FG Engages Chinese FirmsTo Revive Ajaokuta Steel
The Federal Government says it has taken additional steps in its quest to revive the moribund Ajaokuta Steel Company, a key industrial asset considered critical to Nigeria’s manufacturing ambitions and job creation strategy.
To resuscitate the long-abandoned steel company, the government said it has commenced high-level talks with leading Chinese steel conglomerates, seeking technical expertise, financial backing, and industrial partnerships to return the facility to full productivity.
The initiative is part of ongoing efforts by the Minister of Steel Development, Shuaibu Audu, who is currently leading a federal delegation on an investment drive to China to attract strategic investors and advance Nigeria’s industrialisation agenda.
Ajaokuta Steel, which was originally conceptualised in the late 1970s, has remained largely non-functional for decades due to a mix of policy inconsistencies, failed concessions, and underinvestment.
However, the current administration has pledged to complete the revival process and position the company as a major driver of Nigeria’s industrial resurgence. The company, with an existing installed capacity of 1.9 million tonnes and the potential to scale up to 5 million tonnes annually, remains a cornerstone of this, particularly in supporting the automotive, construction, and heavy machinery sectors.
