Nigeria’s government has launched the US$400 million Stellar Steel Plant in Ogun State, a project by Inner Galaxy Group aimed at reducing the country's US$4 billion annual steel imports.

The government views the plant as crucial for advancing local steel manufacturing, diversifying the economy, and creating new jobs. Shuaibu Audu, the Minister of Steel Development, said the plant will help restart Nigeria's steel industry and establish it as a regional and global player.

The 100-hectare facility will produce hot-rolled coils for various construction and automotive sectors and is expected to be completed by April 2026.