By Abbas Nazil
The federal government has called for international support to revive the struggling steel industry in Nigeria, particularly the Ajaokuta Steel Company Limited (ASCL) and the National Iron Ore Mining Company (NIOMCO).
Minister of Steel Development, Prince Shuaibu Audu, made the appeal during a meeting in Abuja with representatives from the United Nations Industrial Development Organisation (UNIDO), the United Nations Development Programme (UNDP), and the Australian High Commission.
During the meeting, Audu emphasized the urgent need for technical and financial assistance to rejuvenate Nigeria’s steel sector.
He expressed his ministry’s commitment to rehabilitating government-owned steel assets to prepare them for privatization in a bid to enhance their infrastructural and operational capacities for higher competitiveness in the global market.
The minister stressed that the revitalization of ASCL and NIOMCO is central to the administration’s broader economic strategy.
A fully functional steel industry, he explained, would reduce Nigeria’s reliance on steel imports, boost local production, and generate foreign exchange.
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However, achieving these ambitious objectives requires significant technical expertise, financial resources, and strategic collaboration.
Audu urged international partners to play a crucial role in bridging the gap between the government’s vision and the reality of implementation.
He called on donor agencies to provide the necessary technical expertise, financial investments, and policy guidance to modernize Nigeria’s steel industry.
Audu pointed out that collaboration in this sector would not only improve steel production but also strengthen infrastructure, empower the workforce with essential skills, and enhance the regulatory environment.
He noted that donor support would help create a lasting impact on Nigeria’s industrial landscape, fostering job creation, innovation, and sustainable economic development.
In response, Dr. Osuji Otu, UNIDO’s Nigeria Country Representative, recognized the strategic importance of the ministry’s initiative in promoting industrialization.
He assured the government that UNIDO would soon introduce its 2024–2028 country partnership programme to support Nigeria’s steel industry.
Similarly, representatives from UNDP and the Australian High Commission pledged their commitment to providing technical assistance and expertise to the ministry’s projects.
