The Federal Government on Friday announced that 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.
The delegation includes the Director-General of the Nigeria-China Strategic Partnership, Mr Joseph Tegbe, and top officials from the Nigerian Embassy in Beijing.
They have so far met with key executives from top Chinese steel manufacturers such as Sino Steel (a subsidiary of the Baowu Group), Fangda Steel Group, and Jingye Steel Group.
A statement issued by the minister’s Special Assistant on Media, Lizzy Okoji, said discussions with the Chinese firms focused on conducting technical evaluations, designing operational models, and structuring financing frameworks needed to breathe life back into Ajaokuta Steel, a facility long viewed as a critical component of Nigeria’s industrial and economic transformation.
Speaking on the ongoing mission, Audu reaffirmed that under President Bola Tinubu’s Renewed Hope administration, the revival of the Ajaokuta Steel Company remains a key priority and would be realised before the end of the current government.
“Our objective is clear: to secure strong technical and financial partnerships that can help us bring Ajaokuta Steel back to life. The facility has immense potential to catalyse industrial growth, boost local manufacturing, and generate thousands of direct and indirect jobs for Nigerians.
“Talks also centred around technical evaluations, operational modelling, and financing frameworks required to restore the facility to full productivity,” the Minister stated.
Echoing similar sentiments, Mr Tegbe described the meetings as “a strategic move to align China’s vast industrial capabilities with Nigeria’s economic development goals.”
“This engagement highlights Nigeria’s seriousness in building transformative partnerships that will unlock long-term value across the manufacturing and infrastructure sectors,” he said.
The latest development comes amid growing calls for Nigeria to reduce its dependence on steel imports and channel local capacity to support infrastructure development, automobile manufacturing, and construction.
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.
