The Minister of Steel Development, Prince Shuaibu Audu has reaffirmed the Federal Government’s unwavering commitment to kickstart production at the Ajaokuta Steel Plant, with the goal of fostering industrialisation, creating jobs, generating wealth and attracting foreign direct investment.
During his inaugural visit to the Ajaokuta Steel Plant in Kogi State on October 4, 2023, accompanied by the permanent secretary of the ministry, Dr. Mary A. Ogbe, Audu expressed the government’s dedication to this revitalisation effort.
Audu unveiled that the Ministry of Steel Development is currently formulating a comprehensive road map that includes a three-year revival plan for the steel plant. Additionally, the plan will propose designating the plant area as an industrial park and free trade zone to draw both local and international investors.
Aligned with President Bola Ahmed Tinubu’s Renewed Hope Agenda, the administration is resolute in its mission to rejuvenate the Ajaokuta Steel Plant, which has languished for approximately 45 years. The revival of this plant holds immense promise for the nation, with the potential to create around 500,000 jobs for Nigerian youths.
Audu emphasised that the facility visit aimed to assess the operational and non-operational aspects of the plant and proffer recommendations for its reinvigoration and resumption of production. The production of steel sheets from the Ajaokuta Steel Plant would be a significant milestone, not achieved in over four decades.
Although the task is formidable, the minister appealed for the cooperation of all stakeholders, asserting that with their support and genuine commitment, success is attainable.
Welcoming the minister and the permanent secretary, the sole administrator of Ajaokuta Steel Company Limited, Engr. Sumaila Abdul-Akab highlighted that the visit would provide them with firsthand insights into the Plant’s operations and the abundant investment prospects it offers.
Sumaila underscored the far-reaching benefits that would emanate from the completion and activation of the Plant, including increased revenue generation for the nation. Additionally, it will have a significant impact on the Federation Account’s accruals and galvanize development, particularly in Kogi, the host state and Nigeria at large.
