Nigeria Commits to Reviving Steel Sector for Economic Growth
Written by Faith Utubor on August 14, 2025
President Bola Tinubu’s administration has pledged to restore Nigeria’s struggling steel industry, targeting the revival of key facilities like the Ajaokuta Steel Company and National Iron Ore Mining Company in Itakpe.
Announced at the National Steel Stakeholders’ Summit in Abuja, the initiative aims to produce 10 million tonnes of liquid steel by 2030, create 500,000 jobs, and reduce the $4.5 billion annual steel import bill.
The government is auditing the Ajaokuta plant and seeking partnerships, particularly with China, due to complications with Russian collaborators.
Tinubu, represented by Vice President Kashim Shettima, underscored the sector’s revival as vital for industrial progress and national sovereignty.
