Nigeria, China to build new steel plant — Minister

Prince Shuaibu Audu, Minister of Steel Development has disclosed plans by Nigeria and China to build a new steel plant in the country.

In a statement signed by Head, Press and Public Relations, Department of the Steel Development Ministry, Salamatu Jibaniya,  the  initiative was  the result of the visit by Audu along with the Minister of Defence, Alhaji Mohammed Badaru, and the Permanent Secretary, Ministry of Steel Development, Dr. Mary A Ogbe to Luan Steel Holding Group in Hefei and Guangzhou Regions of China.

He said that the trip to China is one of the steps being taken to realise the goals of reviving the steel industry in Nigeria according to President Bola Tinubu’s ‘Renewed Hope’ Agenda.

He also disclosed that government would create an operational steel industry that would attract billions of dollars through foreign direct investments into the country while also opening up the nation’s economy and create thousands of job opportunities for the citizens.

According to him “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.

He said 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.

He noted that he and th Minister of Defence led  the  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, which enabled them to have a first-hand look at the Luan steel plants before arriving at a decision.

The minister expressed optimism that, with all the commitments on ground, the government is optimistic that before the end of the present administration, it would commence commercial steel  production in some of the government owned entities in Nigeria.

In a related development, the Minister said Ajaokuta Steel Company Limited, ASCL, will soon commence manufacturing of military hardwares, adding that, this would help in the fight against insecurity.

“Building military hardwares in Ajaokuta Steel Plant is also timely, considering that Nigeria is faced with security challenges”, he added.