Email: info@steel.gov.ng
Call: 234-(0)- 703 592 2055
MINISTRY OF
STEEL DEVELOPMENT (MSD)
Federal Republic of Nigeria
Welcome To Ministry Steel Development.
Minister Of Steel Development, Prince Shaibu Abubakar Audu.
Permanent Secretary, Dr. Chris O. Isokpunwu.
On The Line Of Duty.
Steel Production.
Steel Production.

LATEST PRESS


Feb
13
2026

AJAOKUTA, ACCOUNTABILITY AND THE LIMITS OF CONFRONTATION: WHY SENATOR NATASHA AKPOTI-UDUAGHAN GOT IT WRONG

The recent heated exchange between Senator Natasha Akpoti-Uduaghan and the Minister of Steel Development, Prince Shuaibu Audu, during the joint budget defence session of the National Assembly has once again drawn national attention to the long-suffering Ajaokuta Steel Company. While robust oversight is a constitutional duty of lawmakers, the tone, framing, and substance of the senator’s intervention raise important questions about method, motive, and maturity in public discourse.
No one disputes that Ajaokuta Steel Plant is a national tragedy of stalled ambition. For over four decades, successive governments have pledged to revive it. Billions of dollars have been expended with little to show. It is therefore understandable that emotions run high whenever the plant is discussed. However, passion must not eclipse prudence, especially in a forum as consequential as a joint budget defence session.

Senator Akpoti-Uduaghan’s comparison of Ajaokuta’s funding needs with the proposed 750-kilometre coastal road project—reportedly costing ₦15 trillion—was rhetorically striking but fundamentally flawed. National budgeting is not a zero-sum emotional contest between projects. Infrastructure priorities are determined by strategic economic frameworks, sectoral projections, financing structures, and long-term development plans. The coastal road, whether one agrees with it or not, is a transportation and logistics infrastructure project expected to unlock coastal economies and attract private capital. Ajaokuta, on the other hand, is a heavy industrial project with complex technical, legal, and financial entanglements spanning decades.

To juxtapose both projects as though one automatically undermines the other oversimplifies Nigeria’s economic planning process. It creates a false dichotomy and fuels public resentment rather than constructive debate. Ajaokuta’s revival requires clarity of ownership, technology partnerships, commercial viability studies, and credible financing models—not rhetorical comparisons designed to inflame.

Furthermore, questioning “the government’s real intention” in reviving the plant suggests bad faith without presenting concrete evidence of sabotage or insincerity. Oversight should interrogate timelines, procurement processes, and measurable deliverables. It should not descend into insinuations. When lawmakers imply hidden motives without substantiation, they risk eroding public trust in institutions rather than strengthening them.

The senator also criticized the committee for holding meetings and engaging with the media, suggesting that these efforts have yielded minimal impact. Yet legislative oversight often begins with consultations, stakeholder engagements, and policy reviews. A project as legally entangled as Ajaokuta—especially after arbitration disputes and international contractual complications—cannot be revived by fiat. It requires deliberate restructuring. Public hearings and media engagements are part of democratic accountability, not evidence of inaction.
Perhaps most contentious was her reference to the 2019 Nigeria–Russia bilateral agreement, under which $1.45 billion was reportedly pledged for Ajaokuta. Her caution that the minister should not “mislead Nigerians” implies that he may have misrepresented the status of that agreement. While transparency is essential, such accusations should be supported by documentary clarity rather than delivered in confrontational soundbites.

International agreements are often subject to renegotiation, feasibility assessments, and sovereign guarantees. A pledge is not the same as disbursed capital. Many bilateral memoranda of understanding never translate into cash-backed commitments. If the Russian facility remains contingent or conditional, it is legitimate for the minister to explain its current status without being accused of dishonesty. To frame policy complexities as deception risks politicizing what should be a technical discussion.
There is also the matter of decorum. Budget defence sessions are not campaign rallies. They are structured engagements where ministers present fiscal plans and legislators scrutinize them. Heated exchanges may generate headlines, but they do little to foster collaborative solutions. Nigeria’s steel sector has suffered not just from funding deficits but from policy inconsistency and political theatrics. What it needs now is stability.

It is worth noting that Minister Shuaibu Audu assumed office within a broader reform agenda aimed at repositioning the mining and steel sectors as pillars of economic diversification. His tenure, still relatively recent in the lifespan of Ajaokuta’s decades-long stagnation, cannot be solely blamed for historical inertia. Demanding immediate transformation of a project that has been dormant for over 40 years ignores the structural realities involved.

Constructive oversight would involve requesting detailed implementation timelines, insisting on performance benchmarks, and proposing legislative support mechanisms such as special purpose vehicles, concession frameworks, or public-private partnerships. It would not rely primarily on dramatic comparisons or adversarial posturing.

Moreover, public confidence in Ajaokuta’s revival depends on unified messaging from political leaders. Investors—local and international—observe these proceedings. When they see discord framed as distrust between legislative and executive arms, it reinforces perceptions of instability. Industrial megaprojects require investor confidence anchored in predictable governance.

This is not to suggest that Senator Akpoti-Uduaghan should remain silent. On the contrary, her constituency in Kogi Central has a legitimate interest in Ajaokuta’s success. Her advocacy for the plant is understandable and commendable in principle. However, advocacy must be strategic. Effective lawmakers build coalitions, engage quietly where necessary, and apply pressure through structured channels. Confrontation for its own sake may win applause in partisan circles but rarely accelerates complex industrial reforms.
The revival of Ajaokuta demands less grandstanding and more governance. It requires technical audits, credible investors, dispute resolution mechanisms, and political alignment. It also requires acknowledging that no single minister or senator can single-handedly fix what decades of mismanagement created.

In the end, Nigerians deserve transparency, realism, and responsibility. They deserve leaders who debate vigorously yet respectfully, who challenge figures with facts rather than insinuations, and who recognize that economic transformation is a marathon, not a media moment.
Senator Akpoti-Uduaghan’s passion for Ajaokuta is not in question. What is in question is whether her approach during the budget defence advanced the cause of steel revival or merely amplified political friction. At a time when Nigeria seeks industrial rebirth, the country needs statesmanship more than spectacle.

Ajaokuta is too important to become a stage for antagonism. It must instead be the arena for collaboration, clarity, and credible commitment. Only then can the promise of Nigeria’s steel dream move from perpetual debate to practical delivery.

Aug
14
2025

REBUILDING NIGERIA STEEL INDUSTRY: GOVERNMENT AND PRIVATE SECTOR UNITS FOR GROWTH ...As the Ministry of Steel Development holds the Maiden Edition of the National Steel Summit in Abuja. President Bola Ahmed Tinubu, GCFR, has declared the Inaugural National Steel Summit open, marking a significant milestone in Nigeria's quest to revitalize its steel industry. Represented by the Vice President, Kashim Shettima, GCON, the President emphasized the critical role of the steel sector in driving industrial growth, economic diversification, and national security. He stated that the Renewed Hope Agenda of this administration has laid a robust foundation for the revitalisation of the Nigerian Steel industry through strategic policy decisions, substantial investment, international collaborations and intensified efforts to foster private sector participation in driving economic growth. He disclosed that more tangible outcomes are anticipated in the coming years. Adding that these concerted efforts signify a renewed commitment to harnessing the steel sector as a catalyst for Nigeria industrial and economic transformation.  According to him, the bid to rebuild the Nigerian Steel Sector is not just an economic agenda, but a National mission. He noted that the steel industry will not be revitalised by the government alone, as the government needs the boldness of private investors, the innovation of our universities, the skill of our workers and the patronage of our people. We must abandon short-term thinking and embrace long term nation building. There will be impediments but with systematic implementation disciplined governance, and unity of purpose, Nigeria will overcome the legacy of failure and fulfil the promise of industry greatness, he stated. Speaking further, Senator Shettima stated that Nigeria target to produce 10 million tonnes of liquid steel annually by 2030, creating over 500,000 direct and indirect jobs. "The Federal Government is prioritizing the completion and commissioning of the Ajaokuta Steel Company and National Iron Ore Mining Company, with a comprehensive technical and financial audit underway. The government has attracted a $400 million investment in a new steel plant in Ogun State and $500 million worth of mini-LNG plants in Kogi State, the Ministry of Steel Development is partnering with the Ministry of Defence and Defence Industries Corporation of Nigeria to produce military hardware locally, efforts are underway to also revive legacy steel projects, including the resuscitation of Delta Steel Company (now Premium Steel and Mines Limited)" The Vice President said the objective is for the nation to achieve self-sufficiency in steel production, conserve foreign exchange, and build the industrial base that will drive Nigeria's economy for generations to come, to create a competitive steel industry in Nigeria, with a focus on logistics infrastructure, affordable energy access, and regulatory frameworks, identify opportunities for investment in mining and local sourcing of steel raw materials. "We will rethink, retool, and revitalize Nigeria's steel sector to secure our industrial future.  Speaking earlier, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu emphasized the importance of the steel sector in Nigeria's economic development, highlighting its potential to drive industrialization, manufacturing, and natural resource utilization. He noted that the sector's growth is crucial to achieving President Bola Ahmed Tinubu's Renewed Hope Agenda, which aims to grow Nigeria's GDP to $1 trillion by 2030. The Minister stressed that the steel industry is a backbone of industrialized value chains, providing essential materials for construction, automobiles, electronics, shipbuilding, and military equipment. Prince Shuaibu stated that the Nigerian steel industry has a rich history, dating back to 1958 when the Federal Government conceptualized establishing an iron and steel industry and despite abundant steel-making raw materials, the industry has struggled over the past decades due to the absence of operational integrated steel plants. He however stated that the present administration is putting modalities in place to change that narrative.  The Minister outlined key enablers for the Nigerian steel industry, including abundant steel raw materials, import duty-free mining/steel plant equipment, and ease of doing business in Nigeria. He emphasized the importance of local steel production in driving massive local steel raw materials consumption, generating employment opportunities, and promoting technology transfer. He added also, that the Ministry is working to generate resource data on iron ore to drive investments in the sector and collaborating with critical stakeholders across the Federal Government. ""To promote the steel industry, the Federal Government has introduced fiscal incentives, such as capital allowances of up to 95% of qualifying capital expenditure, exemption from customs and import duties for plant, machinery, and equipment, and tax holidays".  The Minister also highlighted the significance of infrastructure development, including transportation, power supply, and port facilities, in making the industry more competitive. The Honourable Minister concluded by emphasizing the importance of the Summit in deepening collaborative partnerships, knowledge exchange, and inclusive dialogue to forge a common direction for a sustainable Nigerian steel industry. He charged stakeholders to take the event seriously, noting that they are at the threshold of history, both collectively and individually as the summit aims to position Nigeria as a regional hub in Africa, leveraging the various obvious enablers in the country's advantage. Delivering his speech at the Summit, The Honourable Minister of Transportation, Senator Said Ahmed Alkali, urged all the distinguished participants to maximize the potentials of the Summit which will, among others, provide the enabling atmosphere to discuss the strategies of operationalizing the 10-year National Steel Roadmap development to guide sustainable growth with a target if 10 million tons Crude Steel Production per year. In his remarks, Distinguished Senator Patrick Chiwuba Ndubueze, Chairman Senate Committee on Steel in the National Assembly assured the Ministry, Stakeholders and other participants that the Senate will give all the necessary legislative backing to ensure speedy development of the Nigerian Steel sector to meet up to its objective of the industrialization of the Nation. The Honourable Minister of Solid Minerals Development, Dr. Dele Alake and the Minister of Industry, Trade and Investment Dr. Jumoke Oduwole in their separate remarks at the summit assured of their support and partnership in the effort to revitalize the steel sector under the Renewed Hope Agenda of the Government of President Bola Ahmed Tinubu, GCFR, which they are all committed to. Earlier in his welcome address, The Permanent Secretary of the Ministry of Steel Development, Dr. Chris Osa Isokpunwu, also emphasized the importance of collaborative action in rebuilding and consolidating Nigeria's steel industry as he highlighted the critical role of the steel industry in driving industrial growth, economic diversification, and national development. Dr. Chris stated that the Summit, themed "Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness," aims to bring together policymakers, industry leaders, investors, researchers, and development partners to drive collaborative action for sustainable growth and global competitiveness in Nigeria's steel industry, adding that the Ministry is committed to creating an enabling environment for investment, reviving moribund steel plants, strengthening the value chain, and promoting sustainable mining and processing practices. He said the outcome of the Summit will provide valuable inputs for the development of a National Strategic Plan of Action for the Steel and Metallurgical Sector, which will guide sector-wide interventions, prioritize infrastructure development, attract sustainable investments, promote research and innovation, ensure environmental sustainability, and position Nigeria as a competitive player in the global steel market.

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Jun
22
2025

Minister of Steel Development Welcomes Benin President, Patrice Talon to West African Economic Summit …Reaffirms President Tinubu’s Pledge to National and Regional Economic Growth The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, on Saturday, June 21, 2025, received the President of the Republic of Benin, His Excellency Patrice Talon, on behalf of the President of the Federal Republic of Nigeria, His Excellency President Bola Ahmed Tinubu, GCFR, who is hosting the ongoing West African Economic Summit in Abuja, Nigeria. The West African Economic Summit (WAES 2025), themed “Unlocking Trade and Investment Opportunities in the Region,” is aimed at accelerating intra-regional economic growth, enhancing integration and resilience, harmonising trade policies, and removing barriers to intra-African commerce. It also seeks to mobilise investment for critical infrastructure, energy, and logistics; empower women, youth, and SMEs; and strengthen economic resilience through innovation, institutional reforms, and strategic partnerships. Prince Audu, who joined President Bola Ahmed Tinubu and other Heads of State and Government from across West Africa, described the Summit as a regional amplifier of the Renewed Hope Agenda, reflecting Nigeria’s economic reform efforts within a broader West African framework. “Mr. President has consistently reiterated his vision to grow the Nigerian economy to $1 trillion before the end of this administration. He has matched his words with action through bold and strategic reforms. Hosting the West African Economic Summit, in his capacity as Chair of the Authority of ECOWAS Heads of State and Government, reaffirms his commitment to regional growth and cooperation.” “President Tinubu’s vision extends beyond Nigeria to the entire sub-region. This Summit creates a critical platform for dialogue, collaboration, and progress toward shared prosperity in West Africa.” “At the Ministry of Steel Development, we are fully aligned with the Renewed Hope Agenda and are working tirelessly to contribute meaningfully to both national and regional economic development,” Prince Audu stated.

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PRINCE SHAIBU A. AUDU
Honorable Minister
Federal Ministry of Steel Development
DR. CHRIS O. ISOKPUNWU
Permanent Secretary
Federal Ministry of Steel Development

Vision

“To have a virile sustainable and inclusive steel industry that can compete globally and be driving for industrial and economic growth of our country while maintaining internationally acceptable standard”

Mission

“To ensure industry and Government strengthen the capability and competitiveness of Nigeria steel industry to achieve self sufficiency in steel production by providing policy support and guardian and to help mitigate potential challenges and barriers that are preventing the growth of Nigeria steel industry”

OTHER NEWS


Nov
23
2023

MINISTRY OF STEEL DEVELOPMENT PARTNERS NIPC ON REVIVAL OF NMTI/NSRMEA

In line with the Renewed Hope Agenda of the Bola Ahmed Tinubu’s Administration and in achieving its mandate of ensuring that the nation’s Steel Sector contribute to the sustainable development of the economy and grow the Gross Domestic Product (GDP), the Ministry of Steel Development is to collaborate with the Nigerian Investment Promotion Commission for the development of the sector in general and the Revitalization and Operationalization of the National Steel Raw Materials Exploration Agency (NSRMEA) Kaduna and the National Metallurgical Institute, Onitsha.

This was disclosed by the Honourable Minister of State, Ministry of Steel Development, His Excellency, Uba Maigari Ahmadu when he played host to the Executive Secretary/CEO of the Nigerian Investment Promotion Commission, Aisha Rimi in the Ministry’s Headquarters on Thursday, 23rd November, 2023 in Abuja.

He enumerated the areas of collaboration to include among others: Organizing local and international investment fora for relevant stakeholders to showcase the full potentials of the NMTI with the view of attracting investments and funding for modernizing and upgrading the institute’s facilities, curriculum, and training programs to meet industry international best standards and demand; Develop Policy Reforms and incentives that would be inclusive but not limited to legal, governance, finance tax incentives, and regulatory reforms that would reposition the institute to contribute more meaningfully to national manpower and infrastructure development.

The Minister listed more areas of collaboration to include: Identifying local and international multilateral, multinational, Institutional and venture capitalists who can inject technical and financial capital into revitalizing the institute and position it as a center of excellence for metallurgical training and skills development; Establishing a PPP (Public Private Partnership) framework for the revival of NMTI that would involve engaging with private sector stakeholders, such as steel companies, mining firms, and educational institutions, to form partnerships aimed at modernizing the institute and aligning its training programs with industry.

Continuing, he identified areas of partnership with NIPC for NSRMEA to comprise: Accelerating Investment interest from both Local and International Investments in Exploration Projects, with special interest in steel raw materials such as Iron ore, Manganese, Coal, Refractory, Limestone, through establishing partnerships with mining companies and exploration firms; Organizing targeted investor outreach programmes to engage potential investors interested in supporting the exploration and development of steel raw materials as well as Advocating for Policy Reforms and incentives to encourage private sector investment in raw materials exploration.

Additionally, the Minister disclosed that, Niger Extraction Company Ltd, a Nigerian Company registered to undertake mining and steel development has sent in a proposal for the establishment of a $300m Steel Plant in Niger State, a development which according to him, indicates that the Steel Sector is set to take off and deliver on its mandate.

Maigari Ahmadu expressed the Ministry’s willingness to leverage on the expertise and networks of NIPC, noting that the collaborative efforts of both Organisations would help attract private sector investment, modernize exploration techniques, and enhance the capacity of NMTI and NSRMEA to fulfill their mandates.

Also speaking, the Permanent Secretary, Ministry of Steel Development/Ministry of Solid Minerals Development, Dr. Mary A Ogbe, while expressing optimism that the collaboration between the Ministry of Steel Development and the Nigerian Investment Promotion Commission is a step in the right direction, reiterated the Ministry’s commitment to ensure the goals set during the deliberations are achieved. She added that it was time the Steel Sector brought the needed prosperity to the people of Nigeria.

The Permanent Secretary proposed the establishment of a Technical Working Group (TWG) with members drawn from the Ministry of Steel Development and NIPC, with the sector specific experts who will develop a framework that will enhance the development of the sector on a general scale and the National Metallurgical Institute, Onitsha and National Steel Raw Materials Exploration Agency (NSRMEA) Kaduna,
specifically.

In her remarks, the Executive Secretary/CEO of Nigerian Investment Promotion Commission, Aisha Rimi stated that the Commission’s mandate is to provide assistance to investors seeking to enter the and those that are already in the country. She disclosed that NIPC has extensive and robust Departments that assist in carrying out adequate care and after care for investment and investors.

Rimi assured of the Commission’s commitment to ensure all assistance is given to the Steel Sector to promote direct foreign investment into the country.

 


Aug
29
2023

FG COMMITS TO INSURANCE COVERAGE -UNVEILS OVERHAULING STRATEGY FOR NIGERIA’S STEEL SECTOR REVIVAL

The Federal Government through the newly created Ministry of Steel Development has taken significant steps towards rejuvenating the nation’s steel sector by announcing a comprehensive insurance coverage for all ongoing steel projects within the country.

The Hon. Minister of Steel Development, Prince Shuaibu Abubakar Audu made this declaration during a crucial meeting with key agencies under the Ministry. These are namely- Ajaokuta Steel Company Limited; National Iron -Ore Mining Company, Itakpe; National Steel Raw Materials Exploration Agency; Metalurgical Training Institute and National Metallurgical Development Center, Jos.

During the interface with the DGs of Agencies, Prince Audu explained that the deliberate policy of the present administration to introduce insurance coverage for steel projects is a critical step to mitigate the risks and uncertainties inherent in large scale developmental endeavors.

The Hon. Minister further stated that by providing this insurance coverage, the government aims to foster an environment that is conducive to attracting investments in to the steel sector, securing financing and expediting the successful completion of various steel related initiatives across the country.

To this end, Prince Audu noted that to ensure a structured successful implementation of this policy, the Ministry would outline a comprehensive two- year activation plan- adding, the strategic plan is designed to catalyze the revival of all steel associated interventions: Which underscored a steadfast commitment to achieving tangible progress within stipulated timeframe.

Continuing, the Hon. Minister for Steel Development affirmed that the journey towards revitalizing the steel sector is beyond insurance coverage. He said: “the government has devised a comprehensive overhauling strategy to tackle the multi- faceted challenges impeding the sector’s growth. Central to this strategy is the optimization of skilled labour and enhancing security measures to ensure safe and productive working atmosphere”.

While citing other indices for solutions, Prince Audu listed them to include- the rehabilitation of the rail infrastructure connecting the Itakpe and Ajaokuta Steel Complexes; a functioning rail network for transportation of raw materials and finished products. This, the Hon. Minister noted, has the potentials to significantly boost the operational efficiency of these complexes, thereby positively influencing the entire street value chain.

PUBLIC ANNOUNCEMENT


The attention of the Federal Ministry of Steel Development has been drawn to recent media reports regarding the future of the Ajaokuta Steel Company Limited (ASCL).
While we note the concerns expressed, it is important to state that the Federal Government remains firmly committed to the development of Nigeria’s steel sector, including the resuscitation of ASCL.

A comprehensive technical and financial audit of the plant is presently underway to ensure that any decision taken is transparent, data-driven and in the best interest of Nigeria. The overall assessment of the previous technical audit report dated 2018 maintained that the general status of the Steel Plant is in robust condition except for normal deterioration of replaceable parts and recommended automation of manual control systems for improved efficiency.  The Ministry remains confident that the updated audit will provide a sound basis for decisive action that advances Nigeria’s industrial aspirations.

The Federal Government is determined to build a competitive and modern steel industry that supports national industrialization and infrastructure growth.

Salamatu Jibaniya
Head, Press and Public Relations Department
for:  Ministry of Steel Development

 


Steel Price

PHOTO NEWS


Feb
13
2026

2024/2025 BUDGET APPRAISAL AND 2026 BUDGET DEFENCE DRIVE STEEL SECTOR OVERSIGHT

Prince Shuaibu Abubakar Audu, Honourable of Steel Development (L) with Honorable Dr. Zainab Gimba (R), Chairman, House of Representatives Committee on Steel Development during the Ministry's appearance before the House of Representatives Committee on Steel for the Appraisal of the 2024/2025 Budget Performance and the Defence of the 2026 Budget Proposal of the Ministry, held on Thursday 12th February 2026 in Abuja.

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PHOTO NEWS


Feb
11
2026

STEEL MINISTER AND SENATE COMMITTEE LEADERS MEET FOR 2024/2025 BUDGET APPRAISAL AND 2026 BUDGET DEFENCE AT NATIONAL ASSEMBLY

Senator Natasha Akpoti-Uduaghan, Vice-Chairman, Senate Committee on Steel;  Senator Patrick Ndubueze, Chairman Senate Committee on Steel and the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu during the Ministry's appearance before the Senate Committee on Steel Development for the Appraisal of the 2024/2025 Budget Performance and the Defence of the 2026 Budget Proposal of the Ministry

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