• About Us
    • Àtẹ́lẹwọ́ Podcast
  • Contact
  • Cookie Policy
  • Disclaimer
  • Privacy Policy
  • Sitemap
Freelanews
Advertisement
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events
No Result
View All Result
Freelanews
No Result
View All Result
Home Business & Finance Business

Ajaokuta Steel Revival: Nigeria-China strategic partnership aims to industrialise Nigeria

Rtn. Victor Ojelabi by Rtn. Victor Ojelabi
June 3, 2025
in Business
0
NCSP AND STEEL MILITARY scaled

The Nigeria-China Strategic Partnership collaborates with the Ministry of Steel Development on the Ajaokuta Steel revival to boost Nigeria’s manufacturing and industrial sectors

The Ajaokuta Steel revival has gained momentum as the Nigeria-China Strategic Partnership (NCSP) teams up with the Federal Ministry of Steel Development to breathe life into the dormant steel company.

Also read: ‘Progress was stalled’ FG reveal Ajaokuta steel facility will not be ready before Buhari’s administration conclusion

This collaboration marks a significant step toward Nigeria’s industrialisation and manufacturing expansion.

At a recent strategy session with Honourable Minister Prince Shuaibu Abubakar Audu, NCSP Director General Mr Joseph Tegbe confirmed ongoing discussions on a public-private partnership with top Chinese steel manufacturers.

The initiative, based on a zero-cost investment model, proposes a revenue-sharing structure that aims to deliver long-term gains for Nigeria without upfront fiscal burden.

“This initiative is not just about restarting Ajaokuta; it’s about positioning Nigeria to lead in sectors where steel is central to productivity and development,” said Mr Joseph Tegbe.

The plan, fully backed by President Bola Ahmed Tinubu, includes a 10-year revenue-sharing model and focuses on key growth areas: furnace modernisation, sheet metal production, technology transfer, and the development of manufacturing value chains.

In response, Minister Audu reaffirmed his commitment, calling Ajaokuta “the cornerstone of Nigeria’s industrial potential.” He stressed the urgency for implementation and pledged support for the strategic rollout.

To accelerate progress, a high-level delegation led by the Minister, the Managing Director of Ajaokuta Steel Company, and the DG of NCSP will visit China.

They will inspect major steel facilities, pitch to potential investors, and highlight the project’s technical and commercial feasibility.

Experts believe the Ajaokuta Steel revival could drastically cut steel importation, stimulate vehicle assembly plants, and catalyse nationwide infrastructure growth.

Also read: ‘Ajaokuta-Kaduna-Kano (AKK) gas line’ Contractor to deliver in 24 months

Though inactive since the 1990s, Ajaokuta is now on a renewed trajectory, poised to become a vital engine of Nigeria’s industrial ambitions.

Source: Read more at channelstv.com

otunba victor profile picture scaled
Rtn. Victor Ojelabi

Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator, who writes ruthlessly about pop culture, religion, politics and entertainment.

Related Posts

man picture 1
Business

‘Change of baton’ Ogun MAN chair, Seleem Adegunwa, hands over leadership

by Freelanews
July 25, 2022
IYALAJE TOYIN KOLADE PS
Tourism

‘Olojo Festival’ Reason Iyalaje Oodua is bringing 250 Iyalojas from Yorubland to Ile Ife to commemorate day

by Freelanews
September 16, 2021
GODWIN EMEFIELE CBN PS
Business

‘Sanctioned!’ CBN penalises banks for forex violations

by Freelanews
September 23, 2021
Oshodi community feeding
Sustainability

Ocare volunteers to feed thousands in Oshodi

by Freelanews
May 19, 2025
TUC rejects 5% fuel tax
Business

TUC rejects 5% fuel tax, warns of nationwide strike

by Quadri Olaitan
September 8, 2025

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

ADVERTISEMENT

Recent News

UBA Business Series

UBA Business Series empowers African entrepreneurs with digital strategy

October 28, 2025
FCCPC finds IKEDC guilty

FCCPC finds IKEDC guilty of corrupt overbilling

October 28, 2025
Nnamdi Kanu

Nnamdi Kanu insists there’s no case against him in terrorism trial

October 28, 2025
Boluwatife Balogun

Wizkid’s first son Boluwatife Balogun announces powerful music debut

October 28, 2025

Search

  • Trending
  • Comments
  • Latest
Political persecution in Ogun State

Political persecution in Ogun State: Abiodun moves against Otunba Gbenga Daniel with demolition threats again

August 9, 2025
APC Second-Term Governors

APC: Second-term governors seeking immediate elective post to lose party leadership

October 15, 2025
April Wind Couture

April Wind Couture thrives in Nigeria’s tough economy with bold Ankara vision

September 12, 2025
Abdul-Muiz Olanrewaju Animashaun

Abdul-Muiz Olanrewaju Animashaun remembered with love

September 14, 2025
amoke

‘Meals by Amoke’ We serve traditional dishes in a modern way, Bukoye Fasola reveals

19
Image 2024 03 26 at 120645 AM jpeg

Charles Inojie, Ali Nuhu call on communities to #MakeWeHalla against domestic violence

11
Meran Primary Health Centre Lagos father Meran hospital

Lagos father shares heartbreaking experience at Meran Primary Health Centre (Photos)

4
fls2

‘Disarticulated system’ Gov’t confused about Nigerian education, expert laments

3
UBA Business Series

UBA Business Series empowers African entrepreneurs with digital strategy

October 28, 2025
FCCPC finds IKEDC guilty

FCCPC finds IKEDC guilty of corrupt overbilling

October 28, 2025
Nnamdi Kanu

Nnamdi Kanu insists there’s no case against him in terrorism trial

October 28, 2025
Boluwatife Balogun

Wizkid’s first son Boluwatife Balogun announces powerful music debut

October 28, 2025
October 2025
SMTWTFS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Sep    
Freelanews

Freelanews is a Nigerian digital news platform that delivers timely, credible, and engaging stories across politics, business, entertainment, lifestyle, and the creative industry, with a strong focus on promoting innovation, integrity, and inclusivity in storytelling.

Hot!

UBA Business Series

UBA Business Series empowers African entrepreneurs with digital strategy

October 28, 2025
FCCPC finds IKEDC guilty

FCCPC finds IKEDC guilty of corrupt overbilling

October 28, 2025
No Result
View All Result
  • About Us
  • Contact
  • Advertisement
  • Sitemap

© 2025 Freelanews | by Iretura.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • Home
  • News
    • Crime
  • Business
  • Brands
  • Banking
  • Opinion
  • Interview
  • Entertainment
  • Podcast
    • Àtẹ́lẹwọ́
  • Sports
  • Events

© 2025 Freelanews | by Iretura.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.