Nigeria is positioning itself as Africa’s next industrial hub, with a focus on value addition and heavy industrialisation, Shuaibu Abubakar Audu announced while addressing the Nigeria–German Economic Forum in Dortmund, Germany.
Audu said Nigeria is ready to move beyond raw material exports, noting that its steel sector alone consumes about $10 billion annually, presenting a substantial market opportunity for serious global investors.
“With a population of nearly 250 million, largely youthful and energetic, Nigeria is primed for industrial take-off,” the minister stated. He highlighted that the country holds over three billion tonnes of iron ore, along with significant deposits of limestone, manganese, copper, lead-zinc, lithium, and rare-earth minerals, positioning Nigeria for both domestic industrial growth and export expansion.
Audu encouraged European investors to explore opportunities in steel and aluminium production, mineral beneficiation, and processing, as well as critical infrastructure development spanning power, rail, gas, and ports. He emphasized that Nigeria is prioritizing technology transfer and skills development to strengthen local capacity alongside capital inflows.
At the high-level forum, Audu was received by Germany’s Nathanael Liminski, Alexander Kalouti, Heinz-Herbert Dustmann, and Consul General to Slovakia Klaus Wagener.
