Vice President Shettima, Ministers, Lawmakers, and Industry Leaders Converge for Inaugural National Steel Summit in Abuja
President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to reviving Nigeria’s steel sector and transforming it into Africa’s leading steel hub by 2030. Represented by Vice President Kashim Shettima at the Inaugural National Steel Summit 2025, which began on August 13 and concluded on August 14 in Abuja, the President announced plans to produce 10 million metric tonnes of liquid steel annually and create over 500,000 direct and indirect jobs within the next five years.“This summit is more than a meeting; it is a call to action,” President Tinubu declared. “For nearly 50 years, we have nurtured the dream of becoming a regional steel powerhouse. Now, we are ready to make that dream a reality. Government can lead, but the private sector must invest, academia must innovate, and skilled workers must emerge.”
Vice President Kashim Shettima (Left) & Honourable Minister of Steel Development, Prince Shuaibu Abubakar AuduThe two-day summit, themed “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness”, brought together members of the Federal Executive Council, lawmakers, industry experts, private sector players, and other critical stakeholders to assess the current state of the industry, explore investment opportunities, identify policy and infrastructure gaps, and recommend consensus-driven solutions for sustainable development.
Highlighting ongoing initiatives, the President revealed that construction has commenced on five mini LNG plants in Ajaokuta, valued at over $500 million, as part of broader efforts to reposition the steel industry as the backbone of Nigeria’s industrial future. He noted that since the creation and reconfiguration of the Ministry of Steel Development in 2023, his administration has moved beyond building bureaucracy to creating “a critical engine for national transformation.”
Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, said the ministry is working to raise domestic steel production from about two million metric tonnes annually to 10 million by 2030, eliminate the $4 billion spent yearly on steel imports, and achieve self-sufficiency. “We want to ensure all regulatory frameworks and policies are in place to guide and shape the industry. The President has made it clear that the steel sector is pivotal to achieving a $1 trillion economy. This summit is bringing all stakeholders on board to make that vision a reality,” Prince Audu stated.
Delivering a goodwill message, Minister of Solid Minerals Development, Dr. Dele Alake, said the summit’s theme reflects the need for Nigeria’s steel sector to move “from stagnation to strength” and pledged his ministry’s support in aligning mining reforms with steel industry growth. Minister of Industry, Trade, and Investment, Dr. Jumoke Oduwole, highlighted the vast untapped potential in the steel value chain and promised collaboration with the private sector to drive expansion.
Minister of Transportation, Mr. Sai’du Ahmed Alkali, commended the summit’s timing and reaffirmed his ministry’s commitment to implementing the 10-year National Steel Roadmap. Representing the Senate President, Senator Patrick Ndubueze, Chairman of the Senate Committee on Steel Development, pledged legislative backing, saying lawmakers were ready to work with the Executive and stakeholders to build a competitive steel industry.
Permanent Secretary, Ministry of Steel Development, Dr. Chris Osa Isokponwu, stressed that the sector cannot thrive in isolation, calling for “a coalition of willing and capable partners” to create a strong, self-reliant, and industrially advanced Nigeria.
Kashim Shettima, Hon Shuaibu Audu, & Dignitaries At The EventParticipants at the summit emphasised that steel, extracted from iron ore, is a critical driver of infrastructure development, manufacturing expansion, and national defense capability. Nigeria, which holds an estimated 3 billion metric tonnes of iron ore deposits in states including Kogi, Enugu, Niger, and the FCT, still spends billions annually importing steel products. Stakeholders agreed that reversing this trend is essential to boosting GDP and industrial capacity.
The summit concluded with calls for urgent and coordinated action, with the hope that the outlined strategies will be fully implemented to make the steel sector a major contributor to Nigeria’s economic growth and global competitiveness.
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