Mirian Gom 
ABUJA, Nigeria – Nigeria’s steel sector receives a major boost as the Nigerian National Petroleum Company commits a $500 million investment to industrial facilities within the Ajaokuta Steel Territory, signalling renewed momentum for long-delayed production.
Minister of Steel Development, Prince Shuaibu Audu, discloses the investment in his New Year message, describing 2026 as a turning point from policy formulation to measurable output. “Our focus in 2026 is clear: transitioning from reforms to production,” Audu says.
He reveals that the $500 million investment, facilitated by the ministry, supports five mini-Liquefied Natural Gas plants to provide stable power, cut production costs and stimulate industrial growth, particularly in northern Nigeria.
The minister confirms ongoing engagement with Chinese investors on the revival of the Ajaokuta Steel Plant, which has remained dormant for decades despite significant public investment.
Audu also announces a memorandum of understanding with the Ministry of Defence for local production of military hardware and the establishment of a Military Industrial Complex at Ajaokuta.
Reviewing 2025 achievements, he cites the National Steel Summit, the recruitment of over 200 sector experts into the National Steel Council, and skills training for more than 700 youths.
“These efforts position the steel industry as a driver of infrastructure, manufacturing and job creation,” Audu says.
He pledges sustained collaboration with state governments, private investors and host communities to unlock Nigeria’s steel potential for inclusive growth.
About the Author
Edino Chubiyo Cornelius 
Oluwafunbi Bello 
Hussaini Ibrahim