$400m Steel Factory to Create 6,500 Jobs in Ogun State
$400m Steel Factory to Create 6,500 Jobs in Ogun State
The President of Inner Galaxy Group, Mr. Li Shuang, has announced plans to establish a $400 million hot rolled coiled steel factory in Ewekoro Local Government Area of Ogun State. The factory is expected to create around 6,500 direct and indirect jobs and commence operations in April 2026.
Shuang made the disclosure during a meeting with Governor Dapo Abiodun at the Governor’s office in Abeokuta. He stated that Inner Galaxy Group, a multinational company with investments in Asia, the Philippines, Malaysia, and several African countries, entered the Nigerian market in 2005, producing iron rods for the building industry.
Governor Abiodun expressed delight in the investment, attributing its success to his administration’s efforts to make Ogun State a leading industrial hub in Nigeria and West Africa. He noted that the investment aligns with the President’s vision to grow the economy to $1 trillion.
The Governor highlighted the state’s abundant human and natural resources, including alluvial gold and high-quality lithium. He emphasized that Ogun State is the leading non-oil revenue earner in Nigeria, thanks to its vast limestone deposits, which make it a major cement producer in Sub-Saharan Africa.
Abiodun assured investors that his administration has put in place an integrated ecosystem of infrastructure, including roads, rail, air, affordable housing, medical facilities, and schools, to support investments in the state.
