Minister of Steel Development, Shuaibu Abubakar-Audu, has reiterated government’s commitment to ensure the production of steel from the multi-billion dollar Ajaokuta Steel Company (ASC) starts operation in the next three years.

He also revealed the government’s plan to make the Ajaokuta area a Free Trade Zone (FTZ) to attract Foreign Direct Investment (FDI) and diversify the country’s economy.

Abubakar-Audu disclosed this at his maiden tour of the Ajaokuta Steel Company Limited (ASCL) on Wednesday.

The minister was accompanied on the trip by the Permanent Secretary of the Ministry, Dr. Mary Ogbe, staff of the ministry and foreign investors

He said the visit was aimed at getting first-hand knowledge of the problems stopping production in the company in a bid to proffer solutions.

According to him, President Bola Tinubu has also taken interest in the resuscitation of the steel complex by appointing him as pioneer minister on steel development to show the world the importance of steel development to industrialisation.

ASC, if operational, he added, would create over 500,000 jobs, enough to lift Nigerians out of poverty.

“We thank President Tinubu for having the vision to create a steel development ministry. Over the past 40 years, the largest steel plant in Nigeria and one of the largest in West Africa has not functioned.

“But the President knows that to industrialise Nigeria, we have to get the steel industry working,” he said.

Some of the key elements of the ‘Renewed Hope’ agenda are job creation, diversification of the economy and FDI, he added.

“If we are able to revitalise Ajaokuta, it will help us achieve this. This agenda will also help us eradicate poverty. To achieve this, we have put together two documents: a three-year plan for the revival of ASC, which will have a small and medium term plan.”

“Part of the things is the roadmap to designate the 24,000 hectares land of Ajaokuta as an industrial park, to create FTZ that will further attract FDI,” he said.

Sole Administration/Chief Executive Officer of ASC, Sumaila Abdul-Akaba, thanked the President for reviving the hope of Nigerians by making Ajaokuta a priority again.

Jalil Hkoodshoev from Novostal-M Company in Russia lauded the initiatives of Tinubu to revive the company.