By Anita Dennis
The federal government has unveiled an ambitious plan to produce 10 million tonnes of liquid steel annually by 2030, a move it says will transform Nigeria into a global player in the steel industry and generate over 500,000 jobs.
President Bola Tinubu, represented by Vice President Kashim Shettima, announced the target at the inaugural National Stakeholders Summit on Steel Development in Abuja. The two-day summit themed: ‘Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness’, brought together industry leaders, policymakers, and academics to map out strategies for revitalizing the sector.
Describing steel as the backbone of industrialization and a key driver for economic diversification, President Tinubu lamented that despite Nigeria’s vast reserves of iron ore, limestone, and coal, the country still imports over 90 percent of its steel needs. At the center of this shortfall is the idle Ajaokuta Steel Company, once envisioned as the crown jewel of Nigeria’s industrial ambition.
“This is not just an economic failure. It is a threat to our sovereignty,” President Tinubu declared. “My administration is changing the narrative. We will rethink, retool, and revitalize the steel sector.”
To achieve the 2030 target, the President outlined two roadmaps – a 10-year plan for the overall revival of the steel industry and a three-year plan specifically to operationalize the Ajaokuta plant. These plans, he said, will focus on infrastructure upgrades, regulatory reforms, and technical capacity building to create a competitive and self-reliant industry.
President Tinubu stressed that the effort would not be government-driven alone, calling for private sector investment, academic research, and public patronage to make the vision a reality. “We need the innovation of our universities, the skills of our workforce, and the patronage of our people,” he said.
For his administration, the target is about more than production volumes – it is about economic independence, industrial growth, and reviving a long-abandoned national dream.
