The Minister of Steel Development, Shuaibu Audu, had stressed the need to resuscitate the Ajaokuta Steel Company.
During a press briefing in Abuja on Monday, Audu affirmed his commitment to restoring the moribund steel plant.
According to him, he will set a roadmap for the development of the steel sector, aggressively pursue the completion of Ajaokuta steel, and enact required bills to regulate the steel sector, among others.
He explained that past leaders recognized the importance of steel development but lacked the political will to achieve its objectives.
Between 2016 and 2023, a total of N29.35bn has been allocated to cover personnel costs for the Ajaokuta Steel Complex.
Despite the regular budget, the steel company is yet to commence full operations in over 42 years, with the government making failed attempts at privatization and concession.
Speaking further at the press briefing, Audu disclosed that the creation of the new ministry underscored President Bola Tinubu’s mandate in pursuing the nation’s overall development.
In his remarks, Minister of Solid Minerals, Dele Alake, charged the staff members to be result-oriented in order to achieve the presidential mandate for the sector.
According to him, the oil-producing industry, which has been a significant source of foreign exchange for the government, has been on a downward trend.
He added that he had a roadmap, which would be unveiled in the days ahead for the sector
