A $400 million hot rolled coiled steel factory is set to commence operations in Ogun State, as the efforts of the present administration to attract foreign investors and expand Ogun State investment opportunities continue to yield tangible results.
The President of Inner Galaxy Group, Mr. Li Shuang, disclosed his company’s plan during a courtesy visit to the Governor's Office at Oke-Mosan, Abeokuta. He revealed that the factory, located in Ewekoro Local Government Area, would generate about 6,500 direct and indirect jobs, a massive boost to Ogun industrial growth and employment.
Mr. Shuang explained that the company, a multinational with vast investments across Asia, the Philippines, Malaysia, and African countries like Ghana and Angola, entered the Nigerian market in 2005 and has since focused on the production of iron rods for the building industry. The steel facility in Ogun is expected to begin operations by April 2026.
In his remarks, Governor Dapo Abiodun expressed delight in the anchor investment, describing it as a reflection of the State's strategic policies to invest in Ogun and transform it into the leading industrial hub in Nigeria and the West African sub-region.
"This is a $400 million investment. It aligns with the President's vision of growing our economy to a trillion-dollar level, and you are contributing your quota to that goal. We are particularly excited about the employment opportunities this will bring,” the Governor stated.
Governor Abiodun further highlighted the progress of his administration in attracting anchor investors, noting that several industries have been established in the past six years, including a multi-million-dollar diagnostic equipment facility scheduled for commissioning later in the week.
The Governor stressed that Ogun is richly endowed with both human and natural resources. He revealed that large deposits of alluvial gold and lithium, reportedly the highest quality in Nigeria, have been discovered in the State.
"We are number one in non-oil revenue generation in Nigeria. Two-thirds of our landmass sits on limestone, making us the leading cement producer in Sub-Saharan Africa, and third in the whole of Africa," he added.
He emphasized that the government has established a comprehensive ecosystem to support and sustain industrial development. Through strategic Ogun State infrastructure development, the State now offers improved access to roads, affordable housing, medical facilities, rail links, and educational institutions.
This forms part of the broader plan for Ogun economic development, ensuring that investors have all the necessary support to thrive. Governor Abiodun reassured the delegation of his administration’s commitment to working closely with genuine investors to provide long-term, sustainable growth.
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