Progress and Happenings Around Ajaokuta Steel Complex

26/03/2026

let's begin a journey of knowing Ajaokuta Steel Company section by section, beginning from Wednesday 1st of April 2026.

26/03/2026

Decrying the lost opportunity due to the lack of a functioning steel industry, Chief Executive Officer (CEO), Centre for the Promotion of Private Enterprise (CPPE), Dr Muda Yusuf, said Nigeria must, as a matter of urgency, revive its abandoned steel sector if it intends ever to become a serious manufacturing country.
He said beyond this current agreement, which is an example of Nigeria’s failure over the years to develop its heavy industry, he decried the loss of jobs, growth of smaller industries and capital flight.

“Trillions of naira have been earmarked and spent over the years on Ajaokuta and the different aluminium smelters scattered all over the country, with nothing to show for it. The same rot is visible in our paper industries and we have to import wood pulp to produce paper and other packaging materials. These are heavy industries that are supposed to support and feed the lighter industries; that is the whole principle of backward integration, which has now been completely defeated,” he said.

Regretting what he described as government failure, he pointed out that to date, billets and flat sheets are still imported to produce iron rods, something he said Ajaokuta and the rest should be supplying.

“We are not supporting investments in heavy industry and a glaring example is the complete failure of our steel industry, aluminium smelters and paper mills. We can trace the backward integration and the effects of these industries if they were functioning and how they would have reduced our import dependency.

“Every single steel used in Nigeria today is imported; it is a sad situation. Our construction industry uses a lot of steel yearly and we import every single one. Now, imported steel would be used to revamp the ports, when Ajaokuta and the other could have supplied the steel to be used. The level of loss and capital flight cannot be quantified,” he said.

credit: The Guardian News

26/03/2026

*£746 million port financing deal triggers steel import concern*

The signing of the £746 million port infrastructure agreement between Nigeria and the United Kingdom is raising concerns among stakeholders.

The agreement aims to modernise two of Nigeria’s busiest maritime hubs – Apapa and Tincan ports.

Of the £746 million, British contractors will take £246 million, while another £70 million will go to British Steel.

Experts decried the planned importation of steel for port revamp as a reflection of the neglect of the moribund steel industry (Ajaokuta Steel Company).

An economist, Prof. Akpan Ekpo, argued that this deal simply reinforces Nigeria’s neo-colonial status and only benefits British industry by revitalising its ailing steel industry and enhancing its banks. He said it would leave Nigeria in generational debt and would only create jobs for the British, not for Nigerians.
“If you look at the deal that was signed, all the equipment needed to renovate the port is coming from the British side and there is not much gain for Nigerians or our local industries. It would have been better for proper experts to go over the deal thoroughly before agreeing to sign any MoU. This deal will leave Nigerians in serious debt,” he stressed.

He regretted that the Ajaokuta steel company, as well as the one in Osogbo and other steel companies nationwide, have been abandoned and left to rot away, which he said should have supplied the steel needed to revamp the ports.

“Instead of us trying to revive our collapsed steel industry, the president went to sign a deal to import British steel into Nigeria. This deal will not benefit us, our local industries or economy in any way,” he said.
Over the last decade, the Federal Government has spent close to two trillion Naira on the Ajaokuta facility through salaries, settlements and various ‘revival’ efforts. Yet, the plant has never produced steel commercially.

26/03/2026

why can a lion be left asleep for over 40 years, it's insane

02/07/2024

https://nannews.ng/2024/07/01/don-tasks-fg-on-revamping-ajaokuta-steel-company/

A Don, Prof. Osita Agbu, has urged the Federal Government to revitalise the Ajaokuta Steel Company Limited to boost the country’s economy through

28/04/2022

https://punchng.com/fg-approves-n853m-to-concession-ajaokuta-steel-company/

28/04/2022

https://punchng.com/fg-approves-n853m-to-concession-ajaokuta-steel-company/

The Federal Executive Council, on Wednesday in Abuja, approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited.

31/07/2021

Olamilekan Adegbite, the minister of Mines and Steel Development, says Ajaokuta Steel Company Limited will function to capacity before the end of President Muhammadu Buhari’s administration.

Mr Adegbite made this known during the News Agency of Nigeria (NAN) Forum in Abuja.

He said the federal government had made effort to ensure that the Russian company that built the steel industry would come to Nigeria to conduct technical audit of the company.

He said the Russian team would have been in Nigeria since 2020 for the technical audit but COVID-19 pandemic distorted the plan.

NAN recalls that the minister had earlier said that a 60-man team from Russia would arrive in Nigeria to start technical audit of Ajaokuta steel.

The agreement on how to revive the steel company was reached during a meeting between President Muhammadu Buhari and President Vladimir Putin in Russia in 2019.

The Russian government had nominated TPE, the original builder of Ajaokuta Steel Company, to conduct technical audit of the steel company to ascertain the level of work remaining to be completed on the steel company.

However, the minister said the main purpose of the steel company when it was conceived and built was to produce liquid steel, adding that the National Iron Ore Mining Company (NIOMCO) was set up at Itakpe in Kogi to feed it with iron ore.

He explained that liquid steel could be used for building aeroplane and car engine parts, among others.

“Ajaokuta Steel Company has not been able to produce liquid steel since it was built –the little hurdles we need to address.

“The steel company has worked in the past whereby billet were imported to produce reinforcement but that was not what Ajaokuta steel was built for,” he said.

He also said the ministry had recently trained some youths in the metal sub-sector on national development to ensure human capital development with special emphasis on vibrant metals operators.

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28/03/2021

04/01/2021

Ajaokuta Steel Boss Thumbs Up Buhari Over Project Implementation Team
…..Salutes Workers for Steadfastness
The Sole Administrator of the Ajaokuta Steel Company Limited(ASCL) Engr. Sumaila Abdul-Akaba, has once again commended the President Buhari-led administration for putting in place the Ajaokuta Presidential Project Implementation Team(APPIT) as part of efforts to realize the Ajaokuta dream.
The Ajaokuta Steel boss gave the commendation in his New Year message to workers titled: “MAY THE YEAR 2021 TAKE US ACROSS THE BRIDGE”.
He said that “this Government has gone very far through the activities of the Ajaokuta Presidential Project Implementation Team (APPIT) in seeing that the terms and conditions of the Federal Government partnership with the Russian Federation, comes to fruition”.
Speaking on the powers of prayers and perseverance on the part of the workers of the steel plant, the Sole Administrators further said” My dear great soldiers of Ajaokuta Steel Plant, the year 2020 saw the light in us, it saw our determined spirit and burning desire for Ajaokuta Steel Plant. God almighty saw our heart and directed the attention of the President Muhammadu Buhari led Administration towards the Ajaokuta Steel Dream”.
Hear him, “You will recall that, in my 2020 message to you all, I tasked us all to thank God our creator for blessing our collective efforts, prayers, perseverance, steadfastness and belief that ‘Ajaokuta Dream’ can become a reality”.
He reminded the workers of the great American Leader Abraham Lincoln’s admonition to his people when he told them he was not bound to win, but bound to be true. He also said he was not bound to succeed, but bound to live by the light he had in him.
He noted that “Peace and security are great elements that stimulate growth and development of a nation, stressing that Ajaokuta Steel Plant is lucky to be in an environment that has promoted safety of the facilities and its inhabitants, while thanking the courage and pro-activeness of the Executive Governor of Kogi State, His Excellency, Alhaji Yahaya Adoza for providing this enabling environment.
“My dear great compatriots, I must say that I am very proud of you all and the testimony of our Permanent Secretary, Dr. Oluwatoyin Akinlade who said….. ‘’Nigeria owes the workers of this Company a lot of gratitude. On behalf of the President, Commander-in-Chief, we say Thank You for keeping this national asset intact…’’is a confirmation and recognition of your resilience and courage to hold on.
“As we enter the New Year 2021, let us resolve to continue with our positive disposition and firm commitment to defend the Ajaokuta Steel Dream as always and by the grace of God our prayers and efforts shall be crowned with success to his glory and to the development of Nigeria.
Let me therefore take this opportunity to once more thank President Muhammadu Buhari for his abiding faith in a functional Ajaokuta Steel Plant.
I also wish to thank our Minister, Arc. Olamilekan Adegbite and his colleague, the Minister of State, Dr. Uchechukwu Ogah, the Permanent Secretary, Dr. Oluwatoyin Akinlade and the entire leadership of the Ministry of Mines and Steel Development for sustaining hope and driving the Ajaokuta Dream to fruition.
To us here, the year 2020 was the year of laughter and joy; however, we have had our sad moments especially that we had lost some of our dear friends and colleagues to the great beyond. May the good lord bless their souls; console their immediate families and all members of the Ajaokuta family.
He charged the management, workers, and the Unions to remain steadfast and ensure ”we continue to support the current initiative of the President of the Federal Republic of Nigeria, so that our collective efforts will take us across the Bridge”