Natasha Akpoti-Uduaghan, chairman senate committee on local content, says plans are underway to kick-start the revitalisation of the Ajaokuta Steel Company plants in the first quarter (Q1) of 2025.
In September, Shuaibu Audu, minister of steel development, signed a memorandum of understanding (MoU) with the builders of the Ajaokuta steel plant, Messrs Tyazhpromexport (TPE), for the rehabilitation, completion, and operation of the plant and the National Iron Ore Mining Company (NIOMCO).
Speaking on Tuesday at the ongoing Practical Nigerian Content Forum organised by the Nigerian Content Development and Monitoring Board (NCDMB) in Bayelsa state, Akpoti-Uduaghan said the federal government has located the main constructors of the steel to revamp it and keep it running.
She assured that work would commence on the steel company next year.
“I would like to give credit to the president, who has committed extensive political will in ensuring that the Ajaokuta Steel Company has been connected with the original builders,” Akpoti-Uduaghan said.
“A certain number of MoUs and agreements have been undertaken, and in the first quarter of next year, we are hoping that the Tyajz Prom Export, who are the original builders of the plant, will be on the ground to kick-start the revitalisation of the steel plant.
“That means we are setting ourselves, our country, strategically to begin to manufacture the core components and machines that are utilised in the oil and gas sector.”
The senator further said for every deep water operation, rigs are utilised and the cheapest rig stands at about $10 million while some go as much as $25 million.
“And what actually makes up a rig? Steel. So, just imagine, count how many rigs you have in Nigerian waters. Imagine if we had those rigs manufactured in-country,” she said.
“That means we would have saved so much money and we would have created so many jobs.”
Akpoti-Uduaghan also said breaking new frontiers requires both strategic vision and boldness, adding that the journey ahead may be challenging, but “it is essential”.
