The Federal Government of Nigeria (FGN) has reaffirmed its commitment to bring about a functional steel industry capable of producing in commercial quantity.
Minister of Steel Development Prince Shuaibu Abubakar Audu gave the assurance in China where he and his Defence counterpart, Alhaji Mohammed Badaru, led a tour of Luan Steel Holding Group, a Chinese firm that is to build a new steel plant in the country as well as military hardwares in the Ajaokuta Steel Complex in Kogi State.
This was contained in a statement signed and made available to newsmen on Thursday by the head of Press and Public Relations in the ministry, Salamatu Jibaniya.
Audu noted that the trip to China is one of the steps being taken to realise the goals of reviving the Steel Industry in Nigeria in line with the Renewed Hope’ agenda of President Bola Ahmed Tinubu.
According to him, work had commenced to create an operational Steel Industry that would attract foreign direct investments (FDI) worth billions of dollars into the country, open up the nation’s economy, and create hundreds of thousands of job opportunities in line with the Renewed Hope agenda.
He further noted that building military hardwares in Ajaokuta Steel Plant is also timely, considering that Nigeria is faced with security challenges, dding that it would help in the fight against insecurity and terrorism.
“We had very meaningful discussions with the Chairman of Luan Steel Holding Group, Mr Wang Jianbing, the Chief Executive Officer of the Company, Mr Xiao Weizhan, and other senior Executives of the Luan Steel Holding Group.
“Like several other international and local investors, Luan Steel Holding Group has indicated interest in setting up a new Steel Plant in Nigeria, as well as handling a component of the Ajaokuta Steel Plant for building military hardwares in Nigeria.
“The Minister of Defence and I led this delegation, which includes the Permanent Secretary of the Ministry of Steel Development, Dr Mary Ogbe, Sole Administrator/Managing Director of Ajaokuta Steel Company, Mr Sumaila Abdul-Akaba, to enable us have a first-hand look at the Luan steel plants before arriving at a decision.
“With all the commitments on ground, we are optimistic that before the end of President Tinubu’s administration, we will commence commercial steel production in some of the government owned entities in Nigeria.”
This is coming weeks after a deal was anounced between the Defence Minister and his Solid Minerals Development counterpart, Dr Dele Alake, in Abuja to safeguard mining areas in the face of the security challenges facing the country.
