Minister of Steel Development, Prince Shuaibu Abubakar Audu, has called for deeper strategic economic partnerships between Nigeria and the European Union to accelerate the development of the country’s steel and minerals sector.
He stated this while speaking at the Nigeria–German Economic Forum in Dortmund, Germany.
The Minister outlined Nigeria’s policy direction toward building a value-driven industrial economy.
He said the Federal Government is repositioning the nation from a raw materials exporter to a value-adding manufacturing hub, in line with the Renewed Hope Agenda of President Bola Ahmed Tinubu.
Prince Audu stated that Nigeria’s large domestic market of nearly 250 million people, coupled with a youthful workforce and strategic location in Africa, presents significant opportunities for long-term investment.
He noted that the country records an estimated 10 billion dollars in annual steel demand, underscoring the urgent need to expand local production capacity and reduce import dependence.
The Minister highlighted Nigeria’s vast mineral resource base, including over three billion tonnes of iron ore, as well as commercially viable deposits of limestone, manganese, copper, lead-zinc, lithium and rare-earth minerals.
He explained that these resources provide a strong foundation for domestic industrialisation and structured export partnerships with European markets, particularly in the context of global energy transition needs.
According to him, the government is prioritising investment in steel and aluminium production, mineral beneficiation and processing, and critical industrial infrastructure such as power, rail, gas and port systems.
He stressed that technology transfer and technical skills development remain central to the policy framework to ensure sustainable sector growth.
Prince Audu was received at the forum by the Minister for Federal, International and European Affairs of North Rhine-Westphalia, Nathanael Liminski; the Lord Mayor of Dortmund, Alexander Kalouti; the President of the Dortmund Chamber of Commerce and Industry, Heinz-Herbert Dustmann; and the Consul General to Slovakia, Klaus Wagener.
The Nigeria–German Economic Forum provides a platform for strengthening bilateral economic cooperation, promoting investment flows and advancing industrial partnerships between both countries.
