The Minister of Steel Development, Shuaibu Abubakar, has said that the Ajaokuta Steel Company needs a technical audit to re-evaluate the comatose state of the project.
He, however, added that Ajaokuta, which is the bedrock of the nation’s industrialisation, has achieved 90 per cent completion.
The minister disclosed this while addressing a press Thursday in Abuja.
He also revealed that President Bola Tinubu would attend the maiden edition of the National Steel Summit, scheduled to hold July in Abuja.
The summit, he said, aimed at rebuilding, renewing and unlocking Nigeria’s steel potential, with a focus on collaborative action for sustainable growth and global competitiveness.
The minister noted that the summit would adopt a consensus way forward for the revival and sustainable development of the steel sector.
Audu stated: “Ajaokuta, which is the bedrock of the nation’s industrialisation and 90 per cent completion, presently needs a technical audit to re-evaluate the comatose state of the project.
“Despite the chequered history of Steel development in Nigeria which dates back to 1958, the present Renewed Hope Administration of President Bola Ahmed Tinubu, is already pushing the right buttons to ensure the emergence of a virile Steel industry in Nigeria along the following key mandate instructions.
“This present administration is trying to position Nigeria as a major steel hub for Sub-Saharan Africa, contributing significantly to national GDP, creating a robust and competitive steel industry that services critical sectors of the economy.”