The Federal Government is stepping up efforts to attract German investment and technology into Nigeria’s steel and metallurgical industries as part of a broader push to strengthen local manufacturing and reduce dependence on imported industrial equipment.
The Minister of Steel Development, Prince Shuaibu Audu, disclosed this during a meeting with a delegation of German Original Equipment Manufacturers led by the Head of VDMA-German OEMs, Chux Onaa, in Abuja.
According to the ministry, discussions focused on possible partnerships in steel production, mineral processing, equipment manufacturing, engineering services, technology transfer and skills development. The engagement is expected to build on earlier discussions between Nigeria and Germany at the 9th German-African Economic Forum in Dortmund.
Audu said Nigeria has significant mineral and metallurgical resources and a large domestic market that could support greater industrial activity. He also expressed the government’s interest in having German manufacturers participate in ongoing and emerging projects within Nigeria’s steel sector.
The minister said collaboration with German companies could help Nigeria develop local industrial value chains and reduce its reliance on imported machinery and technology.
The German delegation also indicated that its companies possess technologies that could support the processing of Nigeria’s raw materials for industries such as cement and building materials.
The Federal Government has been seeking to revive Nigeria’s long-standing steel ambitions as part of efforts to expand manufacturing, create jobs, increase local processing of mineral resources and diversify the economy beyond crude oil.
The latest engagement does not yet represent a completed investment deal; rather, it is focused on developing potential areas of cooperation between Nigerian authorities and German industrial companies.
