In a major stride toward industrial development and economic diversification, Nigeria’s Minister of Steel Development, Prince Shuaibu Abubakar Audu, performed the groundbreaking of the $400 million Stellar Steel Plant by Inner Galaxy Group in Ogun State on Wednesday, April 23, 2025.

 

The Stellar Steel Plant is set to revolutionize Nigeria’s steel industry by producing hot-rolled coil, a core industrial input. Once completed by April 2026, the plant will:

• Significantly reduce Nigeria’s $4 billion annual steel import bill,
• Strengthen the nation’s foreign exchange reserves,
• Create over 3,500 direct and indirect jobs,
• And enhance local industrial output.

 

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The initiative aligns with President Bola Ahmed Tinubu’s Renewed Hope Agenda, aimed at reviving Nigeria’s manufacturing and industrial base.

 

Stellar Steel Follows Lagos Commissioning of AIG Galvanised Plant

The groundbreaking ceremony follows closely behind the commissioning of the AIG Galvanised Steel Plant in Lagos, marking a week-long tour by the Minister to engage key private steel stakeholders in Lagos and Ogun States.

 

The Minister praised Inner Galaxy Group for its commitment to reviving Nigeria’s steel sector, stating:

“This plant is a symbol of progress and a major step toward reducing our dependence on imported steel while creating real jobs for our people.”

 

Support for Indigenous Military Equipment Manufacturing

In addition to his steel agenda, Minister Audu visited Proforce Defence Solutions in Ode Remo, Epail Nigeria Plant in Mowe.

These visits support the Federal Government’s strategic goal of localizing military hardware production and developing a Military Industrial Complex at the Ajaokuta Steel Complex in Kogi State.

This groundbreaking marks a turning point in Nigeria’s industrial and defense self-sufficiency, setting the stage for long-term growth, job creation, and national security through steel-powered development.