The federal government says the newly commissioned Orbit Galvanizing Steel Plant in Ikorodu, Lagos, will save Nigeria billions of naira in foreign exchange and generate hundreds of local jobs.
Minister of Steel Development Shuaibu Abubakar Audu stated this during the official commissioning of the state-of-the-art galvanising facility, a project of the African Industries Group (AIG).
“With this plant, Nigeria will now produce more galvanised steel locally, cutting down our overreliance on imports. This is a major breakthrough for our steel industry,” the Minister said.
According to him, the project is a direct response to President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to grow the economy to $1 trillion by 2030 through strategic industrialisation and local content development.
“This facility will not only conserve our scarce foreign exchange but will also empower our citizens through job creation. Over 350 Nigerians have already been employed directly, and many more will benefit through the value chain,” he added.
The new plant has the capacity to produce 50,000 metric tonnes of galvanised steel structures annually—about 25 percent of Nigeria’s total tower fabrication demand. Products from the facility will be used in sectors like telecommunications, oil and gas, energy, and construction.
“What we are witnessing today is a strong statement of confidence in Nigeria’s potential,” Audu said. “This plant aligns perfectly with our vision to make Nigeria self-sufficient in steel production.”
He applauded the leadership of African Industries Group, Chairman Raj Gupta and Group Managing Director Alok Gupta, for their commitment to industrial development and backward integration.
“AIG has shown once again that it is a true partner in national development. This plant will help us reduce the over $4 billion spent annually on steel imports,” he noted.
Audu said the federal government is currently reviewing fiscal policies around raw material imports to ensure that local manufacturers receive better support than importers of finished steel products.
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“We are also working on a Metallurgical Industry Bill that will provide fiscal incentives for investors in this space,” he revealed. “But even before the bill is passed, we’re engaging the Ministry of Finance and other key agencies to fast-track these support systems.”
The commissioning attracted stakeholders from the federal and Lagos state governments, the private sector, and traditional rulers from the Ikorodu and Igana communities.
In his remarks, AIG Director Cooperate Affairs, Taiwo Okewo thanked the federal government for its support, assuring that the company remains committed to Nigeria’s economic growth through sustainable manufacturing.
The minister closed the ceremony by officially commissioning the Orbit Galvanising Steel Limited and Orbit Fabrication Works Limited, describing them as “symbols of hope, progress, and industrial rebirth for Nigeria.”