2026: Minister Commits To Repositioning Steel Sector

The federal government has restated its commitment to unlocking the vast potentials of Nigeria’s steel resources for inclusive and sustainable development.

The minister of Steel Development, Prince Shuaibu Audu, made the commitment in his New Year message to Nigerians on Thursday in Abuja.

Audu said that the ministry remained committed to working collaboratively with sub-national governments, the private sector, development partners and host communities to achieve the feat.

“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 President Bola Tinubu, the ministry will continue to pursue policies and partnerships that foster transparency, efficiency, innovation, and sustainability,”he said.

The minister said that in spite of constraints in 2025, particularly the non-release of funds for the implementation of the 2025 budget, it sustained its reform momentum through the prudent implementation of key components of the 2024 Appropriation.

According to him, by prioritising strategic partnerships, investments’ 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 in 2025, he said, was the successful hosting of the inaugural National Steel Summit 2025, which brought together stakeholders from across the nation to chart a new course for the sector’s revival.

He said that Nigeria had advanced in discussions with prospective investors in China to facilitate the revival of the Ajaokuta steel plant.

The ministry, he said, facilitated a $500 million investment by NNPCL and its partners for the establishment of five mini-Liquefied Natural Gas plants within the Ajaokuta Steel Territory.

This initiative, he explained, would ensure a reliable power supply, reduce production costs, promote cleaner energy use and stimulate industrial growth with a particular focus on Northern Nigeria.

He added that 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 Defence Industries Corporation of Nigeria.

The minister said he approved the employment of over 200 pioneer steel-sector experts into the National Steel Council, Abuja, while over 700 youths were empowered with technical skills

“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, ’’he said.