FG moves to revive steel industry, attract fresh investments

The federal government has intensified its efforts to revive Nigeria’s steel sector as part of a broader strategy to drive industrialisation, create jobs and attract investments.
Speaking at the 5th African Natural Resources and Energy Investment Summit (AFNIS 2026) in Abuja, Nigeria’s Minister of Steel Development, Prince Shuaibu Abubakar Audu, said the country was implementing key reforms aimed at repositioning the steel industry as a catalyst for economic growth.
Addressing participants on the theme, “One Africa, One Resource Vision”, Audu urged African nations to move beyond exporting raw materials and embrace local processing, manufacturing and value addition.
He described stee...