Tinubu Sets 2030 Target For Nigeria To Become Africa’s Steel Giant

President Bola Tinubu has declared that Nigeria will emerge as a steel powerhouse by 2030, aiming for an annual production of 10 million tonnes of liquid steel.

Speaking in Abuja on Wednesday, August 13, at the inaugural stakeholders’ summit on steel sector development, Tinubu—represented by Vice-President Kashim Shettima—reaffirmed his administration’s resolve to make steel the backbone of Nigeria’s industrial growth and economic diversification.

He noted that the creation of the Ministry of Steel Development in 2023 was a clear signal of his government’s commitment to harnessing the nation’s mineral wealth. A major focus is the revival of the long-dormant Ajaokuta Steel Company.

> “We are not here to mourn missed opportunities. We are here to make the future,” Tinubu said, announcing a memorandum of understanding with Tyazhpromexport (TPE) and its partners to rehabilitate and operate Ajaokuta and the National Iron Ore Mining Company in Itakpe.

Proposals from Chinese companies and other investors are also being reviewed, while a technical and financial audit of Ajaokuta is underway to guide investor selection.

Beyond steel, Tinubu unveiled complementary projects:

* Five mini-LNG plants worth over \$500 million, in partnership with NNPC Limited and the private sector.

* An agreement with the Ministry of Defence to produce military hardware at Ajaokuta’s engineering workshop.

* Plans for an industrial park, free trade zone, and military-industrial complex in the steel city.

In the aluminium sector, a \$465 million investment proposal is on the table to revive the Aluminium Smelter Company of Nigeria in Ikot-Abasi. The Delta Steel Company—now Premium Steel and Mines—has committed to restarting operations within 18 months. Meanwhile, Stellar Steel, part of the Inner Galaxy Group, is investing \$400 million to build a new hot-rolled coil and plate plant in Ewekoro, Ogun State.

Tinubu’s steel sector roadmap targets operationalising Ajaokuta within three years, creating over 500,000 jobs, boosting infrastructure, reforming regulations, and building local capacity. He urged the private sector to join hands with the government, stressing that the scale of transformation ahead is too vast for the public sector to tackle alone.