Nigeria's Steel Minister Engages German Firms for Investment

The Federal Government of Nigeria is intensifying efforts to attract German technology and investment into the country's steel industry, focusing on mineral processing, equipment manufacturing, technology transfer, and local industrial value chain development. Minister of Steel Development, Prince Shuaibu Audu, made this announcement during a meeting with a delegation from VDMA-German OEMs, led by Chux Onaa, at the ministry's headquarters in Abuja.

Audu highlighted the importance of converting prior discussions between Nigeria and Germany into tangible investment and industrial partnerships. He noted that both nations had previously explored opportunities in steel development and technology transfer at the 9th German-African Economic Forum in Dortmund earlier in the year.

The minister expressed Nigeria's potential in mineral resources and a growing market for industrial development. He identified key areas for collaboration, including technology deployment and capacity development, and emphasized the government's commitment to creating a competitive steel industry.

The Permanent Secretary, Ambassador Nura Abba Rimi, stated that this engagement aligns with the Federal Government's Renewed Hope Agenda.