Federal Government, yesterday, commenced discussions with Luan Steel Holding Group, a Chinese company, to establish a new steel plant in Nigeria to begin manufacturing of military hardware at the Ajaokuta Steel Plant.
The partnership between the government and Luan Group signifies commitment to revitalising the steel industry in Nigeria. The Minister of Steel Development, Shuaibu Abubakar Audu, in a statement by his Press and Public Relations aide, Salamatu Jibaniya, said the trip to China was one of the steps taken to realise the goals of reviving the Steel Industry in Nigeria in line with the Renewed Hope’ Agenda of President Bola Ahmed Tinubu.
He said: “We had very meaningful discussions with the Chairman of Luan Steel Holding Group, Mr Wang Jianbing; the Chief Executive Officer of the company, Mr Xiao Weizhan, and other senior executives of the Luan Steel Holding Group.
“Like several other international and local investors, Luan Steel Holding Group has indicated interest in setting up a new Steel Plant in Nigeria, as well as handling a component of the Ajaokuta Steel Plant for building military hardware in Nigeria.
Audu expressed optimism that commercial steel production at several government-owned entities in Nigeria will commence before the end of President Tinubu’s administration.
This achievement will mark a significant milestone in the country’s industrialisation efforts. He added: “The partnership with Luan Steel Holding Group demonstrates the government’s commitment to revitalising Nigeria’s steel industry. It is a step in the right direction, contributing to economic growth, job creation, and enhanced security for the nation.”
