The Minister of Steel Development, Shuaibu Abubakar Audu, has disclosed that the Federal Government is at an advanced stage in its efforts to revive the long-dormant Ajaokuta Steel Company located in Kogi State.
Speaking during a recent engagement with stakeholders, Audu emphasized the strategic importance of the steel plant to Nigeria’s industrialization drive. He noted that significant progress had been made in negotiations and planning aimed at restoring operations at the facility, which has been moribund for decades.
“The revival of Ajaokuta Steel Company is a top priority for President Bola Ahmed Tinubu’s administration, and we are now at an advanced stage in this effort,” Audu stated. “This is not just about resuscitating a company—it is about unlocking thousands of jobs, driving economic growth, and positioning Nigeria as a key player in the global steel market.”
The minister explained that the government is working closely with both local and international partners to ensure a comprehensive and sustainable approach to the revival process. While specific timelines were not provided, Audu expressed optimism that the renewed efforts would soon yield tangible results.
Once fully operational, the Ajaokuta Steel Company is expected to significantly reduce Nigeria’s dependence on steel imports and provide a critical boost to the country’s manufacturing and construction sectors.
Built in the late 1970s with the vision of making Nigeria self-sufficient in steel production, Ajaokuta Steel Company has remained largely non-functional due to years of mismanagement, underfunding, and legal disputes. The current administration has pledged to resolve these longstanding issues as part of its broader economic reform agenda.
