General
Nigeria to Unfreeze $1.3bn Steel Investments With 10 million Tonnes by 2030
By Adedapo Adesanya
Nigeria has rolled out a blueprint to reposition its long-stalled steel industry as the backbone of the country’s industrialisation drive, with new investments exceeding $1.3 billion and a production target of 10 million tonnes of liquid steel by 2030.
Speaking in Abuja at the Inaugural Stakeholders Summit on the Development of the Steel Sector, the Vice President, Mr Kashim Shettima, said the Bola Tinubu-led administration is determined to turn decades of missed opportunities into “a future where Nigeria becomes a regional steel powerhouse.”
“For nearly fifty years, we have nurtured the dream of becoming a regional steel powerhouse. We are now ready to make that dream a reality. We are not here to mourn missed opportunities. We are here to make the future,” he said.
At the centre of the plan is the revival of legacy assets including the Ajaokuta Steel Company, the Aluminium Smelter Company of Nigeria, the National Iron Ore Mining Company, and Delta Steel Company (now Premium Steel and Mines).
Tinubu revealed that the government has signed a Memorandum of Understanding with Tyazhpromexport and its consortium to rehabilitate and operate both Ajaokuta and the Itakpe iron ore mines.
Other proposals from Chinese and international partners are under review, with a technical and financial audit of Ajaokuta already underway.
In a diversification push, the administration has launched the construction of five mini-LNG plants worth over $500 million in Ajaokuta, in partnership with the Nigerian National Petroleum Company (NNPC) Limited and private sector players.
The government is also concluding an agreement with the Ministry of Defence to produce military hardware at the Ajaokuta Engineering Workshop, and is developing an Industrial Park and Free Trade Zone in the area.
On aluminium, he disclosed that a $465 million investment proposal has been submitted to revive the Aluminium Smelter Company of Nigeria in Ikot-Abasi, with a six-year restoration plan under review.
He also revealed that private capital is also flowing into the country referencing Stellar Steel, part of the Inner Galaxy Group, investing $400 million in a new plant in Ewekoro, Ogun State, to produce hot-rolled coils and plates.
The President underscored the employment and industrial ripple effect of the initiative, “We aim to create over 500,000 direct and indirect jobs. We have already developed a ten-year roadmap for the sector. We have outlined a three-year plan for the operationalisation of Ajaokuta.”
He called on the private sector, academia, and skilled workers to partner with government in delivering the vision:
“Government can lead. But the private sector must invest. Academia must innovate. Skilled workers must emerge.”
Industry leaders at the summit, including the Ministers of Steel Development, Industry, Trade and Investment, Solid Minerals Development, and Transportation, all hailed the plan as a turning point, pledging regulatory reforms, streamlined approvals, and targeted incentives to attract investors.
If executed as planned, the strategy could place Nigeria at the heart of West Africa’s steel supply chain, drastically cut imports, and lay the foundation for broad-based industrial growth.
General
Dangote Cement Ibese Commissions Cassava Processing Plant in Ogun
By Aduragbemi Omiyale
In order to aid alternative and sustainable means of livelihood amid rising food prices and growing concerns over food security in Nigeria, the Ibese Plant of Dangote Cement Plc has handed over a state-of-the-art garri and fufu processing plant to the Kajola host community in Ewekoro Local Government Area of Ogun State.
The facility is expected to support cassava farmers and processors by improving efficiency and expanding income-generating opportunities.
According to the organisation, the project, delivered under the Community Development Agreement (CDA) with its host communities signed in 2022, is a strategic intervention aimed at boosting agricultural value addition, reducing post-harvest losses and strengthening livelihoods for rural farmers and women.
The Ibese Plant Director, Mr Ayyagari Subbaraidu, at the commissioning, said, “This project is aimed at improving cassava processing, reducing losses and creating sustainable employment for women and farmers in the community.”
He disclosed that the facility features separate garri and fufu processing units equipped with modern machinery, including a five-tonne-per-day peeling machine, hydraulic presses, frying systems, fermentation basins, solar-powered boreholes and sanitation infrastructure, adding that it will serve as a catalyst for local economic growth by enhancing productivity and supporting small-scale agribusinesses across Kajola and neighbouring communities.
The Plant Director also urged the community and the Project Governance Committee to maintain transparency in the management of the facility to ensure long-term sustainability.
The Ogun State Commissioner for Agriculture and Food Security, Mr Bolu Owotomo, who was at the unveiling of the project, said it aligns with Governor Dapo Abiodun’s vision of making agriculture a key driver of economic growth through value addition and enterprise development.
The Commissioner disclosed that “over 166,000 farmers, including more than 90,000 cassava farmers, have been registered under the Ogun State Farmers Information Management System (OGFIMS) to benefit from government interventions.”
He urged the community to safeguard the facility and assured residents of the continued support of the state government towards agricultural development and food security.
“This processing plant will strengthen the cassava value chain, improve product quality, create jobs and enhance food security while boosting farmers’ incomes,” the Commissioner stated.
General
FG Backs US Sanctions on Three BDC Operators Linked to Terror Financing
By Adedapo Adesanya
The federal government has hailed the recent sanctioning of three Nigerian bureau de change (BDC) operators by the United States’ Office of Foreign Assets Control (OFAC) for alleged terrorism financing.
“The Nigeria Sanctions Committee welcomes the recent inclusion of Mukthar Muhammad Adamu, Nine to Nine BDC, and Generation BDC Limited by the United States Office of Foreign Assets Control (OFAC).
“These designations follow the inclusion of Adamu and his companies as part of a broader update to the Nigeria Sanctions List approved and published on 18th June 2026,” it disclosed in a statement.
It said that the naming of the three companies and six people followed extensive intelligence gathering, financial investigations, and inter-agency assessments, which established reasonable grounds to believe that the affected individuals and entities facilitated, financed, supported, or otherwise contributed to the activities of the Islamic State West Africa Province (ISWAP) and associated terrorist networks.
“The individuals and entities added to the Nigeria Sanctions List on 18th June 2026 are Ibrahim Yakubu Ogirima (NLISWi.19), Muktar Muhammad Adamu (NLISWi.20), Adamu Chiroma (NLISWi.21), Ibrahim Abubakar (NLISWi.22), Abdullahi Umar Usman (NLISWi.23), Babangida Muhammed Adamu Hammajam (NLISWi.24), Abbal Bako & Sons Bureau De Change Limited (NLISWe.25), Generation Currency BDC Limited (NLISWe.26), Nine to Nine BDC Limited (NLISWe.27),” the statement read in part.
The federal government reiterated its directive to all financial institutions and designated non-financial businesses and professions to continue to comply with all sanctions obligations, including asset-freezing requirements, the filing of suspicious transaction reports, and the reporting of all relevant matches to the appropriate authorities.
The sanctions committee commended the work of the Federal Ministry of Justice, Office of the National Security Adviser (ONSA), Central Bank of Nigeria (CBN), Department of State Services, Economic and Financial Crimes Commission, and the Nigerian Financial Intelligence Unit for their actions to ensure that terrorist groups are denied the resources that sustain their activities.
It stated that Nigeria remains resolute in its commitment to ensuring that terrorists and their financiers find no safe haven within the country’s financial system.
The committee also said that the Federal Government would continue to work closely with domestic stakeholders and international partners to protect national security, strengthen financial integrity, and contribute to global efforts to combat terrorism and its financing.
General
Lagos Seals Radio Station, Others for Noise Pollution
By Aduragbemi Omiyale
A radio station, Wise FM, has been sealed by officials of the Lagos State Environmental Protection Agency (LASEPA).
The premises of the broadcast media platform, located on Ogabi Street, Meiran, Ile-Iwe Bus Stop, were shut by the state government on Tuesday, June 23, 2026, alongside other establishments across different parts of Lagos State for alleged persistent violations of environmental regulations despite repeated warnings, abatement notices, and opportunities provided for compliance.
In a statement by LASEPA, it was disclosed that the enforcement exercise was carried out in response to various environmental infractions, including noise pollution, air pollution, obstruction of official duties, and failure to comply with its directives.
As regards Wise FM, it was said that it was sealed for noise and air pollution as well as non-compliance with the Agency’s directives.
Another organisation affected, Star-View Terrace, located in Amuwo Odofin, Lagos, was shut down for noise pollution and non-compliance with the agency’s directives, while Premiership Suites, located at Akin Osiyemi Street, Off Allen Avenue, Ikeja, was sealed for non-compliance with the agency’s directives.
Speaking on the enforcement operation, the General Manager of LASEPA, Mr Babatunde Ajayi, reiterated the organisation’s unwavering commitment to safeguarding public health and ensuring a cleaner, safer, and more sustainable environment across Lagos State.
He stressed that both individuals and corporate organisations have a responsibility to comply with environmental laws and regulations, stressing that environmental protection remains a collective duty that requires the cooperation of all stakeholders.
The LASEPA boss warned that the agency would continue to intensify enforcement actions against violators in order to curb environmental nuisances and protect residents from the harmful effects of pollution.
Mr Ajayi urged residents, business owners, and operators of commercial establishments to adopt environmentally responsible practices and cooperate with regulatory authorities in promoting a healthier, cleaner, and more livable Lagos.
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