The Minister of Steel Development, Prince Shuaibu Audu has reaffirmed the Federal Government’s commitment to leveraging the steel and metal industry to drive economic growth and industrialisation.
Speaking during a facility tour of the National Steel Raw Materials Exploration Agency (NSRMEA) and the Defence Industries Corporation of Nigeria (DICON) in Kaduna State on March 20, 2025, the minister emphasised that both agencies are crucial to Nigeria’s steel sector transformation.
Audu stated that under President Bola Tinubu’s ‘Renewed Hope’ agenda, the ministry aims to produce 10 million metric tonnes of steel annually, significantly reducing the country’s dependence on imported steel.
“Once our plans are fully implemented in the next five years, we will achieve all our objectives,” he assured.
The minister noted that Nigeria currently imports $4 billion worth of steel annually, stressing the urgent need for import substitution to ease pressure on foreign exchange. He described NSRMEA as a cornerstone in the administration’s ambition to grow Nigeria’s economy to $1 trillion by 2030.
“For Nigeria to produce steel in large quantities as we desire, it is very important that the exploration arm of the industry is operating at full capacity,” he said.
Prince Audu commended NSRMEA for being one of the best-performing agencies under the ministry, following recent performance assessments.
During his tour of DICON, the minister announced plans for a strategic partnership with the Ministry of Defence and DICON to manufacture military hardware locally. He disclosed that discussions between the Ministry of Steel and the Ministry of Defence had already begun.
A key component of this initiative includes integrating military hardware production into the Ajaokuta Steel Complex. The minister revealed that an MoU has been drafted and shared with DICON, pending presidential approval.
“One of the Federal Government’s key objectives is the rehabilitation of Ajaokuta Steel Company and we are working towards making it a hub for military-industrial production,” Audu added.
Audu also disclosed plans to organise Nigeria’s Inaugural Steel Summit, which will bring together stakeholders to develop a comprehensive blueprint for the sector’s sustainable growth and development.
While in Kaduna, the minister paid a courtesy visit to former President Muhammadu Buhari and also met with the Kaduna State governor, Senator Uba Sani, who was represented by the deputy governor, Dr. Hadiza Balarabe.
In her remarks, Balarabe assured the minister of the state’s government’s readiness to collaborate with the Federal Government and the Ministry of Steel Development.
“Kaduna is home to vast steel and natural resources. We urge the ministry to pay closer attention to the state,” she said.
Welcoming the Minister to NSRMEA, director-general of NSRMEA, Engr. Kolawole Ogunbiyi assured that the agency would maximise its available resources to support the ministry’s mission of industrialisation and job creation. He also highlighted some of the agency’s challenges and expressed confidence in the minister’s ability to address them.
Similarly, director-general of DICON, Maj. Gen. Aniedi Edet assured Audu of DICON’s readiness to collaborate with the ministry, particularly in the production of military hardware using Ajaokuta as a base.
Following the discussions, Edet led the minister and his entourage on a guided tour of the DICON facility, showcasing its human and material resources.
A statement from the ministry’s director of press and public relations signed by Opia Ijomah confirmed the minister’s visit and the progress made towards revamping the steel sector.
