The Minister of Steel Development, Shuaibu Abubakar Audu, has urged European Union investors to deepen economic partnerships with Nigeria to accelerate growth in the country’s steel and minerals sector.
Audu made the call while delivering a keynote address at the Nigeria–German Economic Forum in Dortmund, Germany.
According to a statement by the Ministry’s Director of Information and Public Relations, Salamatu Jibaniya, the Minister outlined Nigeria’s strategic plan to transition from a raw materials exporter into a value-adding industrial economy, in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda. He emphasized that Nigeria’s population of nearly 250 million people and its youthful workforce position the country as a hub for African trade and industrial expansion.
Highlighting Nigeria’s mineral wealth, Audu noted that the country holds more than three billion tonnes of iron ore deposits alongside reserves of limestone, manganese, copper, lead-zinc, lithium, and rare-earth minerals. He disclosed that Nigeria records an estimated $10 billion annual steel utilisation demand, describing the sector as a major investment opportunity for international partners.
The Minister invited credible investors to participate in steel and aluminium production, mineral beneficiation and processing, as well as industrial infrastructure development covering power, rail, gas, and port facilities. He also stressed the importance of technology transfer and technical skills development to strengthen local capacity.
During the forum, Audu met with Nathanael Liminski, Minister for Federal, International and European Affairs of North Rhine-Westphalia; Alexander Kalouti, Lord Mayor of Dortmund; Heinz-Herbert Dustmann, President of the Dortmund Chamber of Commerce and Industry; and Klaus Wagener, Consul General to Slovakia.
The Steel Minister reaffirmed Nigeria’s commitment to building long-term partnerships that will boost industrial growth, job creation, and sustainable economic development.
By Palma Ileye, Abuja
