FG Seeks German Investment, Technology For Nigeria’s Steel Industry

The Federal Government is seeking to attract German technology and investment into Nigeria’s steel industry, with emphasis on mineral processing, equipment manufacturing, technology transfer and the development of local industrial value chains.

 

The Minister of Steel Development, Shuaibu Audu, made this known on Thursday when he received a delegation of German Original Equipment Manufacturers, OEMs, led by the Head of VDMA-German OEMs, Chux Onaa, at the ministry’s headquarters in Abuja.

 

A statement issued by the ministry’s Head of Press and Public Relations, Ijomah Opia, on Friday said the engagement was aimed at turning previous discussions between Nigeria and Germany into concrete investment and industrial partnerships.

 

Audu recalled that both countries had explored opportunities in steel development, mining, mineral processing, engineering and technology transfer during engagements at the 9th German-African Economic Forum in Dortmund, Germany.

 

He said the visit by the German delegation demonstrated growing interest in Nigeria’s industrial sector and expressed the government’s readiness to partner with German companies to develop the steel and metallurgical industries.

 

“Nigeria possesses significant mineral and metallurgical raw material resources, alongside a large and growing market with substantial opportunities for industrial development,” Audu said.

 

He identified modern technology deployment, equipment manufacturing and supply, mineral processing, steel production, engineering services, capacity development and technology transfer as potential areas of collaboration.

 

“We are particularly interested in exploring opportunities for German Original Equipment Manufacturers to participate in ongoing and emerging projects within Nigeria’s steel and metallurgical sectors,” he added.

 

The minister said stronger collaboration with German manufacturers would help Nigeria develop local value chains and reduce dependence on imported equipment and technology.

 

He described the engagement as an important step towards establishing a high-technology industrial partnership between both countries, expressing optimism that the discussions would lead to specific investment and collaboration opportunities.

 

The Permanent Secretary of the ministry, Ambassador Nura Abba Rimi, said the engagement aligned with the Federal Government’s Renewed Hope Agenda, noting that President Bola Tinubu established the Ministry of Steel Development to accelerate the revitalisation of the sector.

 

Earlier, Onaa said the delegation was in Nigeria to consolidate existing discussions on investment and collaboration in the steel sector.

 

He said German OEMs possessed technologies capable of supporting the processing of raw materials for industries, including cement and building materials.