…Engages with Chinese companies on revival of Ajaokuta Steel
Nigeria’s Minister of Steel Development, Prince Shuaibu Abubakar Audu, in his bid to revive the nation’s Steel Sector, has embarked on a high-level working visit to China to attract strategic investments.
A statement signed by Lizzy Okoji, Special Assistant on Media to the Minister, said the mission to China was in order to attract strategic investments and deepen industrial cooperation with key Chinese partners.
The statement said that the Minister’s team which includes the Director General, Nigeria-China Strategic Partnership (NCSP), Mr. Joseph Tegbe, and top-level officials from the Nigerian Embassy in Beijing, have held several strategic meetings.
The meeting, it pointed out, was held with some of China’s largest and most influential steel conglomerates, including executives of Sino Steel (a member of Baowu Group), Fangda Steel Group and Jingye Steel Group.
“The crux of the meeting with the leading Chinese steel conglomerates is the revitalisation of the Ajaokuta Steel Company, a key industrial asset considered critical to Nigeria’s manufacturing ambitions and job creation strategy”, she said.
According to the statement, the talks centred around technical evaluations, operational modelling, and financing frameworks required to restore the facility to full productivity.
The Minister, in his remarks said the “Renewed Hope” administration led by President Bola Ahmed Tinubu (GCFR) under his leadership at the Ministry of Steel Development is determined to revive Ajaokuta Steel Company before the end of the current administration.
Mr Joseph Tegbe, also noted, “This strategic discussions underscores Nigeria’s commitment to forging transformative partnerships that align China’s industrial capabilities with our national development priorities.”
