Nigeria in Talks with Chinese Steel Conglomerates to revive Ajaokuta Steel
Nigeria Government on Friday disclosed that further steps have been taken to revive the moribund Ajaokuta Steel Company.
As part of efforts to revive the abandoned steel company, the government said it is in high-level discussion with leading Chinese steel firms, seeking technical and financial expertise and industrial partnerships to return the facility to live.
The development 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 Nigerian citizens.
