Federal Government aims to resuscitate all inactive steel companies to boost industrial growth, create over 500,000 jobs, and reduce the \$4.5 billion annual steel import bill.
At the National Steel Stakeholders’ Summit, President Bola Tinubu, represented by VP Kashim Shettima, outlined plans including:
Reviving Ajaokuta Steel and Itakpe Iron Ore plants through audits and potential partnerships with Russian or Chinese firms.
Rehabilitating privatised assets like Delta Steel and Aluminium Smelter Company.
Provide New projects like the \$500m mini-LNG plants in Ajaokuta, military hardware production, an industrial park, and a \$400m Stellar Steel plant in Ogun.
Developing a scrap aggregation policy and new metallurgical industry laws.
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