President Bola Tinubu has declared that Nigeria will become a steel powerhouse by 2030, producing 10 million tonnes of liquid steel.
Gatekeepers News reports that Tinubu made this declaration at the inaugural stakeholders summit on the development of the steel sector in Nigeria.
According to Tinubu, “We are now ready to make that dream a reality. We are not here to mourn missed opportunities. We are here to make the future.”
He emphasised that his administration has set up a robust framework to drive the sector as an engine for national growth.
The President highlighted efforts to transform the sector, including the signing of a memorandum of understanding (MoU) with Tyazhpromexport (TPE) and its consortium to rehabilitate and operate the Ajaokuta Steel Company and the National Iron Ore Mining Company in Itakpe.
Tinubu also mentioned the launch of the construction of five mini-LNG plants in Ajaokuta, valued at over $500 million, and an agreement with the Ministry of Defence and the Defence Industries Corporation of Nigeria to produce military hardware at the Ajaokuta Engineering Workshop.
The President stated that his administration aims to create over 500,000 jobs and operationalise Ajaokuta within three years.
“We have already developed a ten-year roadmap for the sector. We have outlined a three-year plan for the operationalisation of Ajaokuta,” he said.
Tinubu implored the private sector to join hands with the government in revamping the sector, saying, “The government cannot actualise the plan alone.”
