The Minister of Steel Development, Shuaibu Audu has called for stronger collaboration between the government, private investors, and other stakeholders to address the challenges confronting Nigeria’s steel sector.
Audu made the call while declaring open the Nigeria Steel Forum, a sideline event at the 10th Nigeria Mining Week in Abuja.
The minister, while unveiling a comprehensive strategic vision aimed at reviving the steel industry and positioning it as a key catalyst for national industrial growth, described the forum as a pivotal moment in Nigeria’s quest for self-sufficiency in steel production.
He noted that only four African countries—Egypt, South Africa, Algeria, and Morocco—accounted for 88 per cent of the continent’s steel output in 2023, despite Nigeria’s abundant iron ore deposits.
He stressed that closing this gap requires coherent policies, private sector leadership, and deliberate investment in infrastructure and capacity development.
Audu reaffirmed the government’s commitment to creating an enabling environment for investors through favourable fiscal incentives, legal reforms, and public-private partnerships.
He added that the administration’s goal is to make Nigeria a regional hub for steel production, targeting 10 million tonnes of crude steel annually by 2030 and creating over 500,000 direct and indirect jobs.
The minister commended the Ministry of Solid Minerals Development, under the leadership of Dele Alake, and the event organisers for integrating the Steel Forum into the Nigeria Mining Week to foster cross-sector collaboration.