KEY POINTS
- Nigeria targets 10 million tonnes liquid steel by 2030.
- Ajaokuta Steel Plant to be operational in three years.
- Government seeks private investment and academic innovation.
Nigeria is mapping out an ambitious path to reclaim its place in global steel production, setting a 2030 target to churn out 10 million tonnes of liquid steel.
President Bola Tinubu announced the plan at the inaugural National Stakeholders Summit on Steel Development in Abuja, calling the sector “the bedrock of industrialization.”
Represented by Vice President Kashim Shettima, Tinubu underscored the need for private sector investment, academic innovation, and public patronage to reverse decades of underperformance in an industry where Nigeria still imports over 90% of its steel.
Nigeria steel industry revival gains political backing
The President promised to overhaul the moribund Ajaokuta Steel Plant, long considered a symbol of missed industrial opportunity. A specific three-year plan will focus on making it operational, alongside a broader 10-year strategy for the sector’s revival.
Ajaokuta Steel Plant in focus
Plans include infrastructure upgrades, regulatory reforms, and capacity building to create a fertile environment for investment. The government expects the revival to create more than 500,000 jobs.
Private sector urged to lead
Tinubu emphasized that revitalization will not be government-driven alone. He called for investors, research institutions, and skilled Nigerian workers to take a leading role in meeting the 2030 target.
