Shuaibu Abubakar Audu, Minister of Steel Development, has called for long-term European Union partnerships to accelerate Nigeria’s transition from a raw materials exporter to a value-adding industrial economy.
Audu made the call on Tuesday while delivering a keynote address at the Nigeria German Economic Forum in Dortmund, Germany, a statement by the ministry informed.
He said Nigeria is repositioning its steel and minerals sector to attract sustained foreign direct investment under the Renewed Hope Agenda of President Bola Ahmed Tinubu.
According to the minister, Nigeria’s population of nearly 250 million people, largely youthful, offers a strong labour base and consumer market that can support large-scale industrialisation.
He added that the country’s geographic position makes it a strategic hub for trade across Africa.
Audu disclosed that Nigeria records about 10 billion dollars in annual steel utilisation, a figure he said demonstrates strong domestic demand and clear market potential for investors.
He said the government is seeking credible partners in steel and aluminium production, mineral beneficiation and processing. He also listed industrial infrastructure such as power, rail, gas and ports as priority areas requiring investment support.
The minister stressed the need for technical skills development and technology transfer to deepen local capacity and improve competitiveness.
On resource endowment, Audu said Nigeria has over three billion tonnes of iron ore deposits. He added that the country also holds significant reserves of limestone, manganese, copper, lead, zinc, lithium and rare earth minerals, which can support both domestic industrial growth and exports to Europe.
He told participants that aligning Nigeria’s mineral resources with European industrial demand presents a mutually beneficial opportunity, particularly as Europe advances its energy transition and seeks diversified supply chains.
Audu assured investors of ongoing policy reforms aimed at improving transparency, regulatory certainty and ease of doing business within the solid minerals and steel ecosystem.
At the forum, the minister was received by Nathanael Liminski, Minister of Federal, International and European Affairs, North Rhine-Westphalia; Alexander Kalouti, lord mayor of Dortmund; Heinz Herbert Dustmann, President of the Dortmund Chamber of Commerce and Industry; and Klaus Wagener, Consul General to Slovakia.
The Nigeria German Economic Forum brought together policymakers, industry leaders and investors to explore trade expansion, industrial cooperation and sustainable investment opportunities between Nigeria and Germany.
The engagement forms part of Nigeria’s broader diplomatic and economic outreach to the European Union, aimed at repositioning the steel sector as a catalyst for industrial growth, job creation and export diversification

Ruth Tene, Assistant Editor, Agric/Solid Minerals/INEC Ruth Tene is an award-winning journalist with over 15 years experience in developmental reporting across several newsrooms, as a reporter, editor and other managerial roles. She holds a Postgraduate Diploma in Journalism from the University of Maiduguri among several other certifications She has attended several trainings and certifications both locally and internationally and has been recognized for her impactful work in humanitarian reporting, receiving the Gold Award for Humanitarian Services from the Amazing Grace Foundation. She is also a recipient of the Home Alliance Fellowship, reflecting her commitment to fostering a more humane, safer and more sustainable planet. An active member of professional journalism bodies, Ruth is affiliated with the Nigeria Union of Journalists (NUJ), the National Association of Women Journalists (NAWOJ), and the Agricultural Correspondents Association of Nigeria (ACAN), where she continues to advocate for excellence, ethical reporting, and development-focused journalism.

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