By Awyetu Asabe Hope
The Federal
Government has stepped up efforts to reposition Nigeria as an industrial hub, with the Minister of Steel Development, Shuaibu Audu, urging German investors to partner in developing the country’s steel sector.
Speaking at the Nigeria–German Economic Forum in Dortmund, Audu said Nigeria is shifting from raw material exports to value-added industrial production, describing the sector as a “generational investment opportunity.
He said Nigeria’s annual steel demand is estimated at $10bn, stressing that the government aims to reduce imports by building local production capacity and positioning the country as a future net exporter.
Audu added that with a population of nearly 250 million people, abundant mineral resources — including over three billion tonnes of iron ore — and access to continental trade markets, Nigeria offers strong potential for industrial growth.
The minister said the government is seeking long-term investors across steel and aluminium production, mineral processing, and critical infrastructure such as power, rail, gas and ports, while prioritising technology transfer and skills development.
Nigeria’s renewed push aligns with the administration of Bola Ahmed Tinubu to strengthen industrialisation and attract foreign direct investment into priority sectors.
