Tinubu: Nigeria to Produce 10 Million Tonnes of Liquid Steel by 2030, Create 500,000 Jobs
President Bola Tinubu has set an ambitious target to produce 10 million tonnes of liquid steel annually by 2030, a move he says will transform Nigeria into a self-reliant industrial powerhouse and create over 500,000 jobs.
Speaking at the inaugural National Stakeholders Summit on Steel Development in Abuja, Tinubu—represented by Vice President Kashim Shettima—described the steel industry as the “bedrock of industrialization” and a key driver for diversifying the economy away from oil.
“Despite our abundant iron ore, limestone, and coal, Nigeria still imports over 90% of its steel. The Ajaokuta Steel Company, once envisioned as our industrial crown jewel, now stands idle. This is not just an economic failure; it’s a threat to our sovereignty,” Tinubu said.
The president announced a 10-year roadmap to revive the steel sector, alongside a three-year plan to operationalize the long-abandoned Ajaokuta Steel Plant. The strategy includes infrastructure upgrades, regulatory reforms, capacity building, and incentives to attract private investment.
He stressed that the revival effort would be private sector-driven, supported by innovations from universities, skilled labour, and local patronage.
“The government cannot do it alone,” he added. “We need investors, researchers, and every Nigerian to support our steel industry’s rebirth.”
The administration hopes the plan will not only reduce steel imports but also position Nigeria as a competitive player in the global steel market.
