As part of efforts to industrialise Nigeria through the steel industry, the federal government is in talks with renowned Chinese Company, Luan Steel Holding Group to build a new steel plant in Nigeria as well as a military hardware plant inside Ajaokuta steel plant.
This formed the crux of the visit by a delegation of the Minister of Steel Development, Prince Shuaibu Abubakar Audu, the Minister of Defence, Alhaji Mohammed Badaru, and the Permanent Secretary of the Ministry of Steel Development, Dr. Mary A Ogbe during their tour of Luan Steel Holding Group in Hefei and Guangzhou regions of China.
In a statement signed by Head, Press and Public Relations in Department in the Ministry of Steel Development, Salamatu F. Jibaniya Thursday, the trip to China is part of efforts to revive Nigeria’s steel industry in line with the Renewed Hope’ Agenda of President Bola Ahmed Tinubu.
The minister said “work has commenced to create an operational Steel Industry that would attract billions of dollars of foreign direct investments into the country, open up the nation’s economy, and create hundreds of thousands of job opportunities, which form the core of the renewed hope agenda.”
He further noted that building a military hardware in Ajaokuta steel plant is also timely, considering that Nigeria is faced with security challenges adding that, this would help in the fight against insecurity and terrorism.
“We had very meaningful discussions with the Chairman of Luan Steel Holding Group, Mr Wang Jianbing, and the Chief Executive Officer of the Company, Mr Xiao Weizhan, and other senior Executives of the Luan Steel Holding Group.
“Like several other international and local investors, Luan Steel Holding Group has indicated interest in setting up a new Steel Plant in Nigeria, as well as handling a component of the Ajaokuta steel plant for building military hardware in Nigeria.
“The Minister of Defence and I led this delegation, which includes the Permanent Secretary of the Ministry of Steel Development, Dr Mary Ogbe, Sole Administrator/Managing Director of Ajaokuta Steel Company, Mr Sumaila Abdul-Akaba, to enable us have a first-hand look at the Luan steel plants before arriving at a decision.”
He assured that with commitments on ground the country hopes to commence commercial steel production before the end of 2027.