The Federal Government has said that more steps have been taken to revive the moribund Ajaokuta Steel Company, an important industrial asset considered critical to Nigeria’s manufacturing ambitions and job creation strategy.
FG recently shared that top-level talks have started happening with leading Chinese steel conglomerates to bring the company back to life.
The government has met Chinese officials to seek technical expertise, financial backing, and industrial partnerships to return the facility to full productivity.
The initiative is part of ongoing efforts by the Minister of Steel Development, Shuaibu Audu, who is presently leading a federal delegation on an investment drive to China to attract strategic investors and progress the country’s industrialisation agenda.
So far, they’ve met with key executives from top Chinese steel manufacturers such as Sino Steel (a subsidiary of the Baowu Group), Fangda Steel Group, and Jingye Steel Group.
Speaking via a press statement, the Minister’s Special Assistant on Media, Lizzy Okoji, disclosed that discussions with the Chinese firms have focused on revamping the facility that has always been viewed as a vital component of Nigeria’s industrial and economic transformation.
According to Shuaibu Audu, reviving the Ajaokuta Steel Company remains a key priority that aligns with the vision of President Bola Tinubu’s Renewed Hope administration; therefore, the ongoing efforts will yield good results.
He noted that securing concrete technical and financial collaborations is the goal right now, stressing that the facility has massive potential to aid industrial growth, increase local manufacturing, and generate lots of direct and indirect jobs for Nigerians.
“Our objective is clear: to secure strong technical and financial partnerships that can help us bring Ajaokuta Steel back to life. The facility has immense potential to catalyse industrial growth, boost local manufacturing, and generate thousands of direct and indirect jobs for Nigerians.
Talks also centred around technical evaluations, operational modelling, and financing frameworks required to restore the facility to full productivity,” he said.
The Director-General of the Nigeria-China Strategic Partnership, Mr Joseph Tegbe, concluded by saying that the meetings with the Chinese are geared towards aligning China’s vast industrial capabilities with Nigeria’s economic development goals.
“This engagement highlights Nigeria’s seriousness in building transformative partnerships that will unlock long-term value across the manufacturing and infrastructure sectors,” he added.
Folami David is a dynamic journalist who views the world through an analytical lens, translating complex narratives across multiple industries into compelling stories. With an insatiable appetite for information and a keen eye for emerging trends, Folami specializes in uncovering the interconnections between technology, business, culture, and society.
