Nigeria will produce steel in three years, minister assures

Minister of Steel Development, Shuaibu Abubakar-Audu, has reaffirmed the government’s commitment to ensure the Ajaokuta Steel Company (ASC) starts production within the next three years. 

He also disclosed plans to establish a Free Trade Zone (FTZ) in the Ajaokuta area to attract foreign direct investment and diversify the country’s economy.

During a visit to the Ajaokuta Steel Company Limited (ASCL), Abubakar-Audu emphasized the importance of restarting production at the steel complex. He added that President Bola Tinubu has shown a keen interest in the revival of the steel industry and appointed him as the pioneer minister for steel development.

Abubakar-Audu also noted that if the ASC becomes operational, it could create over 500,000 jobs, significantly impacting poverty reduction in Nigeria.