Nigeria has intensified efforts to attract strategic partnerships that will accelerate the development of a globally competitive steel industry, using the fifth African Natural Resources and Energy Investment Summit (AFNIS 2026) as a platform to showcase the country’s industrial ambitions. Speaking during a panel session at the summit in Abuja, held under the theme “One Africa, One Resource Vision: Forging a Continental Alliance for Sustainable Development,” the Minister of Steel Development, Shuaibu Audu, called on investors, manufacturers, development partners, and industry leaders to collaborate in transforming Nigeria into a major steel producing nation.
The minister highlighted the country’s competitive advantages, including fiscal incentives such as tax holidays and exemptions on import duties for selected mining and steel equipment, noting that these measures are designed to attract long term investment into the sector. He stressed that Africa must move beyond exporting raw materials and instead focus on value addition, industrialisation, infrastructure development, and job creation through stronger regional collaboration.
Hosted by the Federal Government of Nigeria, AFNIS 2026 has brought together policymakers, investors, mining executives, financiers, and energy stakeholders from across the continent to explore opportunities for advancing Africa’s natural resources agenda. A key objective of this year’s summit is to strengthen cooperation across mining, energy, and industrial development while promoting policies that unlock investment and accelerate sustainable economic growth.
Nigeria’s renewed push for a world class steel industry reflects its broader strategy to diversify the economy and strengthen domestic manufacturing capacity. By leveraging partnerships and encouraging investment across the steel value chain, the government aims to position the sector as a cornerstone of industrial development, supporting economic resilience and contributing to Africa’s long term competitiveness in the global marketplace.
