Abuja, Nigeria — October 6, 2025
The Federal Government of Nigeria has officially signed a $400 million cooperation agreement with Stellar Steel Company Limited, a Chinese-backed industrial firm, to establish a large-scale steel manufacturing plant in Ewekoro, Ogun State.
The signing ceremony, held at the Ministry of Industry, Trade and Investment in Abuja, was attended by top government officials, representatives from the Chinese embassy, and executives from Stellar Steel.
According to the Minister of Industry, the new plant will play a pivotal role in boosting Nigeria’s industrial base, reducing dependence on imported steel, and creating over 5,000 direct jobs for Nigerians.
“This project marks a new chapter in Nigeria’s quest for self-sufficiency in steel production,” the minister said.
“It aligns with President Bola Tinubu’s Renewed Hope Agenda to industrialize Nigeria and strengthen local value chains.”
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About the Project
The Ewekoro plant is expected to cover 200 hectares of land and will feature state-of-the-art technology for producing construction-grade steel, iron rods, and other materials vital for infrastructure development.
Stellar Steel’s Managing Director, Mr. Liang Zhaoping, expressed optimism about Nigeria’s economic future, emphasizing the company’s long-term commitment to job creation, technology transfer, and sustainable operations.
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Economic Impact
Experts say the investment could significantly reduce Nigeria’s steel import bill, which currently stands at over $3 billion annually, and help stimulate growth across related sectors like construction, transport, and mining.
The project is set to begin construction in early 2026, with completion projected within three years.
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