NEW YEAR MESSAGE OF THE HONOURABLE MINISTER OF STEEL DEVELOPMENT, PRINCE SHUAIBU ABUBAKAR AUDU
•••SETS AGENDA FOR STEEL SECTOR GROWTH AND INDUSTRIAL TRANSFORMATION IN 2026
As this New Year dawns, I extend my sincere goodwill and best wishes to all Nigerians at home and abroad. The beginning of a new year offers an opportunity for reflection, renewed commitment, and collective resolve to advance our nation’s developmental aspirations.
The past year marked a significant chapter in our journey to reposition Nigeria’s steel sector as a cornerstone of industrial growth and economic transformation. Through strategic reforms, renewed policy direction, and sustained stakeholder engagements, the Ministry of Steel Development under my leadership has continued to lay a solid foundation for the revival and expansion of the steel industry in line with the “Renewed Hope” agenda of President Bola Ahmed Tinubu GCFR.
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As we move into the New Year, our focus remains resolute: 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. These efforts are central to our mandate of ensuring that the steel industry effectively supports infrastructure development, manufacturing, job creation, and national self-reliance.
In realisation of the Renewed Hope Agenda of His Excellency, President Bola Ahmed Tinubu GCFR, the Ministry will continue to pursue policies and partnerships that foster transparency, efficiency, innovation, and sustainability. We are committed to working collaboratively with sub-national governments, the private sector, development partners, and host communities to unlock the vast potential of Nigeria’s steel resources for inclusive and sustainable development.
Notwithstanding the fiscal constraints that characterised the 2025 financial year—particularly the non-release of funds for the implementation of the 2025 Budget—the Ministry sustained its reform momentum through the prudent implementation of key components of the 2024 Appropriation. By prioritising strategic partnerships, investment facilitation, and policy-led interventions over direct budgetary outlays, the Ministry recorded notable achievements that reaffirm the resilience and ingenuity of its leadership.
A major milestone during the year was the successful hosting of the Inaugural National Steel Summit 2025, which was declared open on behalf of His Excellency, President Bola Ahmed Tinubu, GCFR, by the Vice President of the Federal Republic of Nigeria, Sen. Kashim Shettima, GCON, which brought together stakeholders from across the nation to chart a new course for the sector’s revival.
In furtherance of the long-standing national objective to revitalise the Ajaokuta Steel Complex, it would be recalled that in September 2024, the Ministry signed a landmark Memorandum of Understanding (MoU) with the original equipment manufacturers of the plant, marking a historic step towards its completion. However, in response to evolving global realities, including disruptions occasioned by the Russia–Ukraine conflict, Nigeria adopted a pragmatic pivot in its technical partnership; with advanced discussions now being held with prospective investors in China following my several visits there to facilitate the revival of the steel plant.
Recognising the energy-intensive nature of industrial cluster in Nigeria, the Ministry facilitated a $500 million investment by NNPCL and its partners for the establishment of five mini-LNG plants within the Ajaokuta Steel Territory. This initiative will ensure a reliable power supply, reduce production costs, promote cleaner energy use, and stimulate industrial growth with a particular focus on Northern Nigeria.
In a historic move to enhance the national security architecture and industrial self-reliance, the Ministry executed an MoU 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 DICON.
Investor confidence in Nigeria’s steel sector reached new heights with the signing of a Joint Strategic Cooperation Agreement with the Inner Galaxy Group’s Stellar Steel Company Limited for a $400 million steel plant being built in Ewekoro, Ogun State. This, alongside the commissioning of the Orbit Galvanised Steel Plant in Ikorodu, Lagos State (with an estimated annual turnover of $100 million) reflects the growing confidence in the sector translating into more jobs and industrial capacity.
Further repositioning of national metallurgical assets is underway, with ALSCON set to invest an additional $465 million in phased investment over a six year-period providing issues around the legal impasse on the ownership structure is resolved. On the other hand, Premium Mines and Steel Limited (formerly Delta Steel) has committed to commence rehabilitation and operations within 18 months after financial close providing the Ministry helps to resolve issues around supply of raw materials for production.
In line with the Renewed Hope agenda on job creation, I facilitated and approved the employment of over 200 pioneer steel-sector experts into the National Steel Council, Abuja—an agency under the Ministry of Steel Development responsible for policy formulation, standardisation, and strategic oversight of Nigeria’s steel industry. This engagement marks a significant step toward the revitalisation of the nation’s steel sector.
Additionally, through the maiden Skill Acquisition and Empowerment Boot Camp exercise held at the Metallurgical Training Institute (MTI), Onitsha, I oversaw the training and empowerment of over 700 youths drawn from all 36 states of the federation and the FCT with hands-on technical skills in critical areas such as welding and fabrication, foundry and metallurgy, instrumentation and control systems, and metallurgical maintenance, aimed at bridging skills gaps in the metals industry.
Looking ahead to 2026, the Ministry is focused on consolidating these gains and transitioning from policy reforms to measurable production outcomes. Expectations include accelerated implementation of signed investments, tangible progress at Ajaokuta, phased production in the new steel plant, deeper local content integration, and sustainable job creation, supported by stronger budgetary alignment and private sector participation.
I wish all Nigerians a peaceful, productive, and prosperous 2026 filled with good health, renewed hope, and shared progress.
Happy New Year.
Prince Shuaibu Abubakar Audu
Honourable Minister of Steel Development
January 1, 2026
(DEMOCRACY NEWSLINE NEWSPAPER, JANUARY 1ST 2026)
