Minister of Works, David Umahi and his Steel Development counterpart, Shuaib Audu, have resolved to maximise the opportunities in Ajaokuta Steel plant for development of road infrastructure in Nigeria.

The resolution was contained in a statement issued by Umahi’s Chief Press Secretary, Orji Uchenna Orji after the inter-ministerial meeting in Abuja.

Umahi was quoted as noting that the Ministry of Steel Development would play a major role in the road infrastructure revolution plan envisioned by President Bola Tinubu, by providing more than 16 per cent of materials for construction of the nation’s highways in concrete pavement.

He submitted that tapping into the opportunities in the steel industry would not only create jobs and wealth for the population, but also create a global market and encourage industrialisation.

His words: “How do we reactivate Ajaokuta Steel? We are going into concrete roads with about 16 per cent of them from steel, while 30 per cent is cement. We need a lot of money to start, but we decided to face it and God has given us an idea. We need about $35 billion to start. If we start waiting for the Federal Government, it might become difficult.

“We did Return On Investment (ROI). The profit we could have made, part of it will go to bank interest. We are looking at commercial banks, but the Federal Executive Council has to endorse it. If this could be done, it means Mr President is actually living to his words, and this is going to be possible.”

On his part, Audu, highlighted implementation of the Renewed Hope Agenda of the current administration.

He hinted that the partnership would boost the economy via revenue generation and employment.