The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu has officially performed the groundbreaking ceremony for the $400 million Stellar Steel Plant by Inner Galaxy Group in Ogun State. The project is expected to create over 3,500 direct and indirect jobs, drastically reduce Nigeria’s $4 billion annual steel import bill, and support the Federal Government’s vision to build a $1 trillion economy by 2030.
The Stellar Steel Plant, which will occupy more than 100 hectares of land, is designed to produce hot-rolled coil, a critical material used in infrastructure, manufacturing, and defence industries. According to Lizzy Okoji, Special Adviser on Media to the Minister, the plant will serve as a cornerstone for the revitalization of Nigeria’s steel sector while strengthening the country’s foreign exchange position and enhancing local capacity.
Speaking at the event, Prince Audu praised Inner Galaxy Group for their unwavering commitment to industrial development in Nigeria. He emphasized that the Federal Government under President Bola Ahmed Tinubu’s Renewed Hope Agenda is committed to empowering private sector stakeholders to drive sustainable economic growth.
“This $400 million investment is a powerful testament to what can happen when the public and private sectors collaborate to unlock Nigeria’s full potential,” said Prince Audu. “Under President Tinubu, we are building the most effective cabinet in our democratic history to deliver on our promise of prosperity. Steel is the backbone of industrialization—roads, bridges, military hardware, and power infrastructure all depend on it.”
The Minister expressed confidence in Inner Galaxy Group’s capacity to deliver on schedule, citing their successful delivery of Nigeria’s largest lithium plant in Nasarawa and a $150 million battery-recycling plant in Aba, Abia State. He noted that the Stellar Steel Plant is expected to be completed and commissioned by April 2026.
Vice President of Inner Galaxy Group, Mr. Jackie Shan, speaking on behalf of Chairman Mr. Li Chuang, thanked the Federal Ministry of Steel Development for its visionary leadership. He reaffirmed the company’s dedication to boosting Nigeria’s industrial capabilities through high-impact investments.
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The Ogun State groundbreaking comes just days after the Minister commissioned the African Industries Group’s Galvanised Steel Plant in Lagos, with an estimated annual turnover of $100 million. These projects are part of a broader week-long tour of steel production facilities across Lagos and Ogun states, reflecting the Ministry’s aggressive push for local production and private sector engagement.
In line with the national security agenda, the Minister also visited Proforce Defence Solutions in Ode Remo and Epail Nigeria Plant in Mowe. These visits form part of the federal government’s strategic plan to develop a military industrial complex within the Ajaokuta Steel Complex.
During his stop at Proforce, Prince Audu reiterated President Tinubu’s vision of establishing local capacity for military hardware production, describing it as critical to national security. Proforce Managing Director, Mr. Ayo Ogundeyin, commended the Minister’s support and affirmed that Nigeria is well-positioned to lead Africa in defense manufacturing.
At Epail Nigeria, the Minister lauded the company’s adoption of advanced defense technologies and reiterated the government’s readiness to deepen collaboration. Epail Chairman, Dr. Kola Balogun, emphasized the role of steel in defense manufacturing and called for a regulatory framework to support licensed private military equipment manufacturers.
With the launch of the Stellar Steel Plant and other industrial milestones, the Tinubu administration is solidifying its commitment to transforming Nigeria’s steel industry into a powerhouse for job creation, infrastructure development, and economic independence.
