Ogun State is set to receive a major economic boost as Inner Galaxy Group, a multinational industrial conglomerate, announced plans to build a $400 million hot rolled coiled steel factory in Ewekoro Local Government Area. The facility, expected to begin operations in April 2026, is projected to create approximately 6,500 direct and indirect jobs.
The announcement came during a meeting between Inner Galaxy Group President Mr. Li Shuang and Governor Dapo Abiodun in Abeokuta. Mr. Shuang emphasized the company’s long-standing presence in Nigeria since 2005 and its commitment to expanding its industrial footprint in Africa.
Governor Abiodun lauded the investment as a testament to his administration’s efforts to position Ogun as the industrial capital of Nigeria and West Africa. He noted:
“This $400 million investment aligns with President Tinubu’s trillion-dollar economy vision. You’re not just building a factory—you’re helping build Nigeria’s economic future.”
The governor highlighted Ogun’s rich resource base, including high-grade lithium, alluvial gold, and vast limestone reserves, positioning the state as a leading center for cement production in Sub-Saharan Africa.
He also underscored the state’s readiness for industrial growth, citing existing infrastructure such as roads, rail, air transport, affordable housing, healthcare, and educational facilities.
Mr. Shuang expressed enthusiasm about the project’s potential impact, reinforcing the company’s confidence in Ogun’s investment climate.
