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The iron and steel industry in Nigeria started by government intervention through the construction of various steel rolling mills. After iron ore deposits were discovered in old Kwara State in the 1950s, the Nigerian First Republic government began active planning and mapping of strategies for local production of iron rods and steel.
In 2008, 2009, 2015 and 2016 output fell in the majority of steel-producing countries as a result of the global recession. In 2010 and 2017, it started to rise again. Crude steel production contracted in all regions in 2019 except in Asia and the Middle East. India is the 2nd leading producer of iron and steel industries. [citation needed]
This is a list of the largest steel-producing companies in the world mostly based on the list by the World Steel Association. The list ranks steelmakers by volume of steel production in millions of tons over time and includes all steelmakers with production over 10 million in 2021.
Industry Revenue (US$ millions) Profits (US$ millions) 1 Nigeria National Petroleum: Oil and gas 9,706 1,877 2 Nigeria Liquefied Natural Gas: Oil and gas 6,315 ... 3 MTN Nigeria: Telecommunications 3,514 536 4 Dangote Cement: Cement 2,699 721 5 Nigerian Petroleum Development: Oil and gas 2,686 219 6 Flour Mills of Nigeria: Agroindustry 2,014 67 ...
Nigeria's bread sector is growing rapidly, with 72 percent dominated by small- and medium-scale bakers, according to a 2016 KPMG report. The bakery market of Nigeria is a $621 million industry. [82] "Fresh bread and miscellaneous bakery" is the bakery product group with the highest consumption (8.5M tonnes), which is 91% of total volume.
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The Global Restructuring of the Steel Industry: Innovations, Institutions, and Industrial Change London: Routledge, 1999 online version; Etienne, Gilbert. Asian Crucible: The Steel Industry in China and India (1992) *Hasegawa, Harukiyu. The Steel Industry in Japan: A Comparison with Britain 1996 online version; Hoerr, John P.