FG, China partner on building new steel plant in Nigeria, military hardwares in Ajaokuta Steel Plant

As part of efforts to industrialise Nigeria through the steel industry, the Federal Government has commenced discussions with renowned Chinese Company, Luan Steel Holding Group to build a new steel plant in Nigeria and commence the building of military hardwares in Ajaokuta Steel Plant.

This formed the crux of the visit by a delegation led by the Minister of Defence, Alhaji Mohammed Badaru, CON and the Minister of Steel Development, Prince Shuaibu Abubakar Audu in their visit to Luan Steel Holding Group in Hefei and Guangzhou Regions of China.

Prince Audu in a statement made available by his Special Assistant on Media, Lizzy Okoji on Thursday, stated 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 GCFR.

According to Prince Audu, work has commenced to create an operational steel industry that would attract billions of dollars of foreign direct investments into the country, open up the nation’s economy, and create hundred of thousands of job opportunities, which form the core of the renewed hope agenda.

The Minister of Steel Development further noted that building military hardwares in Ajaokuta Steel Plant is also timely, considering that Nigeria is faced with security challenges. Adding that, this 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.

“So many prospective investors have also shown interest in coming on board with the ‘renewed hope’ administration to develop the Nigeria Steel Industry which is a priority for Mr. President.

“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,” Audu stated.