It’ll cost Nigeria mere $2 to $5 billion to revive moribund Ajaokuta Steel Mill — Minister of Steel Development

It’ll cost Nigeria mere $2 to $5 billion to revive moribund Ajaokuta Steel Mill — Minister of Steel Development

The Minister of Steel Development, Shuaibu Audu has stated that reviving the Ajaokuta steel mill will cost something in the range of $2 billion to $5 billion, NairaMetrics is reporting

He stated this during his visit to the Governor of Plateau state, as part of visit to the National Metallurgical Development Centre

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According to the him, the huge sum required to revive the company was responsible for the government’s piecemeal approach towards getting the plant to work.

He said, “But this administration, under the Renewed Hope mantra of the President has demonstrated the political will to revive the steel plant to promote development in the nation.

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We are looking for one that has the expertise, in terms of steel production so that the facility can start to produce once again. It will cost us between 2 to 5 billion dollars to revive the Ajaokuta steel mill, hence we are using a piecemeal approach.

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