The Federal Government has reaffirmed its determination to unlock the enormous potential of Nigeria’s steel resources as a catalyst for inclusive and sustainable national development.

The Minister of Steel Development, Prince Shuaibu Audu, restated the commitment in his New Year message to Nigerians on Thursday in Abuja.

Audu said the ministry remains committed to working in close collaboration with sub-national governments, the private sector, development partners and host communities to realise the long-term transformation of the steel sector.

“As we move into the New Year, our focus remains resolute.

“To strengthen institutional frameworks, accelerate the revitalisation of critical steel assets, promote local steel production, attract both domestic and foreign investments and enhance human capacity development across the sector.

“These efforts are central to our mandate of ensuring that the steel industry effectively supports infrastructure development, manufacturing, job creation, and national self-reliance.

“In realisation of the Renewed Hope Agenda of President Bola Tinubu, the ministry will continue to pursue policies and partnerships that foster transparency, efficiency, innovation, and sustainability,” he said.

The minister disclosed that despite challenges encountered in 2025, particularly the non-release of funds for the implementation of the 2025 budget, the ministry sustained its reform drive through the prudent execution of critical components of the 2024 Appropriation Act.

According to him, by prioritising strategic partnerships, investment facilitation and policy-driven interventions rather than direct budgetary spending, the ministry recorded notable achievements that underscored the resilience and ingenuity of its leadership.

Audu identified the successful hosting of the inaugural National Steel Summit 2025 as a major milestone during the year, noting that the event brought together stakeholders from across the country to chart a renewed course for the revival of the steel sector.

He also revealed that Nigeria had made significant progress in discussions with prospective investors in China to facilitate the long-awaited revival of the Ajaokuta Steel Plant.

The minister further stated that the ministry facilitated a $500 million investment by the Nigerian National Petroleum Company Limited and its partners for the establishment of five mini-Liquefied Natural Gas plants within the Ajaokuta Steel Territory.

He explained that the initiative would guarantee reliable power supply, lower production costs, promote cleaner energy utilisation and stimulate industrial growth, with a particular focus on Northern Nigeria.

Audu added that the ministry executed a Memorandum of Understanding with the Federal Ministry of Defence for the local production of military hardware and the establishment of a Military Industrial Complex within the Ajaokuta Steel Territory, in collaboration with the Defence Industries Corporation of Nigeria.

The minister said he approved the employment of over 200 pioneer steel-sector experts into the National Steel Council, Abuja, while more than 700 youths were empowered with critical technical skills.

“Looking ahead to 2026, the Ministry is focused on consolidating these gains and transitioning from policy reforms to measurable production outcomes.

“Expectations include accelerated implementation of signed investments, tangible progress at Ajaokuta, and phased production in the new steel plant.

“Deeper local content integration, and sustainable job creation, supported by stronger budgetary alignment and private sector participation,” he said.