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.

Oct
30
2024

MINISTER OF STEEL DEVELOPMENT WOOS FOREIGN INVESTORS TO STEEL, METALS SECTOR AS NIGERIA PARTICIPATES IN INTERNATIONAL MINING CONFERENCE IN AUSTRALIA ….says Nigeria Remains Prime Investment Destination in Africa As the Federal Government moves to attain a vibrant steel and metals sector, the Honourable Minister for Steel Development, Prince Shuaibu Abubakar Audu, has called on global players in the sector to choose Nigeria as a prime investment destination in Africa. Prince Audu made the call while speaking at the ongoing International Mining and Resources Conference (IMARC) holding in Sydney, Australia, from October 29 to October 31, 2024, highlighting the huge benefits of investing in Nigeria under the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR. The Honourable Minister, who led a team from the Ministry of Steel Development, which included the Permanent Secretary, Dr. Chris. Osa Isokpunwu and other directors to the conference, is also meeting with top officials of the Australian government and chief executives of industry players on the sidelines to source funding for Nigeria’s Steel and Metals Sector. Delivering a presentation themed “The Nigerian Metallurgical Industry: An Unfolding Frontier of Global Investment Haven," Prince Audu stated that this was the first time in the country’s history that the government has established a ministry with a sole focus on the steel industry, noting that in August 2023, President Bola Ahmed Tinubu GCFR established the Ministry of Steel Development to serve as a catalyst to fast-track Nigeria’s industrialisation process and significantly contribute to the Gross Domestic Product (GDP) of the country for sustainable economic growth. The Honourable Minister stated that since the creation of the Ministry in just one year, a lot has been achieved in the sector, and most importantly, creating an enabling environment with incentives for foreign investments to thrive in the country. Highlighting why Nigeria is the key destination for steel investment, Prince Audu stated that lying underneath the nation’s soil are vast raw material reserves: Iron Ore, Dolomite, Coal, Limestone, Manganese, Nickel, and other resources, adding that Nigeria was strategically located in Africa, thus providing access to domestic and regional market place. “We are gathered here not only to discuss challenges and opportunities within our global marketplace but also to showcase the immense potential that Nigeria holds as a prime destination for investment. As one of Africa's largest economies, Nigeria is rich in natural resources and possesses a youthful, dynamic population eager for innovation and growth. Our strategic geographic location serves as a gateway to the vast markets of both Africa and beyond. “The current administration of President Bola Ahmed Tinubu GCFR which is driving a Renewed Hope Agenda in the country has created an enabling business environment and undertaken bold reforms to engender industrial growth such as: Tax Holidays, Rural Location Incentives, Export Expansion Grants (EEG) Scheme, Gas Utilization Incentives, Investment Allowances, as well as put in place zero-duty on imported mining and steel spare parts machines. “Investing in Nigeria is not just a possibility but a strategic choice that presents lucrative opportunities for investors and stakeholders alike. From our robust resources and advancing infrastructure to our commitment to sustainable development and technology adoption, Nigeria stands ready to be your partner in success. “Let us embark on this journey together as we explore the vast potential that lies within our earth and tap into the remarkable opportunities that awaits you in Nigeria,” Minister Audu stated. The International Mining and Resources Conference (IMARC) is Australia’s largest mining event, connecting global mining and steel sector leaders.

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Oct
18
2024

STEELS DEVELOPMENT: Minister Receives President of Chinese Company, Inner Galaxy Steel Group and Chief Executive, Stanbic IBTC Bank PLC ..as Steel Company Commits $300 million to New Steel Plant in Nigeria The Honourable Minister of Steel Development, Prince Audu has received a delegation of Chinese Company, Inner Galaxy Steel Company Limited who has committed to investing about $300 million to set up a new Steel Plant for the production of specialised steel products in Ogun State, Nigeria. This is as the country moves towards diversifying its economy under the Renewed Hope Agenda of the present administration. Prince Audu while receiving the delegation in the company of the Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu, with other Directors, alongside the Chief Executive Officer of Stanbic IBTC Bank PLC, Mr. Wole Adeniyi and his team on Wednesday, October 16, 2024, in the Ministry's Headquarters in Abuja, described the move as a welcomed development, stating it shows the Group's confidence in the leadership of President Bola Ahmed Tinubu to turn the fortune of the nation around through the Steel Sector. The Honourable Minister assured them of the Federal Government's support in creating an enabling environment and providing other fiscal incentives for their sustainable operation in Nigeria, adding that the Ministry will review the proposal of the Company as well as involve relevant Government authorities for concessionary benefits within the current operational framework so as to facilitate the proposed foreign direct investment. In his remarks, the Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu lauded the new investment interest of the Chinese Company, noting that the Honourable Minister is keen on driving the steel revival efforts of Mr. President. Dr. Isokpunwu, reiterating the trust in the expertise of the Chinese, stated that he expects Inner Galaxy Group to follow through with their promises by investing in local manufacturing and not becoming a transit point for steel importation. Earlier, President of the Inner Galaxy Group Mr. Li stated that the Group, which has been in operation in Nigeria for over twenty years with current investments in Steel production in excess of $1 billion is seeking the cooperation of the Ministry to facilitate a further investment of $300 million for the establishment of a new Steel Plant in Nigeria for the production of specialised steel products like plates, angles, beams, and stainless products amongst others. Mr. Li noted that the investment is expected to increase the steel production output of the country, reduce Nigeria’s reliance on imported specialised steel products and conserve scarce foreign exchange with attendant employment generation opportunities—both direct and indirect employment estimated at about 10,000 with other multiplier effects in the economy. Also, Mr. Wale Adeniyi, CEO of Stanbic IBTC Bank, while speaking, assured the Ministry of the Bank's readiness to support the numerous initiatives of the Ministry, especially the proposed Industrial Park with a Free-Trade Zone and CNG Park at Ajaokuta Steel Territory.

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Oct
02
2024

MINISTER OF STEEL DEVELOPMENT LAUDS PRESIDENT TINUBU’S CNG INITIATIVE AS PRESIDENTIAL PROGRAM HANDOVER CNG VEHICLES, LAUNCHES CONVERSION INCENTIVE PROGRAM TO TRANSPORTERS IN KOGI STATE ...says Ajaokuta to become one of Nigeria’s CNG hubs The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has lauded the Compressed Natural Gas (CNG) Initiative of President Bola Ahmed Tinubu GCFR, as the Presidential CNG Initiative (P-CNGI) launched its pilot Conversion Incentive Program and the handover of CNG buses to transporters in Kogi State. Prince Audu, in his address at the inaugural launch of the CNG initiative program on Wednesday, 02 October 2024 in Lokoja, Kogi State, told Kogites that the “Renewed Hope Agenda” of President Tinubu has been brought to their doorstep, noting that the CNG initiative of Mr. President seeks to reduce the cost of transportation by over 40 percent to cushion the impact of the removal of fuel subsidy. The Honourable Minister also noted that plans are underway to make Ajaokuta one of the CNG hubs of Nigeria, as the Ministry is on the verge of presenting a proposal to Mr. President for the establishment of an Indutrial Park within the Ajaokuta environ, which will also host a CNG park and a Free Trade Zone.  “Mr President said at his Independence Day speech that because Nigeria spends over $10billion annually on fuel subsidy, Nigeria was on the brink of an economic collapse, and therefore he needed to do something very quickly, which was why petroleum subsidy was removed. There are some challenges that have come with that, which is the high cost of food prices, and Mr. President has told all of us that he is doing something to reverse that trend to ensure that prices of food come down quickly, one of which is the provision of CNG Venices to Nigerians.  “Mr. President has mandated that we should have one million CNG vehicles and/or conversions, and it needs to in place before the end of 2025. So, one million vehicles will be converted from petrol to gas in the next year, and this is very significant.  “As the Minister of Steel Development, I want to tell you some of the benefits of this CNG conversion site and the critical role Ajaokuta plays in that light. Ajaokuta is a gas hub for Nigeria. There are gas lines passing from Warri all the way to Ajaokuta, from Ajaokuta to Kaduna and Kano (AKK Pipeline), meaning that there are billions of cubic feet of gas that are being transported from Ajaokuta to other parts of Nigeria annually.  “We are taking a proposal to Mr. President to declare Ajaokuta an Industrial park that will also have a CNG park which will be one of the CNG hubs in Nigeria. And instead of having situations where most of the CNG conversion centres and CNG parks are outside of Kogi State, Ajaokuta has the land, Ajaokuta has the gas, and Ajaokuta has the facility for conversion kit production. The Industrial park will attract steel companies to Ajaokuta. So, anything that we need is within our environs. And most importantly, that will create thousands of jobs for Kogites and Nigerians as a whole.  “So, the Renewed Hope Agenda of President Bola Ahmed Tinubu is here and will turn around the economy, therefore, the desire of Mr. President to grow the economy by $1 trillion by 2030, and we will achieve that by the special grace of God,” Prince Audu stated. Kogi State Governor, Alhaji Ahmed Usman Ododo said that the CNG initiative is a significant milestone in the “Renewed Hope” Agenda of President Bola Ahmed Tinubu, thanking the President for the initiative, which aims to reduce reliance on petrol, which would in turn alleviate the sufferings of the people. Gov. Ododo, who was represented by the Deputy Governor, Elder Joel Salifu Ododo, pledged the commitment of the state to the project, with a promise to train 250 youths in CNG conversion and empower them to enable them to key into global technologies. The Program Director/Chief Executive of the P-CNGI, Engr. Michael Oluwagbemi, said that the P-CNGI chose Kogi for its inaugural launch because the state beyond being a confluence state of water bodies is also significant in the transportation system as a link between the north and other parts of the country, and also hosts an important gas hub.  He said that the event was not designed just to reduce transportation fares for commercial drivers or fulfil Mr. President’s promise to ensure that transporters get their vehicles and tricycles converted for free, but also an opportunity for Nigerians to benefit from the abundant resources of the country, urging everyone to key into the transformative initiative of Mr. President.

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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”

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

 


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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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