By Ifeoluwa Odunayo
The Federal Government is taking bold steps to produce military hardware locally through a strategic partnership between the Ministry of Steel Development, the Ministry of Defence, and the Defence Industries Corporation of Nigeria.
Minister of Steel Development Shuaibu Abubakar Audu announced the plan during a visit to the National Steel Raw Materials Exploration Agency in Kaduna.
He revealed that a draft Memorandum of Understanding is in place and awaits presidential approval.
The initiative aligns with President Bola Tinubu’s vision to revive the Ajaokuta Steel Company and establish a military industrial complex.
Audu highlighted that Nigeria spends around four billion dollars annually on steel imports and stressed the importance of local production to ease pressure on foreign exchange.
He also disclosed that foreign investments are pouring into the sector, including a three hundred million dollar steel plant by a Chinese company, Galaxy, in Ogun State.
With a strategic roadmap in place, Nigeria aims to produce ten million metric tonnes of steel annually within five years, positioning the country for economic growth and self-sufficiency in steel production.
