The Minister of Steel Development, Prince Shuaibu Abubakar Audu, on Wednesday performed the groundbreaking ceremony for the $400 million Stellar Steel Plant, a major investment by Inner Galaxy Group, in Shagamu, Ogun State.
Spread over 100 hectares, the facility will produce hot-rolled coil — a vital raw material for Nigeria’s infrastructure and manufacturing sectors. When completed, it is expected to slash the country’s $4 billion annual steel import bill, ease pressure on foreign reserves, and create over 3,500 direct and indirect jobs. The plant is scheduled for completion by April 2026.
The groundbreaking follows closely on the heels of the recent commissioning of African Industries Group’s $100 million Galvanised Steel Plant in Lagos and forms part of the Minister’s official tour of steel facilities in Lagos and Ogun states.
Commending Inner Galaxy Group for aligning with President Bola Ahmed Tinubu’s Renewed Hope Agenda, Prince Audu described steel as central to the country’s industrial future.
“Steel drives infrastructure, energy, defence — everything. With projects like this, we’re laying the groundwork for a more competitive and resilient economy,” he said.
He also highlighted Inner Galaxy’s strong track record in industrial development, referencing the company’s lithium plant in Nasarawa — the largest in Africa — and a battery-recycling facility in Aba, Abia State.
Speaking on behalf of Inner Galaxy’s Chairman, Mr Li Chuang, Vice President Jackie Shan expressed appreciation for the government’s support and reaffirmed the company’s commitment to timely delivery of the project.
As part of his Ogun tour, the Minister also visited two indigenous defence equipment manufacturers: Proforce Defence Solutions in Ode Remo and Epail Nigeria in Mowe.
At Proforce, which manufactures armoured vehicles and tactical defence systems, Prince Audu reiterated the federal government’s plan to develop a military–industrial complex at Ajaokuta Steel Complex, positioning local defence production as key to Nigeria’s security strategy.
“Building local capacity for military production reduces dependence and enhances security,” he said.
Proforce Managing Director, Ayo Ogundeyin, emphasised the critical role of a revitalised steel industry in realising Nigeria’s ambition of becoming Africa’s top defence equipment producer.
In Mowe, the Minister commended Epail Nigeria for leveraging cutting-edge technology in its operations.
Epail Chairman, Dr Kola Balogun, urged the government to establish a clear licensing and regulatory framework to boost private-sector participation in defence manufacturing. He also underscored the importance of steel as a core input in defence production.
The visits underscored the federal government’s resolve to link industrial development with national defence, positioning steel as a strategic asset for both economic transformation and security resilience.
