The Federal Government of Nigeria has entered discussions with Luan Steel Holding Group, a prominent Chinese company, to collaborate on constructing a new Steel Plant in Nigeria and commencing the manufacturing of military hardware at the Ajaokuta Steel Plant. This initiative is in line with the government’s commitment to industrialize Nigeria through the steel industry.
Led by the Minister of Steel Development, Prince Shuaibu Abubakar Audu, along with the Minister of Defence, Alhaji Mohammed Badaru, and the Permanent Secretary of the Ministry of Steel Development, Dr. Mary A Ogbe, the delegation visited Luan Steel Holding Group in Hefei and Guangzhou Regions of China.
Prince Audu highlighted that this move is aligned with the goal of revitalizing the Steel Industry in Nigeria, as part of President Bola Ahmed Tinubu’s “Renewed Hope” Agenda. The objective is to attract significant foreign direct investments, stimulate the nation’s economy, and generate job opportunities.
The decision to explore the production of military hardware at the Ajaokuta Steel Plant is seen as a strategic response to Nigeria’s security challenges, contributing to efforts against insecurity and terrorism.
Discussions with Luan Steel Holding Group’s leadership, including Chairman Mr. Wang Jianbing and CEO Mr. Xiao Weizhan, focused on the establishment of a new Steel Plant in Nigeria and Luan Steel’s involvement in producing military equipment at Ajaokuta Steel Plant.
Prince Audu expressed confidence in the commitments made during the discussions, stating, “With all the commitments on the ground, we are confident that before the end of President Tinubu’s administration, we will commence commercial Steel Production in some of the government-owned entities in Nigeria.”
