FG Targets 10 Million Tonnes of Liquid Steel Output by 2030 — Tinubu

• 500,000 New Jobs Projected

ABUJA — In a strategic move to revive Nigeria’s steel industry and position it as a globally competitive sector, President Bola Ahmed Tinubu has announced that the Federal Government aims to achieve a production capacity of 10 million tonnes of liquid steel by the year 2030.

President Tinubu made this known during his keynote address at the inaugural Two-Day National Stakeholders Summit on Steel Development held in Abuja. The event, which was themed “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness”, brought together key players from government, academia, and the private sector to discuss actionable strategies for industry revitalization.

Represented by Vice President Kashim Shettima, the President emphasized that the steel sector is the backbone of industrialization and plays a central role in Nigeria’s economic diversification away from oil dependence.

According to Tinubu, the future of the nation’s industrial capacity cannot rely on government efforts alone. He called for strong private sector investment, academic research and innovation, and active public patronage of locally produced steel.

Despite Nigeria’s rich deposits of iron ore, limestone, and coal, the country still imports more than 90% of the steel it consumes. The President described the state of the Ajaokuta Steel Company—once envisioned as Nigeria’s industrial crown jewel—as a “monument to abandoned ambition,” stressing that its dormancy is more than an economic concern; it poses a threat to national sovereignty.

In his words:

“My administration is determined to change the narrative. We will rethink, retool, and fully revitalize Nigeria’s steel sector. Our set target is to produce 10 million tonnes of liquid steel by 2030 and create over 500,000 jobs within the industry. This is part of our commitment to building a self-reliant and industrialized Nigeria.”

To ensure a structured and sustainable transformation, Tinubu disclosed that his administration has designed two key roadmaps:

1. A 10-year comprehensive plan for the overall revival of Nigeria’s steel sector.
2. A 3-year operational plan specifically for the resumption and full operationalization of the Ajaokuta Steel Plant.

These strategies, he explained, will focus on infrastructure upgrades, regulatory reforms, and skill development, all aimed at creating an enabling environment for sustainable steel industry growth.

Tinubu concluded by reinforcing that this revitalization effort requires collaborative action from private investors, academic institutions, skilled Nigerian workers, and the general public through the active use of locally produced steel.