The Nigerian government says the resuscitation of the Ajaokuta Steel company is crucial to President Bola Tinubu’s agenda of job creation, diversification of the economy and attraction of foreign direct investment.
Nigeria’s Minister of Steel Development, Shuaibu Audu, on Wednesday, revealed the federal government’s three-year plan to revive the moribund Ajaokuta Steel complex.
According to the statement, the minister who was accompanied on the trip by the Permanent Secretary of the ministry, Mary Ogbe, Staff of the ministry, and some foreign investors, said that the visit was aimed at giving him first-hand knowledge of the problems stopping production in the company in a bid to proffer solutions.
“Part of the things is the roadmap to designate the 24,000 hectares land of Ajaokuta an industrial park, to create a free trade zone that will further attract foreign direct investment. The minister noted that he was on the tour with potential foreign investors and experts who have shown interest in bringing FDI to unlock these potentials.Mr Audu said the investors would carry out an advanced technical audit of the steel complex and its facilities to see what more was to be done.
He said that he is beginning his tour of office at the Ajaokuta Steel Company and the Itakpe Iron Ore Mining Company Limited, the two places which host the biggest investment and deposit of Steel production and Iron Ore in Nigeria and West Africa.
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