Minister of Steel Development, Prince Shuaibu Abubakar Audu, has sought the strategic partnership of European Union (EU) to advance Nigeria’s steel and minerals sector value chain and attract long-term foreign direct investment in line with the Renewed Hope Agenda of President Bola Tinubu.
Audu made the appeal when he delivered a keynote address at the ongoing Nigeria–German Economic Forum in Dortmund.
He stated that Nigeria was transitioning from a raw materials exporter to a value-adding industrial economy and was, therefore, seeking credible, long-term partners to support this transformation.
While highlighting that Nigeria’s strategic positioning, combined with a population of nearly 250 million people—characterised by a large and youthful workforce—positioned the country as a regional hub for African trade, Audusaid Nigeria possessed abundant reserves of steel inputs and energy-transition minerals.
He emphasised that Nigeria had strong domestic demand for steel, with approximately $10 billion in annual utilisation, underscoring the scale of market opportunity.
The minister stated that Nigeria was seeking credible partners in steel and aluminium production, and mineral beneficiation and processing, as well as industrial infrastructure development, including power, rail, gas and ports.
He also stressed the importance of technical skills development and technology transfer to strengthen the country’s workforce capacity.
The minister said Nigeria possessed significant deposits of iron ore—estimated at over three billion tonnes—as well as substantial reserves of limestone, manganese, copper, lead-zinc, lithium and rare-earth minerals.
He informed the gathering that the resources supported both domestic industrialisation and export opportunities to Europe.
Kasim Sumaina
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