FG To Revive Ajaokuta Plant To Create Jobs, Boost Economy

Eko Hot Blog reports that The Minister of Steel Development, Shuaibu Audu, has stressed the need to resuscitate the Ajaokuta Steel Company.

During a press briefing in Abuja on Monday, Audu affirmed his commitment to restoring the moribund steel plant.

According to him, he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.

He said, “Our past leaders recognised the importance of steel development but lacked the political will to achieve its objectives.

“The steel development is synonymous with the Ajaokuta Steel plant, whose commencement has been over 40 years ago. We aim to start the engine and ensure that we produce at least a small sheet of steel within this administration.

“It is a known fact that steel is the bedrock of any nation’s development; if gotten right, it may be the beginning of our industrial revolution.”

The PUNCH recently reported that the Federal Government allocated over N3bn to cover personnel costs at the Ajaokuta Steel Company each year from 2016 to 2023.

Between 2016 and 2023, a total of N29.35bn has been allocated to cover personnel costs for the Ajaokuta Steel Complex.

Despite the regular budget, the steel company is yet to commence full operations in over 42 years, with the government making failed attempts at privatisation and concension.

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