Stellar Steel Company Limited is set to begin operations in Ogun State by mid-2026 in a move expected to boost local manufacturing and reduce Nigeria’s steel import bill.

The company, a subsidiary of Galaxy Group and RSIN Group based in Fuzhou, Fujian Province, China, will produce hot-rolled coil steel, iron steel doors, and gas cylinders once operational.

Speaking during a courtesy visit to Governor Dapo Abiodun, RSIN Group Vice Chairman You Xiaotan said the project was progressing according to schedule and would be completed next year.

Xiaotan said:

“Stellar Company Limited is the biggest investment for our group in Nigeria. The project is going very smoothly all levelling and foundation work is complete, and we expect to start operations next year."

He also revealed that more investors from Fujian Province are being encouraged to establish factories in Ogun due to the state’s rapidly growing economy, ThisDay reports.

Ogun State is excited about the new investment Governor Dapo Abiodun praised the investment, describing it as another validation of Ogun’s position as Nigeria’s industrial capital.

He noted that the state recently signed a sister-state agreement with Shandong Province, opening new opportunities for trade and investment.

The governor said:

“Your presence translates to prosperity for our people because you create jobs and grow our economy.

“This $400 million investment aligns with the president’s vision to grow this economy to a trillion dollars, and you will be contributing your quota.”

He pledged continued government support through fast-tracked approvals, Certificates of Occupancy, and possible tax waivers.

Abiodun also highlighted Ogun's resources, which include limestone, alluvial gold, and high-quality lithium.

He mentioned that the state leads Sub-Saharan Africa in cement production and non-oil earnings.

Once completed, the Stellar Steel plant is expected to create hundreds of jobs and strengthen Ogun State’s status as Nigeria’s leading hub for industrial and manufacturing investments.