President Bola Ahmed Tinubu is set to inaugurate the first-ever National Steel Summit, scheduled to hold in Abuja from July 16 to 17, 2025. Organised by the Federal Ministry of Steel Development, the event is expected to gather a broad mix of stakeholders from both public and private sectors. Participants will include policymakers, industry leaders, financial institutions, academics, artisans, development partners, and international organisations, all converging to map out a strategy for rejuvenating Nigeria’s steel sector.
Speaking at a ministerial briefing in Abuja on Thursday, the Minister of Steel Development, Prince Shuaibu Abubakar Audu, confirmed the President’s participation and disclosed the theme of the summit: “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness.” The minister emphasised that the summit comes at a critical moment for Nigeria’s industrial aspirations, with the steel sector positioned as a foundation for the country’s broader economic development goals.
Audu noted that Nigeria currently spends more than $4 billion annually on imported steel products, underlining the urgency of ramping up domestic production. He said the summit would serve as a platform for constructive dialogue, policy alignment, investment mobilisation, and capacity development within the sector. According to him, the government’s focus includes revitalising key legacy projects such as the Ajaokuta Steel Plant, Jos Steel Rolling Mill, the National Iron Ore Mining Company, and the Aluminium Smelter Company of Nigeria.
In addition to policy reforms, the ministry is working on legislative efforts to strengthen the legal framework guiding the industry. This includes the Metallurgical Industry Bill, the National Metallurgical Training Institute Bill, and proposed amendments to the National Steel Council Act. These initiatives, the minister said, are aimed at creating a stable and attractive regulatory environment for investors.
Audu also announced new investments already flowing into the sector, citing a $400 million project by Stellar Steel Company Limited, part of the Inner Galaxy Group, to produce hot-rolled steel coils and plates. He also mentioned a $100 million galvanising plant launched by Orbit Fabrication and Galvanising Works Limited, a subsidiary of the African Industries Group, with an annual capacity of 50,000 tonnes.
The summit will also address long-standing bottlenecks affecting the industry, such as unreliable power supply, logistics constraints, outdated infrastructure, and the need for skilled labour. Stakeholders will explore solutions related to raw material sourcing, sustainable mining, job creation, and legal safeguards for investors.
The Permanent Secretary of the ministry, Dr. Chris Isokpunwu, added that the summit aligns with the Tinubu administration’s Renewed Hope Agenda and provides a chance to evaluate reform efforts and gather feedback from sector players. He described the event as a call for decisive and coordinated action to elevate Nigeria’s steel production capacity and position the country as a leading steel hub in the Sub-Saharan region.
Responding to journalists’ questions, the minister revealed that a comprehensive technical and financial audit of the Ajaokuta Steel Plant is underway. The findings will determine the plant’s current status and help facilitate a public-private partnership model for its eventual operation. He said the audit is key to ensuring that Ajaokuta becomes commercially viable and fit for modern steel production.
Audu reiterated the central role of the steel industry in supporting key sectors of the economy such as construction, defence, shipbuilding, oil and gas, telecommunications, and manufacturing. He stressed that the summit is not just a ceremonial gathering but a practical step toward industrial renewal, economic growth, and long-term investment in Nigeria’s future.
