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A major breakthrough has been achieved in Nigeria’s steel industry with the signing of a financial and technical cooperation agreement between Chart & Capstone Integrated Ltd and China’s Sinomach-HE for the development of a $2.5 billion steel production plant in Nigeria. The plant, which will operate in Kogi and Delta states, aims to process Nigeria’s iron ore into finished steel products locally, reducing the country’s dependence on imports and supporting industrial growth.
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The agreement was signed on April 14 at Sinomach’s headquarters in Deyang, Sichuan Province, China, by Chairman/CEO of Chart & Capstone, Chief Immanuel Abel Edijala, and Chief of Sinomach-HE’s Chengdu Representative Office, Lou Xiangdong. The event was witnessed by the Director-General of the Nigeria-China Strategic Partnership, Joseph Tegbe, and Acting Consul General of Nigeria in Shanghai, Dr Ilesanmi Abiodun Bakare
According to the agreement, financial close and groundbreaking are projected for the fourth quarter of 2025, with equipment installation starting in early 2026. The partnership is expected to create thousands of jobs, drive infrastructure development, and promote long-term economic advancement in Nigeria, reflecting growing economic cooperation between Nigeria and China.
The project is a significant step towards boosting Nigeria’s steel industry and reducing its reliance on imported steel products. By processing iron ore locally, the plant will not only create jobs but also contribute to the country’s economic growth and development
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Jonathan Nwokpor
