The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has performed the groundbreaking ceremony for a $400 million steel plant in Ogun State, marking a significant investment in Nigeria’s steel industry.
The plant, developed by Inner Galaxy Group, is expected to produce hot-rolled coil and reduce Nigeria’s annual steel import bill by $4 billion. It will also create over 3,500 jobs and contribute to the nation’s economic growth.
The Minister expressed confidence in the project’s timely completion and commended the company for its commitment to the steel industry’s revival under President Bola Ahmed Tinubu’s “Renewed Hope Agenda.” Additionally, the Minister visited local military equipment manufacturers in Ogun State, supporting the Federal Government’s initiative to promote local production of military hardware.
The Stellar Steel Plant will produce hot-rolled coil, reducing Nigeria’s reliance on imported steel and saving the country $4 billion annually. The plant is also expected to create over 3,500 jobs and contribute to the nation’s economic growth.
The Minister commended the Inner Galaxy Group for their commitment to the steel industry’s revival and expressed confidence in their ability to complete the project. He expects the plant to be commissioned by April 2026.
Also in his lineup of events, the minister paid working visits to Proforce Defence Solutions in Ode Remo and Epail Nigeria Plant in Mowe, both in Ogun State. The visits are aligned with the Federal Government’s push for local production of military hardware and the proposed development of a military industrial complex within the Ajaokuta Steel Complex in Kogi State.
