The steel production process results in the emission of naturally occurring radioactive and toxic heavy metals, which are inherent in the raw materials employed as the initial components. To assess the public exposure through atmospheric dispersions of such radiotoxic metals originating from the production plants and the disposal of associated wastes in nearby landfills, a pioneering study was conducted to assess the radioactivity in forty-four soil samples collected from the environs of sixteen different steel mills in the megacity of Dhaka, Bangladesh, using high-purity germanium (HPGe) γ-ray spectrometry. The results indicated activity ranges of 6 ± 1 to 37 ± 3 Bq/kg, 6 ± 1 to 45 ± 4 Bq/kg, and 101 ± 9 to 470 ± 45 Bq/kg for 226Ra, 232Th, and 40K, respectively, in the soil samples. Radiological hazard parameters were assessed, and none surpassed the recommended limits set by various international organisations. These results underscore that soil samples obtained from the vicinity of the steel mills do not present an immediate and significant risk to the local community in terms of radiation hazards. Nevertheless, given the observed physical alterations in the soil samples, likely resulting from chemical reactions with pollutants released from the steel mills, it is advisable to refrain from using the examined soil samples for agricultural or construction purposes. This study aims to establish a foundational dataset, serving as a crucial reference for the upcoming commissioning of the Rooppur Nuclear Power Plant in the fiscal year 2024–25. This study advocates for the adoption of a systematic and regular monitoring programme to assess radiation levels in the vicinity of steel production industries across the country.