The Senate committee, led by Senator Adeniyi Adegbonmire, has vowed to revive the Ajaokuta Steel Company, which has remained non-operational since its establishment decades ago.
During a meeting with the company’s workers and management, Adegbonmire stated, “The committee is here at the steel plant with a firm commitment to uncover why the Ajaokuta steel plant remains non-operational… Our mission is to break the jinx and ensure the steel plant becomes operational.”
Acting Chief Executive Kanwai Joseph welcomed the committee’s interest, ensuring transparency and accountability.
“We recognise the trust placed in us to manage national assets… We strive to operate with integrity, preserve this significant government investment, and deliver quality products when in operation.”
The Ajaokuta Integrated Steel Complex, conceived in 1979, aimed to stimulate industrial and economic activities through its Metallurgical Process Plant, Engineering Complex, and auxiliary facilities. However, despite receiving N38.9 billion in salaries and allowances over 10 years, the company hasn’t produced a single sheet of steel.
Recently, the Federal Government signed a Memorandum of Understanding with Messrs Tyazhpromexport for the rehabilitation, completion, and operation of the plant and the National Iron Ore Mining Company.
President Bola Ahmed Tinubu established a five-man Ministerial committee to revive the Ajaokuta steel mill, which is expected to create 500,000 jobs.
The Minister of Steel Development, Shuaibu Audu, also met with Lu’an Steel Company, which agreed to set up a new steel plant in Nigeria, producing 20 million metric tons of steel per annum.
