-driven interventions, and efficient use of prior appropriations.
“By prioritising strategic partnerships, investment facilitation, and policy-led interventions over direct budgetary outlays, the Ministry recorded notable achievements that reaffirm the resilience and ingenuity of its leadership,” he stated.
A major highlight of the year was renewed progress toward the revitalisation of the Ajaokuta Steel Complex, Nigeria’s flagship steel asset. Audu recalled that a landmark Memorandum of Understanding was signed in September 2024 with the original equipment manufacturers, while Nigeria later adjusted its technical strategy due to global disruptions linked to the Russia–Ukraine conflict.
“We have adopted a pragmatic pivot in our technical partnership, with advanced discussions now being held with prospective investors in China following my several visits,” he said.
To address energy challenges in the steel corridor, the minister disclosed that the ministry facilitated a $500 million investment by NNPCL and partners to establish five mini-LNG plants within the Ajaokuta Steel Territory.
“This initiative will ensure reliable power supply, reduce production costs, promote cleaner energy use, and stimulate industrial growth, particularly in Northern Nigeria,” Audu noted.
In a move aimed at strengthening national security and industrial self-reliance, the ministry also signed an MoU with the Federal Ministry of Defence to enable local production of military hardware and establish a Military Industrial Complex in collaboration with DICON.
Audu said investor confidence in Nigeria’s steel industry has continued to grow, citing a $400 million Joint Strategic Cooperation Agreement with Inner Galaxy Group’s Stellar Steel Company for a new steel plant in Ewekoro, Ogun State, as well as the commissioning of the Orbit Galvanised Steel Plant in Ikorodu, Lagos State.
Further investments are expected at ALSCON, with a proposed $465 million phased expansion, and at Premium Mines and Steel Limited, which plans to commence rehabilitation and operations within 18 months after financial close.
On employment and capacity development, the minister announced the recruitment of over 200 pioneer experts into the National Steel Council, alongside the training of more than 700 youths across the country at the Metallurgical Training Institute, Onitsha.
“This engagement marks a significant step toward the revitalisation of the nation’s steel sector and the bridging of critical skills gaps in the metals industry,” Audu said.
Looking ahead, Audu said 2026 will be a year of transition from reforms to results.
“Our focus is on consolidating these gains and moving from policy reforms to measurable production outcomes, including tangible progress at Ajaokuta, phased production in new steel plants, deeper local content integration, and sustainable job creation,” he said.
The minister concluded by wishing Nigerians a peaceful and prosperous New Year, expressing confidence that the steel sector would play a central role in driving industrialisation and economic self-reliance in the year ahead.
