Nigeria’s Minister of Steel Development, Prince Shuiabu Abubakar, announced that the ministry is exploring a partnership with the Republic of China to revitalize the Ajaokuta Steel Company Limited and the National Iron Ore Mining Company. This initiative follows a September 2024 Memorandum of Understanding signed by the Federal Government with Russia’s Tyazhmashpromexport to rehabilitate and operate the plants. However, progress has been hindered by the Russia‑Ukraine war, prompting the ministry to seek alternative partners.
Speaking at the 10th edition of Nigeria’s Mining Week, themed “Nigeria Mining: From Progress to Global Relevance,” Mr. Abubakar highlighted the constraints caused by the ongoing conflict and reaffirmed President Bola Tinubu’s commitment to ending the nearly five‑decade stagnation of the steel company. He also noted that advanced discussions are underway with the Ministry of Defence and the Defence Industries Corporation of Nigeria to begin producing input materials for military hardware—such as rifles, vests, and helmets—at the Ajaokuta Steel Complex, a move intended to bolster the defense sector and enhance national security.
The National Steel Raw Materials Exploration Agency has identified twelve iron‑ore deposits across the country, each at different stages of exploration. The agency is working to generate the necessary resource data to attract investment in iron ore, cokeable coal, and bauxite. Minister Abubakar urged private‑sector participants to invest in the steel raw‑materials value chain, emphasizing the economic benefits of local steel production and the importance of a sustainable supply of mineral raw materials for industry growth. He stressed that such development would draw increased foreign direct investment.
The Federal Government remains committed to providing an enabling environment for the development of strategic minerals such as iron ore, fluxes, and coal. With the top management of the Ministry of Steel Development and industry players present at the conference, the government is poised to reposition Nigeria’s steel industry for sustainable growth.
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