By Gabriel Ewepu, Abuja
The Minister of Steel Development, Prince Shuaibu Audu, has reached out to international donors for assistance and partnership. During a meeting on Tuesday at the Ministry’s headquarters in Abuja, he highlighted the pressing need for financial and technical support to overcome current funding gaps that hinder the development of Nigeria’s steel sector.
Audu engaged with representatives from the United Nations Industrial Development Organization (UNIDO), the United Nations Development Programme (UNDP), and the Australian High Commission to Nigeria, emphasizing the ministry’s commitment to initiatives aimed at bolstering small- and medium-sized enterprises (SMEs) within the metallurgy sector. He underscored the importance of ensuring that the benefits of industrial growth are equitably distributed across the economy.
Despite the bold capital budget for 2025, Audu acknowledged the financial challenges that come with transforming a capital-intensive industry like steel. He stated, “The transformation of our steel industry requires substantial financial resources; thus, we need financial and technical interventions from international donor agencies to realize our objectives.”
The meeting included heads of institutions, directors, and media representatives, who listened as Audu elaborated on the ministry’s mission: “Our Ministry has been entrusted with a mandate of immense national importance: to drive the advancement of Nigeria’s steel sector. This industry is the backbone of industrialization and urban development; it lays the foundation for robust infrastructure and serves as a catalyst for job creation and sustainable economic growth.”
Audu emphasized the revitalization of key publicly-owned steel assets, particularly Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO). The goal is to prepare these institutions for privatization by enhancing their infrastructure and operational capabilities, ultimately increasing domestic steel production, reducing import dependence, and generating foreign exchange.
In addition to infrastructure upgrades, the minister highlighted the importance of technical expertise and capacity development. The ministry plans to establish Metallurgical Scrap Collection Centres across Nigeria’s six geopolitical zones to promote recycling and ensure a sustainable supply of raw materials. Furthermore, Audu announced significant investments to upgrade the Metallurgical Training Institute in Onitsha, incorporating advanced training tools such as augmented reality and simulation equipment to equip the workforce for a modern industrial landscape.
“Your partnership can accelerate the modernization of our steel assets, build the required infrastructure, empower our workforce with the skills of tomorrow, and fortify the regulatory frameworks that will underpin our industry’s growth,” Audu urged.
He reiterated that the collaboration with international partners is essential for bridging the gap between Nigeria’s ambitious goals and the practical realities of implementation. The international donor agencies expressed their commitment to supporting the revitalization of the steel sector in line with current global standards, marking a significant step toward Nigeria’s industrial renaissance.
“Together, we can create a legacy of sustainable development, job creation, and industrial innovation that will resonate across generations,” Audu concluded, inviting further technical assistance, financial investment, and strategic guidance from international partners.
