The minister of steel development, Prince Shuaibu Abubakar Audu, has engaged a consortium led by the original developers of Ajaokuta Steel Company Limited (ASCL), Tyamzhpromexport (TPE) to revive the steel plant.
Audu who met with the consortium comprising a team from Russia’s TPE/Rostec, Novostal and Nigeria’s Proforce in Abuja, urged them to put together a blueprint for the revival of the steel plant within the shortest possible time.
This, he says, is in line with President Bola Ahmed Tinubu’s ‘Renewed Hope Agenda’, which is keen on ensuring the production of steel and industrialising the country through the steel sector before the end of his first term in office.
Prince Audu said following the meeting, he intends to visit Moscow on a formal invitation from TPE and other consortium partners to engage in further discussions in order to secure funding to the tune of about $2 billion required for the revival of the entire steel plant.
The minister thanked the Embassy of the Russian Federation in Nigeria for facilitating the meeting with the TPE Consortium, which, he said, if gotten right, would be a monumental success in driving Nigeria’s economy through industrialisation.
The general director of TPE and leader of the consortium Mr Sergei Egorov commended the minister for the steps taken so far in putting together the consortium for the resuscitation of the steel plant, which has been moribund for years.
Egorov and his team of technical experts, who had earlier gone on a tour of the steel complex a few days earlier, noted that the plant was still in a state of possible resuscitation, indicating their interest in putting together a business case for the government.
“We came with our technical experts and are quite impressed at the current state of the Ajaokuta Steel Plant. We would do a full technical audit of the plant and then take a final decision.
“We are happy to come on board the resuscitation of the steel plant for the benefit of Nigerians,” Egorov said.
Mr Valery Shaposhnikov, Deputy Head of the Russian Embassy in Abuja, Nigeria, also commended the potential partnership, which he says would be carefully reviewed for the mutual benefit of both countries.
A statement by the head, press and public relations department of the ministry, Salamotu Jibaniya noted that the Deputy Head of the Embassy expressed optimism in the vision of President Bola Ahmed Tinubu to revive the complex, adding this is the first time since the administration of Shehu Shagari in 1979 that a Nigerian government would show great political will in getting the steel plant operational again.
Steel minister meets Ajaokuta steel builders on resuscitation
