President Tinubu Pledges Revival of Nigeria’s Steel Sector to Become Africa’s Steel Hub by 2030
…As Minister Shuaibu Abubakar Audu Hosts Inaugural National Steel Summit 2025
President Bola Ahmed Tinubu, GCFR, has reaffirmed the commitment of the “Renewed Hope” Administration to reviving Nigeria’s steel sector and transforming it into Africa’s leading steel hub to become the backbone of the nation’s industrial future by the year 2030.
This is also as the President reeled out ongoing efforts by the current administration to resuscitate all the steel facilities and legacy assets across the country, with a target of producing 10 million metric tonnes of steel annually and creating 500,000 jobs from the steel sector by 2030.
The President made this known while declaring open the Inaugural National Steel Summit 2025 on Wednesday, August 13, 2025, in Abuja, with the theme “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness”.
President Tinubu, who was represented by Vice President Kashim Shettima GCON, said his “Renewed Hope” administration, since the creation and reconfiguration of the Ministry of Steel Development in 2023, has moved beyond establishing an effective bureaucracy to building a critical engine for national transformation.
“This summit is more than a meeting; it is a call to action,” the President declared. “For nearly 50 years, we have nurtured the dream of becoming a regional steel powerhouse. Now, we are ready to make that dream a reality.
“We are determined to make the steel industry the backbone of Nigeria’s industrial future by 2030, producing 10 million tonnes of liquid steel annually and creating over 500,000 direct and indirect jobs. Government can lead, but the private sector must invest, academia must innovate, and skilled workers must emerge,” President Tinubu said.
In his opening address, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, reiterated the Ministry’s commitment to contributing to the President’s vision of making Nigeria a $1 trillion economy by 2030.
Prince Audu said that the ministry is working assiduously to increase domestic steel production from about two million metric tonnes annually to 10 million metric tonnes by 2030, eliminate import dependence and save over $4 billion currently spent on steel imports, and make Nigeria self-sufficient in steel production.
“We want to ensure all regulatory frameworks and policies are in place to guide and shape the industry,” Prince Audu said. “The President has made it clear that the steel sector is pivotal to achieving a $1 trillion economy. This summit is bringing all stakeholders on board to make that vision a reality.”
Delivering a goodwill message, the Honourable Minister of Solid Minerals Development, Dr Dele Alake, described the summit’s theme as a recognition that Nigeria’s steel sector must move “from stagnation to strength” and pledged his ministry’s support to align reforms that will boost steel production.
The Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, highlighted the vast untapped potential of Nigeria’s steel value chain, pledging collaboration with the private sector to accelerate growth. Similarly, the Minister of Transportation, Mr. Sai’du Ahmed Alkali, commended the summit’s timing and its focus on implementing the 10-year National Steel Roadmap.
Representing the Senate President, Sen. Godswill Akpabio GCON, Sen. Patrick Ndubueze, Chairman, Senate Committee on Steel Development, pledged the National Assembly’s support, affirming lawmakers’ readiness to work collaboratively with the Executive arm and stakeholders to deliver a vibrant, sustainable, and globally competitive steel industry.
Permanent Secretary, Ministry of Steel Development, Dr. Chris Osa Isokponwu, assured that the Ministry will remain an active driver of the sector’s revival, with ambitious but achievable goals, from enabling large- and small-scale steel production to strengthening local value chains, boosting exports, and creating jobs.
“This is a call to action, not just for government, but for industry leaders, financiers, entrepreneurs, and technical experts. The steel sector cannot thrive in isolation; it requires a coalition of willing and capable partners to achieve a strong, self-reliant, and industrially advanced Nigeria,” Dr. Isokponwu said.
The two-days Summit holding from August 13 to August 14, 2025, which brought together federal ministries, departments, agencies, industry leaders, private sector partners, and other stakeholders, is a landmark event, directly inspired by President Bola Ahmed Tinubu’s Renewed Hope Agenda, and is crucial towards repositioning the steel industry as the cornerstone of Nigeria’s industrial growth and economic resilience.
Lizzy Okoji
Special Assistant (Media) to the Honourable Minister of Steel Development,
Prince Shuaibu Abubakar Audu
August 14, 2025
