…Visits Proforce, other indigenous equipment manufacturers, solution providers
The Minister of Steel Development, Prince Shuaibu Audu has performed the official groundbreaking ceremony for Inner Galaxy Group’s Stellar Steel Plant – a major $400 million investment project located in Ogun State.
The Stellar Steel Plant, which will occupy more than 100 hectares of land upon completion, is expected to produce hot-rolled coils, a vital material in the steel production value chain. Once operational, the plant is projected to significantly reduce Nigeria’s $4 billion annual steel import bill. It is also expected to strengthen the country’s foreign exchange position, stimulate industrial growth, diversify the economy beyond oil and gas, and create over 3,500 direct and indirect jobs for Nigerians.
This groundbreaking follows closely on the heels of the commissioning of the African Industries Group’s galvanised steel plant in Lagos by the same minister. That plant, with an estimated annual turnover of $100 million, was launched earlier in the week as part of Audu’s one-week official tour of Lagos and Ogun states. The visits aim to deepen engagement with private sector players in the steel industry and further drive Nigeria’s industrial development agenda.
During the groundbreaking ceremony, Audu lauded the Inner Galaxy Group for its substantial commitment to Nigeria’s steel sector revival, which aligns with President Bola Tinubu’s ‘Renewed Hope’ agenda. He reiterated the Federal Government’s dedication to creating a conducive environment for private investment in the steel sector, emphasising that private sector partnerships are essential to economic growth.
“As you are aware, this is one of the most robust cabinet teams assembled by any president since Nigeria’s return to democracy in 1999,” Audu said. “President Tinubu is known for selecting the best minds and leaders to drive his vision. This $400 million investment is a major milestone and I commend the Inner Galaxy Group for their faith in Nigeria’s economic potential.”
He expressed confidence in the company’s ability to complete the Stellar Steel Plant on schedule, pledging to return for its commissioning by April 2026. The minister highlighted Inner Galaxy Group’s strong track record in Nigeria, including its development of the country’s largest lithium factory in Nasarawa State and a $150 million battery recycling facility in Aba, Abia State.
“I have personally come to support this 400-million-dollar investment in the steel sector,” the minister said. “It is an impressive project, and I am proud to perform the groundbreaking ceremony today. Under the Renewed Hope Agenda, we are committed to building a $1 trillion economy by 2030. Steel is the backbone of industrialisation – from road construction and energy infrastructure to defence systems – and this project demonstrates the kind of public-private collaboration we need to compete on the African continent and globally.”
He continued, “We want to position the Nigerian economy as one of the largest in the world by 2030. China has achieved this over the last three decades, thanks to a clear strategy and rapid execution. We are committed to following a similar path – one focused on industrial capacity, infrastructure and innovation.”
Speaking through an interpreter, vice-president of Inner Galaxy Group, Mr. Jackie Shan conveyed the appreciation of the company’s chairman, Mr. Li Chuang. He thanked the Federal Ministry of Steel Development for its efforts in revitalising the steel sector and creating a platform for meaningful investment.
As part of his working visit to Ogun State, Audu also toured the facilities of Proforce Defence Solutions in Ode Remo and Epail Nigeria Limited in Mowe. These visits align with the Federal Government’s broader plan to develop a military-industrial complex within the Ajaokuta Steel Complex and to promote local production of defence hardware.
At Proforce, the minister reiterated the importance President Tinubu places on establishing a military industrial base capable of supporting Nigeria’s internal security and defence needs.
“The President has repeatedly emphasised the need for a military-industrial complex in Nigeria,” the minister said. “We believe that Ajaokuta can serve as the foundation for this vision. Building local capacity to produce military-grade hardware is not just critical – it’s urgent.”
The managing director of Proforce, Ayo Ogundeyin praised the minister’s dedication to transforming the steel sector. He said that with continued government support, Nigeria could soon emerge as Africa’s leading hub for defence manufacturing.
At Epail Nigeria, the minister commended the company’s adoption of advanced technologies in defence production. He expressed readiness to support the company’s operations and encouraged stronger collaboration between the government and private sector innovators.
Chairman of Epail Nigeria, Dr. Kola Balogun echoed that sentiment, highlighting the indispensable role of steel in the manufacture of defence equipment. He called for the establishment of a licensing and regulatory framework to support private military equipment manufacturers across the country.
In a statement issued by the ministry’s head of press and public relations signed by Ijomah Opia the government reaffirmed its commitment to fostering a competitive and regulated steel and defence manufacturing ecosystem that can help Nigeria achieve industrial self-reliance and sustainable economic growth.
