Nigeria Mining Week: Minister of Steel Development, Prince Shuaibu Abubakar Audu, Pledges Stronger Collaboration with Solid Minerals Ministry to Accelerate Nigeria’s Industrial Growth
The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has pledged stronger collaboration between the Ministry of Steel Development and the Ministry of Solid Minerals Development to accelerate Nigeria’s industrial growth and unlock the full potential of the nation’s mining and steel sectors.
Prince Audu made the pledge while delivering his Ministerial Address at the 10th Edition of the Nigeria Mining Week, held on Tuesday, October 14, 2025, in Abuja, with the theme “Nigeria Mining: From Progress to Global Relevance.” He commended the Honourable Minister of Solid Minerals Development, Dr. Dele Alake, for the bold reforms undertaken in the sector, which have strengthened transparency, improved oversight, and contributed to the nation’s GDP growth.
The Minister outlined the progress made by the Ministry of Steel Development over the past two years, noting that the Ministry is targeting the production of 10 million tonnes of liquid steel by 2030 and the creation of over 500,000 direct and indirect jobs to drive self-reliance and industrialisation. He explained that achieving this goal will require more than 40 million tonnes of locally sourced raw materials annually, including iron ore, limestone, dolomite, and coal, adding that “the time to act is now.”
“The expected synergy among stakeholders is crucial if we must overcome the challenges facing the minerals industry and drive the realisation of President Bola Ahmed Tinubu’s target of growing Nigeria’s GDP to $1 trillion by 2030,” the Minister stated.
“The potentials of this sector are vast — supported by our market size, abundant raw materials, infrastructure development, housing and energy demands, the African Continental Free Trade Agreement, and various Federal Government incentives,” he added.
Declaring the event open, President Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation (SGF), Sen. George Akume, commended Dr. Dele Alake for his leadership and commitment to repositioning the solid minerals sector as a key pillar of Nigeria’s economic diversification agenda.
President Tinubu said that the Federal Government has earmarked an additional ₦1 trillion for solid minerals development in the 2025 Budget, to support geo-scientific exploration, geological surveys, and the development of critical infrastructure needed to unlock opportunities within the sector.
In his remarks, Dr. Dele Alake disclosed that the solid minerals sector has experienced significant growth under the present administration. He revealed that in 2024, the sector generated ₦38 billion in revenue, up from ₦6 billion in the previous year — a six-fold increase achieved through bold reforms, policy consistency, and improved institutional oversight.
As part of the event, a Steel Forum, organised as part of the Nigeria Mining Week, is scheduled to hold on the sidelines on Wednesday, October 15, 2025, at the Abuja Continental Hotel, where key stakeholders will deliberate further on investment opportunities, policy alignment, and strategies to reposition Nigeria’s steel industry for sustainable growth.
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