In a landmark move that signifies a major investment in Nigeria’s steel industry, Inner Galaxy Steel, a Chinese company, has announced plans to invest $300 million in the construction of a state-of-the-art steel plant in Ogun State. This development aligns with President Tinubu’s Renewed Hope Agenda, which aims to diversify and strengthen the country’s economy.
The new plant is set to create job opportunities for local residents and contribute to the growth of the steel manufacturing sector in Nigeria. This investment underscores Inner Galaxy Steel’s confidence in the country’s potential for economic growth and development.
Inner Galaxy Steel is poised to play a key role in driving industrialization and increasing local production capacity in Nigeria. The company’s commitment to establishing a presence in Ogun State highlights the state’s attractiveness as a destination for foreign direct investment.