Byline: Charity Nwakaudu, Abuja
Minister of Steel Development Prince Shuaibu Abubakar Audu performed the groundbreaking ceremony for the $400 million Stellar Steel Plant in Ogun State to boost Nigeria’s economy.
The plant, developed by Inner Galaxy Group, will span over 100 hectares and produce hot-rolled coils, reducing Nigeria’s $4 billion annual steel import bill, strengthening foreign exchange reserves, and creating over 3,500 direct and indirect jobs.
In a statement by Salamatu Jibaniya, Director of Information and Public Relations, the minister lauded Inner Galaxy Group’s commitment to President Bola Tinubu’s “Renewed Hope Agenda”. “This is one of the most robust cabinet teams assembled since 1999, as President Tinubu selects the best leaders to actualise his vision,” Audu said, expressing confidence in the plant’s completion by April 2026.
The statement highlighted Inner Galaxy’s track record, including Africa’s largest lithium factory in Nasarawa and a $150 million battery-recycling facility in Aba. “I have come to support the Inner Galaxy Group for this $400 million investment. I look forward to commissioning the plant in April 2026,” Audu added, emphasising steel’s role in industrialisation for roads, power, and defence.
Audu noted Nigeria’s ambition to build a $1 trillion economy by 2030, drawing inspiration from China’s rapid industrialisation. “We want to make our economy one of the biggest globally,” he said. Inner Galaxy Vice President Jackie Shan, speaking for Chairman Li Chuang, praised the ministry’s efforts to revitalise the steel sector.
The minister also visited Proforce Defence Solutions in Ode Remo and Epail Nigeria in Mowe, Ogun State, to promote local military hardware production and a proposed military industrial complex at Ajaokuta Steel Complex. Proforce’s Managing Director, Ayo Ogundeyin, said Nigeria could become Africa’s top defence manufacturing hub with ministry support. Epail’s Chairman, Dr Kola Balogun, called for stronger collaboration, noting steel’s critical role in defence.