The federal government has indicated plans to revive all moribund steel companies in the country, over two decades after failed attempts to privatise them.
President Bola Tinubu represented by vice president Kashim Shettima revealed the plan at the inaugural national steel stakeholders’ summit stating that the resuscitation of steel assets will contribute to national development as originally envisaged.
He declared that with the resuscitation of the companies, the country will produce 10 million tonnes of liquid steel annually by 2030 and create over 500,000 direct and indirect jobs.
He also announced that a final decision to determine the best deal on the Ajaokuta steel plant, following a comprehensive review, is expected to be taken very soon.
Recall in early 2,000, the privatisation policy of the government led to the sale of the Inland Rolling Mills at Oshogbo, Katsina and Jos, Delta Steel Company and Aluminium Smelter Company of Nigeria.