By Palma Ileye
Federal Government through the Ministry of Steel Development as part of its efforts to rebuild and unlock the nation’s steel potentials has announced the hosting of its inaugural National Steel Summit 2025.
The Summit, themed; “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” is expected to hold, Wednesday, 16th to Thursday, 17th July 2025, at the NAF Conference Centre, Jahi, Abuja.
Speaking at a Pre-event press conference held at the Ministry’s Headquarters in Abuja, the Minister of Steel Development, Prince Shuaibu Abubakar Audu, stated that the Summit aims to assemble key stakeholders to appraise the current status of the industry, explore investment opportunities, identify policy and infrastructural needs and adopt a consensus way forward for the revival and sustainable development of the Nigeria’s Steel sector.
Audu said that stakeholders will be given an even platform to interact on mutual areas of collaboration especially in market promotion and infrastructure sharing windows for competitive production.
He disclosed that the Summit, will be declared open by the President of the Federal Republic of Nigeria, His Excellency, Asiwaju Bola Ahmed Tinubu.
He stated that there will be executive parley amongst selected policy makers, Paper presentations, Panel Discussions, Questions and Answers, Exhibitions assuring that all stakeholders’ contributions would be given adequate consideration in the emerging Steel sector in Nigeria.
According to him, despite the chequered history of Steel development in Nigeria which dates back to 1958, the present Renewed Hope Administration of President Bola Ahmed Tinubu, was already pushing the right buttons to ensure the emergence of a virile steel industry in Nigeria.
The Minister listed key mandate instructions as follows: “That the utilization of the abundant Steel Raw Materials in Nigeria for the substitution of imported Steel products which has been draining our foreign exchange to the tune of over $4Billion USD per annum.
“That we enthrone a regulatory regime that would ensure sustainable Steel and Non-Ferrous Metals production in Nigeria for both local and international markets.
“That we set and monitor quality standards for local and foreign Steel products to eradicate structural failures in different construction projects in Nigeria.
“Generate massive employment for our teeming youths and promote technology transfer for Nigeria’s economic development.”
Explaining, he said, “The media is aware that the renewed hope efforts in the last 20 months has already started yielding notable milestones and more will be harvested in due course.”
He revealed renewed vigor in the resuscitation of the legacy assets namely; Ajaokuta Steel Company Limited, National Iron Ore Mining Company, Former Delta Steel Company Limited, Aluminium Smelter Company of Nigeria, Jos Steel Rolling Mill amongst others.
He also revealed that renewed investors’ confidence in the sector has led to the Stellar Steel Company Limited (a member of the Innergalaxy Group) committing investment of $400Million for the establishment of Steel facility for the production of hot rolled coils/plates.
Similarly, he said that the Orbit Fabrication/Galvanising Works Limited (a member of African Industries Group) has also commissioned a 50,000tonnes galvanising plant valued at close to $100 million amongst other new investments into the sector.
The Minister noted that the effective collaboration with the Legislature has led to urgent actions on key legislations namely; Metallurgical Industry Bill, National Metallurgical Training Institute, Onitsha establishment Bill and National Steel Council Act amendment Bill adding that, “We held a Stakeholders meeting with the National Assembly on this earlier this year.”
He also said that effective supervision and collaboration with the private Steel companies has resulted in increased capacity utilisations through incentive supports.
“The technical sessions and panel discussions during the event will x-ray critical areas of the industry from diverse perspectives including: Resuscitation of the legacy Steel projects, the issues and way forward; Competitive Steel Industry in Nigeria, the essential role of logistics infrastructure and efficient/affordable energy supply.
“The need for a robust legislative framework for the sustainable development of the sector, Investments in Mining and Local Raw Material Sourcing in Nigeria; The issue of aging workforce in the industry and the urgent need for increased investment in human capital development,” he added.
Saying that the role of the Steel industry in any modern economy cannot be over emphasised, he enjoined the media houses to use various platforms to partner with the Ministry of Steel Development to create a National Steel sector that will service critical sectors of the Nigerian economy such as: Construction, Automobile, Defence, Shipbuilding, Road and Rail, Transportation, Telecommunication Agriculture and Food Security, Aviation, Oil/Gas Infrastructures, Equipment and Tools.
He charged, “As we look forward to a robust exchange of ideas, business networking and deal closures as well as mutual partnership to move the agenda from just rhetoric to critical, collaborative, and progressive actions. Ultimately, we shall position Nigeria as a major Steel hub for Sub-Sahara Africa whilst making significant contribution to national GDP.”
Also, the Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu, appraised the steel sector saying it was the bedrock of industrialization noting that, this maiden National Steel Summit, marked a pivotal moment in the national quest to rebuild and consolidate Nigeria’s steel industry through inclusive dialogue, strategic policy formulation, and targeted investment.
He said that the National Steel Summit was a major initiative of the Ministry of Steel Development aimed at repositioning the steel sector as a key driver of Nigeria’s industrialization and as economic transformation.
Isokpunwu noted that the Summit, will provide a unique platform for stakeholders across governnment, industry, the academia, finance, and development sectors to engage on practical steps for revamping the steel industry as it also reflects collective ambition to revive the sector through strategic partnerships, sound policies, investment promotion, and capacity building.
This maiden Summit coming at about the two (2) years anniversary of President Bola Ahmed Tinubu’s Renewed Hope Agenda will accord the Ministry an opportunity to share the Renewed Hope vision, the milestones recorded so far and receive feedbacks from stakeholders.
