Ajaokuta steel, NIOMCO key to economic diversification

The Permanent Secretary, Ministry of Mines and Steel Development, Dr. Oluwatoyin Akinlade, has described Ajaokuta Steel Company Limited and National Iron Ore Mining Company Limited (NIOMCO) as essential components of the effort to diversify the economy, saying the two assets must be resuscitated to support industrial growth.

Akinlade said this during a visit, commending the management of the companies for their passion and commitment toward keeping the assets in good shape and the environment habitable despite the daunting challenges.

The permanent secretary reiterated the Federal Government’s commitment to resuscitating both companies, saying the ministry is working towards seeing the two companies start full operations.

She described Ajaokuta without NIOMCO as a “car without tyres” hence efforts are being made to resuscitate both companies to achieve the desired result.

“In October 2019 in Sochi, Russia, President Muhammadu Buhari, entered a Memorandum of Understanding (MoU) with President Vladimir Putin of Russian Federation on resuscitation and completion of Ajaokuta Steel,” she recalled.

She hinted that a technical audit of the installed equipment was one of the action plans, urging the staff to sharpen their skills and maintain good industrial harmony as they prepare for the task ahead.