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.
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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.
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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
Ojelabi, the publisher of Freelanews, is an award winning and professionally trained mass communicator and a recipient of the D9112 Superstar Icon Award, who writes ruthlessly about pop culture, religion, politics and entertainment.
