Ajaokuta’s Potential for High-Quality Steel Production Highlighted by Minister Audu

The Minister of Steel Development, Prince Shuaibu Abubakar Audu, emphasized on Friday that the Ajaokuta steel complex possesses the capacity and potential to deliver high-quality steels.

During a courtesy visit from the People Expertise and Excellence Foundation (PEEF) delegation in Abuja, Prince Audu stated that a financial injection of approximately $3-5 billion would be necessary to revitalize the Ajaokuta Steel Complex, aligning with the Renewed Hope Agenda of President Bola Ahmed Tinubu.

In a statement by the ministry Information Officer, Tine-Iulun Maureen, Prince Audu said, “The Ajaokuta Steel Complex has the capacity and potential to deliver high-quality steel needed for the industrialization of the country. The Ministry is working on a 3-year Road Map for the revitalization of Ajaokuta Steel Plant and a 5-year Road Map to revive the Steel Sector generally.”

He emphasized the Ministry’s efforts to secure financing for restarting the Light Steel Mill in Ajaokuta, focusing on the production of iron rods to curb iron rod imports, thus strengthening foreign exchange reserves for the country.

The Honourable Minister urged all stakeholders to rise to the challenge of making the Nigerian Steel Sector operational, emphasizing its potential to industrialize the nation, boost the economy, reduce unemployment, and contribute to the country’s Gross Domestic Product (GDP) growth.

In her remarks, Dr. Mary A Ogbe, the Permanent Secretary of the Ministry of Steel Development/Ministry of Solid Minerals Development, expressed gratitude to the People Expertise and Excellence Foundation for offering professional advice to the Ministry. She assured the Foundation of the Ministry’s commitment to leaving a significant impact on the Steel Sector.

Alh. Mashood Yusuf, the Acting Chairman of the Board of Trustees (BOT) for the People Expertise and Excellence Foundation (PEEF), highlighted the Foundation’s mission to develop impactful techniques for enhanced productivity in Nigeria. He emphasized that PEEF believes steel production is key to industrialization and can meet the nation’s infrastructural needs by developing existing steel plants with the abundant resources in Nigeria.