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Nigeria has intensified efforts to reposition its steel and minerals sector as a cornerstone of national industrialisation, with the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, calling for long-term European Union partnerships at the Nigeria–German Economic Forum in Dortmund.
Delivering a keynote address on Tuesday, the Minister outlined Nigeria’s strategic roadmap to transform from a raw materials exporter into a value-adding industrial economy, in alignment with the Renewed Hope Agenda of Bola Ahmed Tinubu.
“Nigeria is no longer content with exporting raw materials,” Audu declared. “We are building an industrial economy that adds value locally, creates jobs for our youthful population, and positions our country as a strategic hub for African and global trade.”
He noted that Nigeria’s population of nearly 250 million people — largely youthful and economically active — provides a strong labour base and consumer market that enhances the country’s attractiveness to investors.
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$10 Billion Domestic Steel Demand
The Minister revealed that Nigeria currently records approximately $10 billion in annual steel utilisation, underscoring what he described as a “vast and immediate market opportunity” for credible global investors.
“Our domestic demand alone justifies large-scale investment in steel and aluminium production,” he said. “We are seeking partners for mineral beneficiation, processing, and industrial infrastructure development — including power, rail, gas and port facilities.”
Audu emphasised that technical skills development and technology transfer would form a critical component of any partnership arrangement, ensuring that Nigerian workers are equipped to sustain long-term industrial growth.
Vast Mineral Resources
The Minister further disclosed that Nigeria holds more than three billion tonnes of iron ore deposits, alongside significant reserves of limestone, manganese, copper, lead-zinc, lithium and rare-earth minerals — resources essential for both traditional steel manufacturing and emerging energy-transition technologies.
He said these mineral assets position Nigeria not only to meet domestic industrial needs but also to serve European markets seeking diversified supply chains.
“Nigeria offers reliability, scale and strategic access to Africa’s largest market,” Audu stated. “We invite credible, long-term investors to join us in building a globally competitive steel and minerals value chain.”
High-Level Reception in Dortmund
The Nigerian delegation was received by senior German officials including the Minister for Federal, International and European Affairs, Mr. Nathanael Liminski; the Lord Mayor of Dortmund, Mr. Alexander Kalouti; the President of the Dortmund Chamber of Commerce and Industry, Mr. Heinz-Herbert Dustmann; and the Consul General to Slovakia, Mr. Klaus Wagener.
The Nigeria–German Economic Forum continues with bilateral meetings focused on trade expansion, industrial cooperation, and investment facilitation between both countries.
Industry analysts say Nigeria’s renewed push for value-added production signals a decisive shift in policy direction, as Africa’s largest economy seeks to leverage its mineral wealth to drive sustainable growth and industrial self-sufficiency.
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