Nigeria's heavy reliance on steel imports, costing the nation approximately $3.3 billion annually, highlights a significant economic challenge and an opportunity for industrial advancement. Despite possessing the 12th largest steel deposits globally, with over three billion tonnes across states like Kogi, Enugu, Zamfara, and Kaduna, the country has yet to harness this potential fully. The situation is further exacerbated by inefficiencies and alleged corruption within key steel companies such as Ajaokuta Steel Company Limited and the National Iron Ore Mining Company (NIOMCO)​​​​.

In a promising development, efforts are underway to reverse this trend and foster domestic steel production. A notable initiative is the establishment of a fully integrated mining and steel processing plant by African Natural

Resources and Mines Limited, a subsidiary of the African Industries Group, in Gujeni village, Kaduna. This plant, with a mining capacity exceeding five million tonnes per annum, is poised to enhance Nigeria's standing in the global steel market, promoting economic growth and job creation. This strategic move is expected not only to reduce dependency on imports but also to position Nigeria as a significant player in the international steel industry​​.

The focus on steel production aligns with broader efforts to revitalize Nigeria's mining and steel sectors, as evidenced by recent agreements aimed at resolving long-standing disputes and unlocking the potential of key assets like the Ajaokuta Steel Company.