In a landmark move poised to accelerate Nigeria’s industrial growth, the Inner Galaxy Group has unveiled plans for a $400 million investment in the development of the Stellar Steel Plant, a state-of-the-art steel production facility in Sagamu, Ogun State. Spanning more than 100 hectares, the plant is expected to become a major game-changer in the nation’s steel manufacturing ecosystem.
The Stellar Steel Plant, when completed in April 2026, will produce hot-rolled coil steel, a key raw material for industries such as construction, automotive manufacturing, and heavy-duty engineering. The facility will also contribute significantly to backward integration by reducing Nigeria’s reliance on steel imports and strengthening the local supply chain.
Announcing the project, a spokesperson for Inner Galaxy Group described the investment as a bold commitment to Nigeria’s industrial transformation. “This facility will not only produce essential steel components but also create thousands of jobs, enhance technical skill transfer, and position Nigeria as a competitive player in Africa’s steel market,” the spokesperson said.
The federal and Ogun State governments have both welcomed the development, with top officials describing it as a milestone aligned with President Bola Tinubu’s economic diversification and infrastructure-driven growth agenda. The project is expected to attract ancillary industries and increase Nigeria’s industrial GDP contribution in the years ahead.
Economic analysts have hailed the plant’s potential to stimulate local economies and drive foreign direct investment. The project’s location in Sagamu already a fast-growing industrial hub offers logistical advantages due to its proximity to Lagos and the major highway networks linking southern and northern Nigeria.
With construction already underway and operational timelines clearly set, the Stellar Steel Plant is set to become a flagship of Nigeria’s industrial renaissance. The project reflects growing investor confidence in the country’s policy environment, infrastructure potential, and market capacity.
