Nigeria Signs $400m Deal with Chinese Firm to Revive Steel Industry, Create 22,000 Jobs

The Nigerian Federal Government has inked a $400 million strategic cooperation agreement with Stellar Steel Company Limited, a subsidiary of China's Inner Galaxy Group, to establish an integrated steel plant in Ewekoro, Ogun State. This deal marks a significant milestone in efforts to revitalize Nigeria's steel sector, with expectations of creating 22,000 jobs and reducing the country's dependence on steel imports.

The project aligns with the government's goal of achieving a $1 trillion economy by 2030 and emphasizes clean, green production technologies.