According to local media reports, the Nigerian government has reached a significant milestone in cutting the country steel imports totaling $4 billion annually, with the groundbreaking of a new steel plant in Ogun state. The Stellar Steel Plant project is scheduled to start hot rolled coil production in April 2026.
Operated by the Nigerian steel producer Inner Galaxy Group, the new plant will cover over 100 hectares of land and create over 3,500 direct and indirect jobs in the state of Ogun. Although the production capacity is not specified, the plant is expected to significantly reduce the country’s import volume.
Participating in the groundbreaking ceremony, Shuaibu Audu, minister of steel development, stated that this new investment will reduce Nigeria’s reliance on foreign steel and will position Nigeria as a key player in the region and in the global steel market.
