No fewer than 6,500 direct and indirect jobs are set to be created in Ewekoro Local Government Area of Ogun State as a $400 million hot rolled coiled steel factory is slated for establishment.
The President of Inner Galaxy Group, Mr Li Shuang, disclosed this on Tuesday during a visit to the Governor Dapo Abiodun’s Office at Oke-Mosan, Abeokuta, where he led a delegation of key officials from the company.
READ ALSO: Tinubu to launch world’s largest cotton factory in Ogun
Mr Li stated that the factory is expected to commence operations in April 2026.
He noted that Inner Galaxy Group, a multinational conglomerate with significant investments across Asia—including the Philippines and Malaysia—as well as in African countries such as Ghana and Angola, entered the Nigerian market in 2005 and currently produces iron rods for the construction sector.
However, Abiodun expressed delight at the scale of the investment, attributing it to his administration’s deliberate efforts to position Ogun State as the foremost industrial hub in Nigeria and the wider West African sub-region.
“This is a $400 million investment; this aligns with the President’s vision to ensure that we grow this economy to a trillion dollars, and I think that you will be contributing your quota in achieving that. We are excited that you will also be employing people.
“I will be commissioning a multimillion-dollar diagnostic equipment facility during the week. This administration has managed to attract quite a lot of industries in the last six years,” Abiodun said.
The governor stated that the state is endowed with abundant human and natural resources.
He noted that significant deposits of alluvial gold have been discovered, alongside what is believed to be the highest quality lithium in the country.
“I believe it may interest you to know that we also have lithium in Ogun State, and reports indicate that it is of the highest quality in Nigeria. This could be an area worth exploring further.
READ ALSO: Ogun govt projects rise in Olumo Rock Tourist visits to 100,000
“We rank first in non-oil revenue generation in Nigeria, as two-thirds of the state sits atop vast limestone deposits. We are home to a substantial amount of limestone, making us the leading producer of cement in Sub-Saharan Africa and the third largest across the entire continent,” the governor said.
Governor Abiodun further explained that his administration has developed an integrated infrastructure ecosystem to support investment inflows into the state.
He emphasised that critical infrastructure—including roads, rail, air transport, affordable housing, healthcare facilities, and schools—has been strategically provided to attract and sustain economic growth.
