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By Lizzy Chirkpi
The Federal Government has reaffirmed its resolve to unlock Nigeria’s vast steel potential in 2026 as a key driver of inclusive growth, industrialisation and self-reliance.
The Minister of Steel Development, Prince Shuaibu Audu, gave the assurance in his New Year message to Nigerians on Thursday in Abuja, stressing that the steel sector remains central to infrastructure development, manufacturing expansion and job creation.
Audu said the ministry would continue to work closely with sub-national governments, the private sector, development partners and host communities to reposition the industry for sustainable growth.
“As we move into the New Year, our focus remains resolute,” the minister said. “To strengthen institutional frameworks, accelerate the revitalisation of critical steel assets, promote local steel production, attract both domestic and foreign investments, and enhance human capacity development across the sector.”
According to him, these priorities align with the mandate of ensuring that the steel industry effectively supports national development and economic self-reliance.
“In realisation of the Renewed Hope Agenda of President Bola Tinubu, the ministry will continue to pursue policies and partnerships that foster transparency, efficiency, innovation and sustainability,” Audu added.
He acknowledged that the sector faced constraints in 2025, particularly the non-release of funds for the implementation of the 2025 budget. However, he said the ministry sustained reform momentum through the prudent execution of key components of the 2024 Appropriation.
By prioritising strategic partnerships, investment facilitation and policy-driven interventions over direct budgetary spending, Audu noted that the ministry recorded significant achievements that underscored the resilience and ingenuity of its leadership.
Among the major milestones in 2025 was the successful hosting of the inaugural National Steel Summit, which brought together stakeholders nationwide to chart a new path for the revival of the steel industry.
The minister disclosed that Nigeria had also made progress in discussions with prospective Chinese investors aimed at reviving the Ajaokuta Steel Plant, long regarded as critical to the country’s industrial ambitions.
He further revealed that the ministry facilitated a $500 million investment by the Nigerian National Petroleum Company Limited (NNPCL) and its partners for the establishment of five mini Liquefied Natural Gas (LNG) plants within the Ajaokuta Steel Territory.
According to Audu, the initiative is expected to guarantee reliable power supply, lower production costs, encourage cleaner energy use and stimulate industrial growth, with particular benefits for Northern Nigeria.
The minister also said the ministry executed a Memorandum of Understanding with the Federal Ministry of Defence for the local production of military hardware and the establishment of a Military Industrial Complex within the Ajaokuta Steel Territory, in collaboration with the Defence Industries Corporation of Nigeria.
On human capacity development, Audu said he approved the employment of over 200 pioneer experts into the National Steel Council, Abuja, while more than 700 youths were trained and empowered with technical skills across the sector.
“Looking ahead to 2026, the Ministry is focused on consolidating these gains and transitioning from policy reforms to measurable production outcomes,” he said.
“Expectations include accelerated implementation of signed investments, tangible progress at Ajaokuta, and phased production in the new steel plant, deeper local content integration, and sustainable job creation, supported by stronger budgetary alignment and private sector participation.”