Nigeria has signed a $1 billion memorandum of understanding with India's Rashmi Metaliks Group to develop its domestic steel sector. While the deal aims to reduce a $10 billion import bill and utilize Nigeria's vast iron ore reserves, experts warn that unreliable power and gas supplies could hinder production. To avoid the heavy emissions associated with traditional coal-based steel, the project is being urged to adopt Direct Reduced Iron (DRI) and gas-based plants. Success depends on the government's ability to provide dedicated energy infrastructure and enforce strict environmental and carbon efficiency standards.
