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After 47 Years of Failure: Minister Blames Cabal, Funding Gap as FG Eyes China to Revive Ajaokuta Steel Dream

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Minister for Steel Development, Mr. Shuaibu Abubakar Audu, says a huge funding gap of about N3 trillion and a cabal working against Nigeria’s dream have been holding back Nigeria’s steel development.

For 47 years, the Ajaokuta Steel Company has stood as Nigeria’s abandoned industrial dream. Billions of naira have been sunk into it, yet the plant has yet to produce a single sheet of steel.

The Minister made a startling admission: a powerful “cabal” is actively holding back the project, working in concert with years of poor funding from successive governments to keep the dream in limbo.

Asked to explain how the cabal is being dealt with, the Minister explained that those involved in the importation of steel into Nigeria are doing everything to frustrate the government including blocking moves to amend relevant laws in the National Assembly.

The Minister, who spoke on a Podcast interview, Deep Insight with Agbonsuremi, said the lack of political will and consistent low budgetary allocation have been as damaging as the sabotage by vested interests who benefit from Nigeria’s continued dependence on imported steel.

Ajaokuta was conceived in the 1970s to drive industrialization and steel sufficiency, but decades of neglect, contract disputes, and alleged sabotage have left it at less than 10% completion. The result: Nigeria imports over $4 billion worth of steel annually.

In what may signal a new chapter, Shuaibu Abubakar Audu said it is now “hopeful” of sealing a deal with China to revive and complete the plant. He believes a partnership with Chinese investors and technical partners could unlock funding, technology, and the political backing needed to finally deliver on the promise of Ajaokuta.

The Minister said the Ajaokuta Steel Complex will commence commercial production by 2028 if the Federal Government concludes its ongoing negotiations with a Chinese investor this year; arguing the company can be fully revived if President Bola Tinubu is re-elected.

Audu disclosed that the Chinese investor was considering committing between $1.5bn and $2bn to revive the long-abandoned steel complex in Kogi State.

According to him, the investment will come through a combination of cash and equipment, while the Federal Government is considering a production-sharing arrangement that would allow the investor to recover its investment before ownership eventually reverts to the government.

The minister said the government had decided against injecting public funds into Ajaokuta because about N3tn is required to revive the complex, while its 2025 budgetary allocation was only N500m, with N50m earmarked for capital expenditure.

Ajaokuta Steel Complex, which was about 98 percent complete in the early 1980s, has suffered decades of neglect, abandoned contracts, legal disputes and alleged asset stripping.

Audu revealed that “an ongoing technical and financial audit would determine the exact state of the complex, but estimated that about 70 percent remains useful, with the remaining 30 percent requiring significant upgrading”.

He explained that the Federal Government initially negotiated with Russian equipment manufacturers but had to shift its focus to China following the Russia-Ukraine war.

The minister also disclosed that the government had signed a 20-year gas supply agreement with the Nigerian National Petroleum Company Limited to provide gas to Ajaokuta, making the project more attractive to investors.

He said the government had also signed an agreement with the Ministry of Defence and Defence Industries Corporation of Nigeria to use part of the Ajaokuta complex for the production of military hardware, including helmets, bulletproof vests and ammunition.

Audu also argued that President Tinubu would require a second term to consolidate the reforms and achieve the administration’s long-term economic objectives.

“We are hoping, praying, that the President gets a second term so that we can have a 2030 $1tn economy,” he said.

He urged Nigerians to support Tinubu’s re-election, saying continuity was necessary to consolidate the reforms and complete major projects such as Ajaokuta.

$4bn steel imports
Audu said Nigeria currently imports about $4bn worth of steel annually, warning that beneficiaries of the import business could resist efforts to establish a strong domestic steel industry.

“The people that are benefiting from imports of $4bn in terms of iron and steel annually would fight tooth and nail to prevent the local industry from kick-starting”.

Asked whether such interests had attempted to frustrate his ministry, he said there had been constant efforts to make the government’s work difficult.

He said the steel sector could contribute about $100bn to Nigeria’s economy if Ajaokuta and other major steel facilities operate at full capacity.

According to him, the revival of Ajaokuta, Delta Steel and other facilities could create between 500,000 and one million jobs, while Nigeria’s estimated three billion metric tonnes of iron ore deposits in Kogi State provide a strong foundation for local steel production.

The minister expressed confidence that President Bola Tinubu’s $1tn economy target by 2030 is achievable, but argued that the administration would require a second term to consolidate its economic reforms.

He said Nigerians should expect three major outcomes from his ministry: the signing of an agreement to revive Ajaokuta, the revival of Delta Steel, and implementation of a 10-year blueprint for the wider development of Nigeria’s steel industry.

Audu said he remained confident of delivering on the assignment, adding, “Absolutely, I believe I can do it. And I believe that I will do it.”

Deep Insight With Agbonsuremi is a Podcast anchored by veteran journalist and broadcaster, Augustine Okhiria Agbonsuremi.

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‘Ombugadu Is a Brand, Not a Title’ — PDP Chieftain

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By Emmanuel Kuza

A chieftain of the Peoples Democratic Party (PDP) in Nasarawa State, Abuga Ovie, has described the name Ombugadu as a political brand, saying the popularity and wide acceptance of the name have made David Emmanuel Ombugadu a major force in the state’s political landscape.

Ovie, who stated this in an interview on Tuesday, said what started as opposition from some of Ombugadu’s biological brothers and people he described as fathers and uncles who betrayed him for personal political interests had now assumed a wider dimension, with political parties allegedly joining the battle against him.

According to him, the latest development was an attempt to undermine the political value of the Ombugadu name by presenting another person with the same surname, describing it as an indication of how far some political actors were prepared to go to weaken the PDP governorship candidate.

“Ombugadu is a brand, not a title. The people are not fools. They know their own. You cannot simply bring another person bearing the same name and expect the people to forget the political identity that Ombugadu has built over the years,” he said.

He further alleged that a former governor was working to introduce a political associate who had served as Accountant-General of Nasarawa State into the political equation, with the alleged objective of destabilising the PDP and weakening its chances by ensuring that the party fields a less competitive candidate in 2027.

“The plan, as we understand it, is to destabilise the PDP and make sure the party presents a weak candidate, thereby creating an advantage for the former governor’s preferred candidate. But all those efforts have proved abortive because the national leadership of the PDP stood its ground and refused to lose its best bet for the 2027 governorship election,” Ovie said.

The PDP chieftain said the resolve of the national leadership to retain Ombugadu had demonstrated the confidence the party had in his capacity to win the governorship election, despite what he described as attempts by some political actors to frustrate his ambition.

Ovie urged political parties and their leaders to resolve their internal differences instead of concentrating their efforts on Ombugadu, whom he compared to David in the Bible, saying he remained focused despite betrayal and opposition from those close to him.

“Ombugadu is like David in the Bible. Even when his brothers forsook him, he remained focused. Today, despite the people who have betrayed him, he remains focused and has a blueprint that can rescue Nasarawa State,” he said.

He said political parties should concentrate on presenting their programmes and convincing voters about how they intend to address the challenges confronting the state rather than expending their energy on attempts to stop Ombugadu.

“Political parties should fix their problems instead of wasting their strength fighting Ombugadu. Let everybody bring their blueprint before the people and explain what they intend to do for Nasarawa State,” he said.

Ovie maintained that the 2027 election should be about ideas, competence and the future of Nasarawa State, rather than attempts to manipulate political structures or undermine individuals perceived to enjoy strong grassroots support.

He urged the people of the state, particularly the Eggon community, to remain politically vigilant and resist what he described as efforts to make them settle for less, insisting that voters would ultimately determine who enjoys their confidence at the polls.
Reduce repeated references to Ombugadu

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200 widows benefit from empowerment outreach in Plateau

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By Israel Adamu, Jos 

 Two hundred widows from communities across Langtang North Central State Constituency of Plateau State have benefited from an empowerment outreach organised by Gimbiya Gani Nandir Lar under the Jagoran Talakawa movement.

The outreach, held at Pilgani in Langtang North Local Government Area, was aimed at supporting vulnerable women and drawing attention to the challenges faced by widows, particularly those struggling to provide food, pay school fees and meet other basic needs for their families.

The organiser, Nandir Lar, who is the All Progressives Congress, APC, candidate for Langtang North Central State Constituency, said the gesture was motivated by compassion and concern for vulnerable members of the society.

She stressed that the outreach was not a political programme but an expression of love and support for humanity.

Nandir Lar said: “The plight of widows may not always make headlines, but their struggles are real, painful and deserving of our collective attention.

“This is simply an expression of compassion and love for humanity. It is not a political programme.

“Our constituency is home to people with diverse needs, including mothers, widows and young people who are seeking opportunities to improve their lives.”

Former Provost of the Federal College of Education, Pankshin, Amos Chirfat, commended the initiative, saying it had brought smiles to the faces of vulnerable women in the constituency.

Minority Leader of the Langtang North Legislative Council, Dirya Sheni, also commended Nandir Lar for supporting widows and other vulnerable members of the community.

At the end of the outreach, each of the 200 beneficiaries received a 10-kilogramme bag of corn flour, seasoning and N10,000 cash

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SCUML, REDAN Strengthen Collaboration on Anti -Money Laundering Compliance

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By Francis Wilfred 

The Special Control Unit against Money Laundering (SCUML), and the Real Estate Developers Association of Nigeria (REDAN) have expressed commitment to ensure a full compliance with the Anti Money Laundering/Counter Finance on Terrorism/Counter Proliferation Financing, (AML/CFT/CPF) laws within the Nigeria’s real estate sector.

They made the resolve during a stakeholders’ engagement held on Thursday, September 10, 2026

The engagement focused on Mutual Evaluation readiness, risk-based supervision, beneficial ownership transparency, customer due diligence, internal controls and stronger collaboration between SCUML and the real estate sector.

Assistant Commander of the EFCC, ACE 1 Ibinabo Amachree, speaking on behalf of SCUML highlighted the strategic role of real estate operators in protecting the integrity of Nigeria’s financial system, particularly given the sector’s vulnerability to money laundering and other financial crime risks.

Amachree encouraged REDAN members to move beyond registration to ensure that compliance is embedded in their day-to-day operations. He mentioned the areas to include: understanding institutional risks, knowing customers and beneficial owners, identifying politically exposed persons, conducting appropriate sanctions screening, maintaining effective internal controls and meeting applicable reporting obligations

He, therefore, reaffirmed readiness to working closely with REDAN and other stakeholders to improve compliance, build capacity and promote a stronger culture of accountability across the real estate sector

“The message is clear: effective compliance is not just about meeting regulatory requirements; it is about protecting businesses, strengthening the real estate sector and safeguarding the integrity of Nigeria’s financial system”, she said.

In his remarks, the Chairman of REDAN, Lagos state, Mr Tony Kolawole pledged readiness to partner with SCUML in ensuring compliance with AML/CFT/CPF in the real estate sector to uphold financial integrity.

The engagement also provided an opportunity for REDAN members to share practical regulatory and operational challenges affecting the sector, reinforcing the importance of continuous dialogue between regulators and industry stakeholders.

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