Minister of Steel Development Shuaibu Audu has revealed why the Ajaokuta Steel Complex has not been up and running.
According to him, things have not gone as planned, as the federal government has found it difficult to find a technical partner whose terms of agreement would meet the interests of Nigerians.
Audu spoke in Abuja at the Ministerial Sectoral Updates as part of activities to mark President Bola Ahmed Tinubu’s one year in office.
The first session of the Sectoral Briefing was attended by the Minister of Budget and National Planning, Senator Atiku Bagudu; Minister of FCT, Mr Nyesom Wike; Minister of Youth Development, Dr Jamila Ibrahim Bio; Minister of State for FCT, Dr Mariya Mahmud; Minister of State for Petroleum, Senator Heineken Lokpobiri; and Minister of State for Youth Development, Mr Ayodele Olawande
Audu said: “Ajaokuta Steel Complex was 98 per cent completed in 1994, which was about 30 years ago. Since then, there’s been a lot going on in terms of trying to make the complex working and concessioned to a technical partner that has the expertise but that hasn’t panned out as planned because some of the terms of the agreement on which it was done are not in the best interest of Nigerians.
“The complex is unlikely to be 98 percent complete as of today since nothing has been done in the last 30 years. Today, a lot of work is required to get it up and running. It’s a challenging industry and the task at hand is difficult.”
Why production at Ajaokuta Steel Complex is yet to kick off – Minister