The Federal Government of Nigeria, on Thursday, embarked on discussions with Luan Steel Holding Group, a well-known Chinese company, to establish a new steel plant in Nigeria to begin manufacturing military hardware at the Ajaokuta Steel Plant.
The partnership between the Federal Government and Luan Steel Holding Group signifies a commitment to revitalizing the steel industry in Nigeria.
Prince Audu in a statement by its Press & Public Relations Dept, Salamatu Jibaniya, said that the trip to China is one of the steps being taken to realize the goals of reviving the Steel Industry in Nigeria in line with the Renewed Hope’ Agenda of President Bola Ahmed Tinubu GCFR.
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 hardwares in Nigeria.
“The Minister of Defence and I led this delegation, which includes the Permanent Secretary of the Ministry of Steel Development, Dr Mary Ogbe, Sole Administrator/Managing Director of Ajaokuta Steel Company, Mr Sumaila Abdul-Akaba, to enable us have a first-hand look at the Luan steel plants before arriving at a decision.”
Prince 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 industrialization efforts.
He added that, “The partnership with Luan Steel Holding Group demonstrates the government’s commitment to revitalizing Nigeria’s steel industry. It is a step in the right direction, contributing to economic growth, job creation, and enhanced security for the nation.”
