Tinubu’s Economic Agenda Draws Over $500M in Steel Sector Investments – Minister Reveals Ahead of National Summit

Tinubu’s Economic Agenda Draws Over $500M in Steel Sector Investments
 – Minister Reveals Ahead of National Summit

Nigeria’s steel industry has attracted more than $500 million in foreign direct investment over the past 20 months, thanks to President Bola Tinubu’s Renewed Hope Agenda, according to the Minister of Steel Development, Prince Shuaibu Abubakar Audu.

Speaking at a press conference ahead of the upcoming National Steel Summit 2025, scheduled for July 16–17 in Abuja, Audu said the administration’s policies have boosted investor confidence and revitalized interest in the sector.

 Themed “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness,” the summit aims to foster unity among stakeholders to reposition Nigeria as a key player in global steel production.

The minister pointed to a major $400 million investment by Stellar Steel Company Limited, under the Innergalaxy Group, which is constructing a facility to produce hot rolled steel coils and plates.