# Nigeria steel industry revitalization efforts > Live situation record from CLSTR: https://clstr.news/situations/nigeria-steel-industry-revitalization-efforts > Updated: 2026-08-20T23:47:30.000Z. Sources: 3. Developments: 2. Nigeria is pursuing efforts to revitalize its steel industry by leveraging significant domestic iron ore reserves. The National Steel Raw Materials Exploration Agency (NSRMEA) identified approximately three billion tonnes of iron ore, primarily located in the Itakpe deposit of Kogi State, which could potentially support the Ajaokuta Steel Complex for decades. Building on these resource assessments, the Federal Ministry of Steel Development has moved to revive the Delta Steel Company, now known as Premium Steel and Mines Limited (PSML). Through a $1.3 billion investment commitment, PSML aims to return the Ovwian-Aladja facility to commercial production within 18 to 24 months. This revitalization includes a sub-lease and operations agreement with the National Iron Ore Mining Company, Itakpe, to ensure a sustainable supply of raw materials for production. ## Timeline ### 2026-08-20: Nigeria moves to revive Delta Steel Company with $1.3bn investment Nigeria’s Federal Ministry of Steel Development has signed an agreement to revive the Delta Steel Company, with Premium Steel and Mines Limited investing $1.3 billion to restore production within 24 months. 2 sources. https://clstr.news/cluster/nigeria-moves-to-revive-delta-steel-company-with-13bn-investment ### 2026-07-26: Nigeria's Three Billion Tonnes of Iron Ore Linked to Reviving Ajaokuta Steel Plant Nigeria claims about 3 bn tonnes of iron ore that could feed the Ajaokuta Steel Complex, but the plant remains idle; additional funding, testing and off‑takers are needed to convert the resource into steel and‑ 3 sources. https://clstr.news/cluster/nigerias-three-billion-tonnes-of-iron-ore-linked-to-reviving-ajaokuta-steel-plant --- Cite as: Nigeria steel industry revitalization efforts. CLSTR, https://clstr.news/situations/nigeria-steel-industry-revitalization-efforts