The Minister of Steel Development, Prince Shuaibu Abubakar Audu, performed the groundbreaking ceremony for the Stellar Steel Plant in Shagamu, Ogun State, on Wednesday, April 23, 2025. The $400 million project, spearheaded by the Inner Galaxy Group, is set to play a pivotal role in Nigeria’s industrial growth.
Located on a 100-hectare site, the plant will primarily produce hot-rolled coils, which are crucial for various sectors, including construction, automotive, and manufacturing. The establishment of the facility is expected to significantly reduce Nigeria’s reliance on steel imports, which cost the country over $4 billion annually. By localizing production, the plant aims to conserve foreign exchange and bolster the nation’s industrial capacity.
The plant is projected to create over 3,500 direct and indirect jobs, contributing to Nigeria’s employment goals and enhancing economic diversification efforts. The project is slated for completion by April 2026, marking a major milestone in Nigeria’s industrial development.
During his speech, Minister Audu commended the Inner Galaxy Group for its commitment to supporting President Bola Tinubu’s Renewed Hope Agenda. He emphasized the strategic importance of steel to national development, especially in sectors such as infrastructure, energy, and defense. The establishment of the Stellar Steel Plant is seen as a vital step in revitalizing Nigeria’s steel industry and reducing dependence on foreign steel imports.
Minister Audu also visited indigenous defense equipment manufacturers, including Proforce Defence Solutions in Ode Remo and Epail Nigeria in Mowe. He reiterated the government’s plan to establish a military-industrial complex at the Ajaokuta Steel Complex to enhance local defense production capabilities.
The Stellar Steel Plant marks a significant move towards achieving self-sufficiency in steel production, aligning with Nigeria’s broader goals of industrialization, economic diversification, and national development
