Nigeria–German Economic Summit: Minister of Steel Development, Prince Shuaibu Abubakar Audu Advances Strategic Investment Talks in Germany
At the ongoing Nigeria–German Economic Summit in Dortmund, Germany, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, on Monday, March 2, 2026, has advanced Nigeria’s investment drive through high-level bilateral engagements with leading German industrial corporations, including with the management of Hüttenwerke Krupp Mannesmann (HKM) GmbH at its steel facility in Duisburg.
The engagement forms part of Nigeria’s broader strategy to attract Foreign Direct Investments (FDI) and reposition the steel and aluminium value chain as a key pillar of national economic growth, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu, GCFR.
During the visit, both parties held extensive discussions focused on attracting new investments into Nigeria’s steel sector; facilitating technology and knowledge transfer in modern steel production; promoting sustainable and environmentally responsible manufacturing practices; and strengthening capacity building and skills development for Nigerian professionals in the metallurgical industry.
Minister Audu reaffirmed the Federal Government’s commitment to creating an enabling environment for investors through policy reforms, strategic partnerships, and infrastructure development, noting that the revitalisation of the steel sector remains central to Nigeria’s industrialisation and economic diversification objectives.
“Nigeria is open to credible, long-term strategic partnerships that will unlock the full potential of our steel sector value chain. With abundant raw materials, a growing domestic market, and strong political will, this is the right time to invest in Nigeria,” the Minister said.
In his remarks, the Chief Technology Officer and Member of the Board of HKM GmbH, Dr. Peter Biele, commended the Minister’s visit and expressed the company’s interest in exploring mutually beneficial areas of cooperation with Nigeria, particularly in advancing efficient and sustainable steel production.
He noted that the engagement reflects the growing economic and industrial ties between Germany and Nigeria, and reaffirmed HKM’s commitment to fostering innovation, sustainability, and long-term industrial collaboration in Africa.
The meeting underscores Nigeria’s proactive economic diplomacy under the Honourable Minister, positioning the country as an emerging hub for industrial production and value-added manufacturing in Africa while strengthening investor confidence in the Federal Government’s reform-driven approach to revitalising the steel sector.
Close
