The Federal Government has reaffirmed its commitment to revitalising Nigeria’s steel industry, positioning it as a key driver of economic growth, industrialisation, and job creation in 2026.

The announcement was made by Prince Shuaibu Audu, Minister of Steel Development, during a New Year message to journalists in Abuja. The minister described 2026 as a pivotal year to translate policy reforms into measurable production outcomes and strengthen local content in the steel sector.

He highlighted that the government’s strategy will focus on:

Policy reforms and institutional strengthening to make the steel sector more productive and investor-friendly. Engagement with stakeholders to boost local steel production and attract investments. Revitalisation of key assets, including old steel plants, to expand domestic steel output and reduce import dependence.

In a notable development, the Federal Ministry of Steel Development recently signed a $400 million cooperation agreement with Inner Galaxy Group’s Stellar Steel Company Limited to establish a modern steel plant in Ewekoro, Ogun State. The facility is expected to begin phased operations by late 2026, creating jobs and positioning Nigeria as a regional steel production hub.

The minister emphasised that a strong and revitalised steel industry is crucial for industrialisation, infrastructure expansion, and sustainable economic growth. The FG’s renewed focus on steel aligns with broader national goals under the “Renewed Hope Agenda”, aimed at boosting local production and reducing dependence on imported steel.