The Federal Government is collaborating with the Luan Steel Holding Group, a Chinese company, to construct a new steel plant in Nigeria.
Additionally, the partnership aims to initiate the manufacturing of military hardware within the Ajaokuta Steel Plant.
The Head of the Press and Public Relations Department at the Ministry of Steel Development, Salamatu Jibaniya, disclosed this information in a statement.
According to Jibaniya, the Minister of Steel Development, Prince Shuaibu Audu, the Minister of Defence, Alhaji Mohammed Badaru, and the Permanent Secretary of the Ministry of Steel Development, Mary Ogbe, formed a delegation that visited the Luan Steel Holding Group in the Hefei and Guangzhou Regions of China.
Jibaniya highlighted that Prince Audu stressed the significance of this visit in realizing the objectives of reviving Nigeria’s steel industry, aligning with President Bola Tinubu’s Renewed Hope Agenda.
The minister emphasized the ongoing efforts to establish a functioning steel industry, attract substantial foreign direct investments, stimulate the country’s economy, and generate hundreds of thousands of job opportunities – pivotal aspects of the renewed hope agenda.
Furthermore, Prince Audu pointed out the timely nature of producing military hardware at the Ajaokuta Steel Plant, citing Nigeria’s prevalent security challenges. He emphasized that this strategic move would contribute significantly to combating insecurity and terrorism.
During the visit, discussions with Luan Steel Holding Group’s Chairman, Mr. Wang Jianbing, CEO Mr. Xiao Weizhan, and other high-ranking executives focused on their interest in establishing a new steel plant in Nigeria. Additionally, there was a consideration for managing a section of the Ajaokuta Steel Plant dedicated to manufacturing military hardware within Nigeria.
The delegation, led by the Minister of Defence and the Permanent Secretary of the Ministry of Steel Development, including the Sole Administrator/Managing Director of Ajaokuta Steel Company, aimed to gain firsthand insights into Luan steel plants to facilitate informed decisions.
The optimistic outlook is that before the conclusion of President Tinubu’s administration, commercial steel production will commence in some of the government-owned entities in Nigeria, based on the commitments and discussions held during this visit.