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EXCLUSIVE: How Tinubu Was Upset With Governor Sanwo-Olu Over Illegal Land Allocations In Lagos Posh Neighbourhood, Banana Island

Sources say the dispute has triggered political manoeuvring and tense negotiations within the ruling All Progressives Congress (APC) in Lagos.  ArticlesRead More 

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    FG, Firm Signs $400m Deal To Boost Local Steel Production
    FG, Firm Signs $400m Deal To Boost Local Steel Production

    FG, Firm Signs $400m Deal To Boost Local Steel Production

    Kasim Sumaina in Abuja 

    The Federal Government, through the Ministry of Steel Development, has signed a $400 million Joint Strategic Cooperation Agreement with Stellar Steel Company Limited to boost local steel production and reduce Nigeria’s reliance on imported steel products.

    The Minister of Steel Development, Prince Shuaibu Abubakar Audu, had performed the groundbreaking ceremony of the Steel Plant in Ogun State in April 2025.

    Audu signed the agreement on behalf of the Federal Government during a courtesy visit by the management of Stellar Steel Company Limited, led by Mr Li, President of Inner Galaxy Group, at the ministry’s headquarters in Abuja.

    The minister, in a statement issued in Abuja, described the partnership as a major milestone towards revitalising Nigeria’s steel industry and achieving the Federal Government’s target of 10 million tonnes of crude steel production annually by 2030.

    He stated that the ministry will facilitate policy and infrastructure support, including inclusion of Stellar Steel’s logistics projects in the National Infrastructure Plan and access to available fiscal incentives.

    Highlights of the cooperation, Audu said, include: “Development of a localized iron ore supply chain to reduce import dependence and save over $1 billion in foreign exchange annually.

    “Creation of more than 2,000 direct and 20,000 indirect jobs across the steel value chain. Promotion of green steel production using clean and energy-efficient technologies. Strengthening of Nigeria’s position as a regional steel manufacturing hub in West Africa.”

    He also stated that in return, Stellar Steel will prioritise local recruitment and training, partnering with Nigerian universities to build technical and managerial expertise in steel production.

    Shuaibu emphasised that this strategic cooperation marks a new era for Nigeria’s steel industry and demonstrates the government’s commitment to sustainable industrial growth and economic transformation.

    In his remarks, the leader of the delegation, Mr. Li, assured the minister that Stellar Steel Company Limited will respect all agreements reached and will ensure the completion of the project in record time, and assured him that all safety standards will be observed.

    Li was accompanied during the visit by Mr. You Xiastian, Vice-Chairman of RSIN Group; Mr. Jackie Den, Vice-President of Inner Galaxy Group; and Mr. Yin, Director of RSIN Group.

    Speaking at the signing, representatives of both parties emphasised that the partnership would strengthen Nigeria’s industrial base, create jobs and foster technology transfer in the sector.

    Stellar Steel Company Limited is a steel-manufacturing enterprise established to operate in Nigeria, with major investment backing from two Chinese conglomerates — Galaxy Group and RSIN Group — both headquartered in Fuzhou, Fujian Province, China.

    In the agreement signed in Abuja on Tuesday, October 28, 2025, Stellar Steel will invest $400 million in the construction of a modern steel plant in Ewekoro, Ogun State.

    The project will be developed in three phases, with the first phase expected to commence production by mid-2026.

    ​  

    Kasim Sumaina in Abuja  The Federal Government, through the Ministry of Steel Development, has signed a $400 million Joint Strategic Cooperation Agreement with Stellar Steel Company Limited to boost local

    Continue reading
    TAFTA Empowers Young Women in Creative Industry with Skills to Build, Fund Sustainable Businesses
    TAFTA Empowers Young Women in Creative Industry with Skills to Build, Fund Sustainable Businesses

    TAFTA Empowers Young Women in Creative Industry with Skills to Build, Fund Sustainable Businesses

    Funmi Ogundare

    TAFTA Empowers Young Women in Creative Industry with Skills to Build, Fund Sustainable Businesses

    Funmi Ogundare

    Terra Academy for the Arts (TAFTA), Thursday, held a three-day empowerment programme for young women alumni in the creative sector.

    The initiative, organised under its Women Entrepreneurs Development Programme (WEDP), was aimed at equipping  participants with the knowledge, skills and confidence needed to grow and scale their creative enterprises.

    Speaking at the grand finale of the bootcamp in Lagos, TAFTA Academy Lead, Joseph Umoibom, stressed the need for the young women to take charge of their destinies and rise above life’s challenges.

    He urged them to embrace courage and determination in their entrepreneurial journeys.

    Umoibom emphasised that although life is filled with obstacles, every challenge presents an opportunity

    for growth and success.

    “Our destiny is in our hands, but sometimes we don’t know,” he said. “That’s why forums like this help to open our eyes.

    Problems and challenges will always come, but with each one we overcome, we become stronger and bolder.”

    Umoibom encouraged participants to adopt a positive mindset and not be deterred by difficulties, noting that resilience is key to achieving greatness.

    “If you are not coming out of one problem, you are going into another, it never ends. But each obstacle you overcome makes you better prepared for greater things,” he added.

    He commended Mrs. Bolanle Austen-Peters, founder of TAFTA, for establishing the programme to empower individuals, particularly women in the creative industry, to build successful businesses.

    The Sponsorship, Grants and Partnership Manager, Juliet Ibahiyi, urged young women entrepreneurs to actively seek out  partnerships and funding opportunities to grow their businesses, noting that many of them are unaware of the numerous  support platforms available to them.

    She emphasised how they could identify, approach and secure collaborations and funding from individuals and organisations.

    According to her, the initiative aims to bridge the knowledge gap and empower young women with the practical tools needed  to sustain and scale their enterprises.

    “Many businesswomen don’t know about the opportunities that exist for them,” she explained. “That’s why we put together  this session, to help them understand how to approach organisations or individuals for partnerships and how to apply for  funding. Our young women have the drive to succeed, but they need organisations like the academy for the heart to guide  and handhold them through the process.”

    Ibahiyi added that the support would continue beyond the event, with the organisers planning to share more funding  opportunities and provide ongoing mentorship to participants.

    Speaking with THISDAY, she emphasised the key steps discussed during the session, including identifying and researching  funding opportunities, crafting compelling proposals, and aligning applications with the goals and objectives of potential  partners or funders.

    “It’s not enough to say, ‘I want to partner,’” she noted. “You must be ready to do the work; research opportunities, identify  organisations seeking collaborations, and write a proposal that clearly aligns with their mission. You also need to set clear  timelines on how you intend to implement your project and follow up on every proposal you send.”

    Emphasising the relevance of technology, the sponsorship, grants and partnership manager said Artificial Intelligence (AI)  could be a valuable tool in preparing funding applications, but urged entrepreneurs to ensure that outputs reflect their  business vision.

    “AI can help, but you must review the content it generates. Make sure it aligns with your business goals and speaks directly  to your potential funders,” she stated  Ibahiyi encouraged young women in business to be bold, proactive and visible.

    “My advice is to always speak up,” she said. “Attend events, not just to be seen, but to connect. Let people hear your story,

    your dreams, and see that you’re taking steps towards your goals. Because when you keep moving, you’re sure to reach  your destination.”

    In his remarks, the Enterprise Development Manager, David Agboto, explained that the initiative was designed to bridge  the gap between unemployment and self-employment by helping participants move from informal business practices to  structured, sustainable enterprises.

    “Entrepreneurship is very essential, especially in Nigeria where the gap between employment and unemployment continues  to widen,” he said. “A lot of people who run small businesses are not structured; they lack defined goals, business models,  and value propositions. This training is helping to move them from just saying ‘let me also do something’ to running  well-structured businesses.”

    He described the feedback from participants as encouraging, noting that the sessions had helped them identify gaps and  opportunities within their ventures.

    “For them to even identify gaps in their businesses means that, even if they didn’t know before, this training has opened their eyes to the potential of what their enterprises can become,” he said, adding that the academy’s support would continue after the programme.

    Agboto urged the women to be bold and believe in their potential, citing TAFTA’s founder, Mrs. Austen-Peters, as a role model in the creative sector.

    “We encourage them to unleash their creativity and not be afraid. They can do anything at any time, no matter their age or what they have been through,” he said. “There are no real limitations, only things to figure out.”

    ​  

    Funmi Ogundare TAFTA Empowers Young Women in Creative Industry with Skills to Build, Fund Sustainable Businesses Funmi Ogundare Terra Academy for the Arts (TAFTA), Thursday, held a three-day empowerment programme

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