The Federal Government has “restated its commitment to resuscitate the Ajaokuta Steel Company Limited (ASCL),” despite recent doubts from Dangote Group Chairman, Aliko Dangote.
Prince Shuaibu Abubaker, the Minister of Steel Development, provided the assurance in a statement on Thursday.
At a recent event, Mr. Dangote said that while a steel industry is vital for a nation’s growth, he doubted Ajaokuta “would not work due to changes in technology.”
He also expressed skepticism about the company’s ability to be “optimal in its production.”
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The minister noted these concerns but said the Federal Government remained committed to the development of Nigeria’s steel sector including the resuscitation of ASCL.
The minister explained that a “comprehensive technical and financial audit of the plant is presently underway.”
He said this would ensure that any decision is “transparent, data-driven and in the best interest of Nigeria.”
According to Prince Abubaker, an “overall assessment of the previous technical audit report dated 2018, maintained that the general status of the Steel Plant is in robust condition.”
That report, however, noted the “deterioration of replaceable parts and recommended automation of manual control systems for improved efficiency.”
The minister said the ministry is confident the updated audit will “provide a sound basis for decisive action that advances Nigeria’s industrial aspirations.”
He assured that the Federal Government is determined to build a “competitive and modern steel industry.”
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