Nigeria Set to Revive Steel Industry, Partners Chinese Steel Company for Ajaokuta Revitalisation

• A high-level team led by Joseph Tegbe and Shuaibu Abubakar Audu held strategic talks with Sino Steel to revitalise Nigeria's Ajaokuta Steel Company
• The discussions focused on developing technological, operational, and financial models to restore the facility's productivity, aligning with Nigeria's industrial growth goals under President Tinubu's agenda
• Sino Steel expressed strong interest in the project, promising to send a technical team to conduct a viability study and provide a roadmap for modernisation and long-term sustainability

Legit.ng journalist Zainab Iwayemi has 5-year-experience covering the Economy, Technology, and Capital Market.

A high-level team headed by Joseph Tegbe, Director-General of the Nigeria-China Strategic Partnership (NCSP), and Shuaibu Abubakar Audu, Minister of Steel Development, has conducted strategic talks with Sino Steel, one of China's biggest steel corporations, to revitalise Nigeria's comatose steel industry.

A key step in unlocking one of Nigeria's most valuable industrial assets was taken at the conference, which focused on creating a practical plan for the Ajaokuta Steel Company's revitalisation.

The technological, operational, and financial models required to restore the facility to full-scale productivity were the main topics of discussion.

Infrastructure development, industrialisation, and more local content are top priorities for the federal government under President Bola Ahmed Tinubu's Renewed Hope Agenda.

Ajaokuta, which was initially planned to have an annual capacity of 1.9 million tonnes with the potential to grow to 5 million tonnes, is seen as a key component for advancing industries, including heavy machinery manufacturing, automobile manufacturing, and construction.

Describing the engagement, NCSP’s Joseph Tegbe said,

“The discussions were strategic, technical, and action-oriented. This collaboration reflects a strong alignment between Nigerian economic aspirations and China’s industrial expertise.”

Sino Steel, on the other hand, stated that it was very interested in the project and promised to send a technical team to Nigeria in the upcoming weeks to conduct a thorough viability study of the Ajaokuta factory.

The company will provide a progressive roadmap for modernisation, production optimisation, and long-term sustainability based on its results.

Minister Audu restated the government's resolve to revitalise Ajaokuta via alliances based on competence and trustworthiness.

“We are determined to move beyond rhetoric and deliver a steel sector that drives national industrial growth and global competitiveness,” he said.

In line with the common goals of Presidents Tinubu and Xi Jinping, this development is part of a larger Nigeria-China partnership as the two countries strengthen their strategic partnership on manufacturing, infrastructure, and industrial development.

Tinubu appoints new MD for Ajaokuta steel company

Legit.ng reported that President Bola Ahmed Tinubu appointed Nasir Naeem Abdulsalam as the Managing Director of Ajaokuta Steel Company.

The appointment is in accordance with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc) Act 2008 as amended.

The Director, Information & Public Relations to the Secretary to the Government of the Federation, Segun Imohiosen, said Nasir’s appointment takes effect from 3rd April 2025.

Source: Legit.ng