Abeokuta: The President of Inner Galaxy Group, Mr. Li Shuang, has announced his company’s intention to invest $400 million in establishing a hot rolled coiled steel factory in Ogun State. This announcement was made during a courtesy visit to Governor Dapo Abiodun of Ogun in Abeokuta, highlighting the company’s expansion plans in Nigeria.
According to News Agency of Nigeria, the proposed factory in Ewekoro Local Government Area is expected to provide employment for approximately 6,500 direct and indirect workers. The company aims to commence operations by April 2026, marking a significant step in their strategic expansion. Inner Galaxy Group, a multinational with extensive investments in Asia, the Philippines, Malaysia, and several African countries, including Ghana and Angola, entered the Nigerian market in 2005, focusing initially on the production of iron rods for the building industry.
Governor Abiodun expressed his enthusiasm for the investment, attributing it to his administration’s efforts to make Ogun State an attractive destination for industrial ventures. He emphasized that this investment aligns with the President’s vision to grow Nigeria’s economy to a trillion dollars, highlighting the potential for job creation and economic development. The governor also mentioned plans to commission a multimillion-dollar diagnostic equipment facility, reflecting the ongoing industrial growth in the state.
Furthermore, Abiodun pointed out Ogun State’s abundant natural resources, including alluvial gold and high-quality lithium, which contribute to its status as a leading non-oil revenue generator in Nigeria. He noted that the state is a top producer of limestone, cement, and other minerals in Sub-Saharan Africa. The governor assured that the state offers a supportive infrastructure ecosystem, including roads, rail, airport proximity, affordable housing, quality healthcare, and educational facilities to support incoming investments.