₦airaland Forum

The President of Inner Galaxy Group, Mr. Li Shuang, on Tuesday disclosed that his company was ready to set up a $400 million hot-rolled coiled steel factory in Ewekoro Local Government Area of Ogun State, with the capacity to employ about 6,500 direct and indirect workers.

Shuang made this known while leading a delegation of the organisation’s principal officials to the Governor’s office in Oke-Mosan, Abeokuta.

He said the company is expected to commence operations in April 2026. The organisation, a multinational company with vast investments in Asia, the Philippines, Malaysia, and some African countries like Ghana and Angola, entered the Nigerian market in 2005, producing iron rods for the building industry.

Meanwhile, Governor Dapo Abiodun, in his remarks, expressed delight in the huge investment. He ascribed the success to his administration’s deliberate move to make the state the leading industrial hub in Nigeria and the West African subregion.

“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that. We are excited that you will also be employing people.

“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week. This administration has managed to attract quite a lot of industries in the last six years,” Abiodun said.

The Governor noted that the state is blessed with abundant human and natural resources, adding that alluvial gold has been discovered in large quantities and that the state has the highest quality of lithium.

He continued, “I think it may interest you to know that we also have lithium in Ogun State; the lithium in Ogun State is meant to be the highest quality in Nigeria. So, it may be something you might also want to discuss.

“We are number one in non-oil revenue in Nigeria because two-thirds of the state sits on limestone. We have a lot of limestone here; we are actually number one in cement production in Sub-Saharan Africa, and we are number three in all of Africa,” the governor explained

Governor Abiodun explained that his administration had put in place an integrated ecosystem of infrastructure to support investments coming into the state, emphasising that required infrastructure like roads, rail, air, affordable housing accommodations, medical infrastructure, and schools have been made available in the state.

AnonPoet:
https://www.vanguardngr.com/2025/05/400m-steel-factory-set-to-commence-operation-in-ogun/

AnonPoet:
https://www.vanguardngr.com/2025/05/400m-steel-factory-set-to-commence-operation-in-ogun/

RightChannel:
Hope in the future they won't cease another presidential jets for breaching of contract!

Something good is coming out from Ogun State the SKULLARSHIP hub of African!

RightChannel:
Hope in the future they won't cease another presidential jets for breaching of contract!

Something good is coming out from Ogun State the SKULLARSHIP hub of African!

dalass:
I don't know why we lack the capacity to be able to process or produce steel by ourselves. We can't even mine some solid minerals ourselves

Meti99:
Has anybody heard from Dele Alake?
That guy should be sacked and banished from Nigeria

dalass:
I don't know why we lack the capacity to be able to process or produce steel by ourselves. We can't even mine some solid minerals ourselves

dalass:
I don't know why we lack the capacity to be able to process or produce steel by ourselves. We can't even mine some solid minerals ourselves

Osgilliat:
Knowing these things takes time, the technical know how is not easy but easier to say.
The Chinese lured US companies to their country with cheap labors. Years after the same Chinese is about to dethrone US in the manufacturing industry. They learnt US trade secrets.
If Nigeria can be patience, we can learn from Chinese too and someday we can stand on our own but for now, let’s just be like mumu, accommodate them and learn from them.

Meti99:
Has anybody heard from Dele Alake?
That guy should be sacked and banished from Nigeria

Zyrac:
when I saw Lu Shang abi na wetin I just Taya.
Shey democracy stops Nigerians from mining and refining even ancient minerals like these?