…Unveils Strategic Vision to Transform Nigeria into a Regional Steel Hub
The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has called for stronger collaboration between the government, private investors, and industry stakeholders to overcome the challenges confronting Nigeria’s steel and metal sector.
Prince Audu made this call while declaring open the Maiden Nigeria Steel Forum, held as a sideline event at the 10th Nigeria Mining Week in Abuja, where he also unveiled the Federal Government’s strategic roadmap for reviving the nation’s steel industry under President Bola Ahmed Tinubu’s Renewed Hope Agenda.
In a statement by Salamatu F. Jibaniya, Head, Press & Public Relations in the Ministry of Steel Development, on 17th October 2025, the Minister described the Forum as a “pivotal moment” in Nigeria’s journey toward self-sufficiency in steel production, noting that despite abundant iron ore deposits, Nigeria contributes minimally to Africa’s total steel output.
He observed that just four countries—Egypt, South Africa, Algeria, and Morocco—accounted for 88% of the continent’s production in 2023, underscoring the urgent need for coherent policies, robust infrastructure, and active private sector participation to bridge the gap.
“The Renewed Hope administration is determined to reposition Nigeria as a regional hub for steel production,” Prince Audu stated.
“Our target is to produce 10 million tonnes of crude steel annually by 2030, while generating over 500,000 direct and indirect jobs across the value chain.”
He reaffirmed the Federal Government’s commitment to creating a conducive investment climate through fiscal incentives, legal reforms, and public-private partnerships (PPPs). The Minister also commended the Ministry of Solid Minerals Development, led by Dr. Henry Dele Alake, and the event organisers for integrating the Steel Forum into the Mining Week to foster cross-sector collaboration.
In his remarks, the Permanent Secretary of the Ministry of Steel Development, Dr. Chris Isokpunwu, described the Forum as a milestone in Nigeria’s industrialisation drive, saying it built on the outcomes of the Maiden National Steel Summit, which charted a roadmap for reviving the Ajaokuta Steel Company and NIOMCO, implementing a National Steel Policy, and building skilled manpower across the steel value chain.
Dr. Isokpunwu urged stakeholders to move beyond policy discussions to actionable partnerships and investments, commending the Minister’s “visionary leadership and steadfast commitment” to revitalising the sector.
Delivering a goodwill message, the Permanent Secretary of the Ministry of Solid Minerals Development, Engr. Faruk Yusuf Yabo highlighted limited access to capital as a key barrier for developing economies.
He noted that with shrinking public financing globally due to COVID-19, climate change, and geopolitical conflicts, the steel sector must increasingly attract private capital through clear and consistent policies.
Engr. Yabo praised the Minister’s proactive approach to strengthening institutional and policy frameworks, expressing optimism that these reforms would “create the right environment for sustainable private sector participation.”
The Forum brought together heads of agencies, development partners, and representatives of the organised private sector, all united in their commitment to unlocking Nigeria’s vast steel potential for national development.
