Governor of Ogun State, Dapo Abiodun, announced, “major investment by Inner Galaxy Group, which is developing the $400 million Stellar Steel Plant in Sagamu.”
Abiodun said, the Steel Plant will cover “over 100 hectares and will produce hot-rolled coil steel” which is “a vital material for the construction, manufacturing, and automotive industries”.
The Governor disclosed, the project will be completed by April, 2026 and is “expected to reduce Nigeria’s $4 billion annual steel import bill, improve our foreign exchange reserves, and strengthen local manufacturing capacity.”
Governor Abiodun (X/@DapoAbiodunCON) wrote: “We are pleased to announce a major investment by Inner Galaxy Group, which is developing the $400 million Stellar Steel Plant in Sagamu. Covering over 100 hectares, this facility will produce hot-rolled coil steel, a vital material for the construction, manufacturing, and automotive industries. The project is set for completion by April 2026 and marks a significant milestone in our industrial development agenda.
“This transformative project is expected to reduce Nigeria’s $4 billion annual steel import bill, improve our foreign exchange reserves, and strengthen local manufacturing capacity. It will also create over 3,500 direct and indirect jobs, contributing meaningfully to our goals of economic diversification and job creation under the Renewed Hope Agenda. We recently hosted the leadership of Inner Galaxy Group at the Governor’s Office in Oke-Mosan, Abeokuta. The delegation was led by Mr. Li Chuang, Chairman of the Group, and Mr. Jackie Shan, Vice President, who shared their long-term vision for Nigeria. We used the opportunity to reaffirm our administration’s commitment to a business-friendly environment, supported by modern infrastructure, efficient transportation, reliable power, healthcare, and education.
“This project further cements Ogun State’s position as Nigeria’s leading industrial hub and aligns with our broader strategy for industrialization, internally generated revenue growth, and sustainable economic development. We are proud to support initiatives like this that contribute directly to President @officialABAT’s vision of building a $1 trillion economy by 2030 and remain committed to driving inclusive growth through strategic partnerships.”
Photo: X/@DapoAbiodunCON
