$450 Million Steel Company, Stellar Steel, Set to Begin Operations in Ogun by Mid-2026
A major boost is coming to Nigeria’s industrial sector as a $450 million steel-producing company, Stellar Steel Company Limited, is scheduled to begin operations in Ogun State by the middle of 2026.
Stellar Steel Company Limited is a subsidiary of the Galaxy Group and RSIN Group, both headquartered in Fuzhou, Fujian Province, China. The facility is expected to manufacture key products, including hot-rolled coil steel, iron steel doors, and gas cylinders, a move that is highly anticipated to significantly reduce Nigeria’s steel import bill.
The progress update was delivered by the Vice Chairman of RSIN Group, Mr. You Xiaotan, during a courtesy visit to Ogun State Governor, Prince Dapo Abiodun. Mr. Xiaotan confirmed that the project is on track: “The total investment for this project is $450 million, and we will finish the project and commence operations next year.”
He noted that the company has already completed all the leveling and foundation work, emphasizing that Stellar Steel is the largest investment for their group in Nigeria.
The Vice Chairman also disclosed that they are actively encouraging more companies from Fujian Province to invest in Ogun State, citing the state’s rapidly growing economy as the main attraction.
Governor Dapo Abiodun welcomed the update, stating that the investment validates his administration’s efforts to attract foreign capital. He highlighted that the state recently cemented a sister-state agreement with Shandong Province, which has created new opportunities for partnerships and investments.
The Governor pledged continued government support, promising to ensure investors have a seamless experience through streamlined approval processes and the efficient issuance of Certificates of Occupancy. “When the likes of you come here, it validates that we have done all that is needed to attract investors,” he said, adding that their presence translates directly to “prosperity for our people because you create jobs and increase our Gross Domestic Product.”
Governor Abiodun further assured the company of his administration’s willingness to facilitate any necessary waivers, tariffs, or reliefs through the Ministry of Industry, Trade and Investment to ease the final setup process.
The establishment of Stellar Steel Company Limited further solidifies Ogun State’s reputation as Nigeria’s leading destination for industrial and manufacturing investments.
