Nigeria’s dependence on imported steel is becoming an increasingly expensive burden on the economy, with official trade data showing that the country spent more than ₦1 trillion on iron and steel imports in 2025. The figure highlights a long-standing contradiction in Nigeria’s industrial policy: while the country continues to spend heavily on imported steel products, […]
The newly established Ministry of Steel Development has allocated N2.6 billion for the mobilization of Ajaokuta Steel Company Limited as part of its N24 billion total budget for 2025. This funding was presented by President Bola Tinubu to the National Assembly in the proposed budget. In addition, the Ministry has set aside N250 million for […]
