A $450 million steel manufacturing firm, Stellar Steel Company Limited, is set to commence operations in Ogun State by mid-2026.
The investment, spearheaded by Stellar Steel Company Limited — a subsidiary of Galaxy Group and RSIN Group, headquartered in Fuzhou, Fujian Province, China — will focus on producing hot-rolled coil steel, iron steel doors, and gas cylinders. The development is expected to significantly reduce Nigeria’s dependence on imported steel.
During a courtesy visit to Governor Dapo Abiodun at the Government House, Abeokuta, the Vice Chairman of RSIN Group, Mr. You Xiaotan, said the project was progressing as planned and would be completed next year.
“Stellar Steel Company Limited is the biggest investment of our entire group in Nigeria. We are here to update His Excellency that our project is going very smoothly.
“We have completed the levelling and foundation work, and everything is on schedule. The total investment for this project is $450 million, and we will finish and begin operations next year,” he said.
Xiaotan also revealed that more companies from Fujian Province are being encouraged to invest in Ogun State, given its rapidly expanding industrial landscape.
In his response, Governor Abiodun reaffirmed his administration’s commitment to fostering an investor-friendly environment, noting that the state recently signed a sister-state agreement with Shandong Province, China, to deepen economic ties and attract new partnerships.
“When investors like you choose Ogun, it validates the work we’ve done to make the state attractive for business. Your investment translates to prosperity for our people — through job creation and growth in our Gross Domestic Product,” the governor said.
He assured the company of his administration’s readiness to facilitate necessary approvals, including Certificates of Occupancy, and to consider waivers, tariffs, or reliefs through the Ministry of Industry, Trade, and Investment to ease operations.
Abiodun added that his government would continue to provide the infrastructure and policy support required to sustain Ogun’s status as Nigeria’s industrial capital.
The establishment of Stellar Steel Company Limited further consolidates Ogun State’s position as a leading destination for industrial and manufacturing investments in Nigeria
