The Nigerian government has initiated discussions with the prominent Chinese company, Luan Steel Holding Group, to establish a new Steel Plant in Nigeria and embark on the production of military hardware at the Ajaokuta Steel Plant.
The Minister of Steel Development, Prince Shuaibu Abubakar Audu, revealed this development after a tour alongside Minister of Defense, Badaru Abubakar, at Luan Steel Holding Group’s facilities in Hefei and Guangzhou regions of China. This strategic move aligns with Nigeria’s efforts to industrialize and revive the steel industry, as outlined in the ‘Renewed Hope’ Agenda spearheaded by President Bola Ahmed Tinubu.
In a statement by Salamatu Jibaniya, Head of Press & Public Relations, Prince Audu emphasized that the visit to China represents a crucial step toward realizing the goals of attracting foreign direct investments worth billions of dollars, fostering economic growth, and generating hundreds of thousands of job opportunities—an integral part of the Renewed Hope Agenda.
Prince Audu highlighted the commencement of efforts to establish a fully operational steel industry, leveraging international partnerships. He underscored the significance of building military hardware at the Ajaokuta Steel Plant, especially in light of Nigeria’s prevailing security challenges. Prince Audu expressed confidence that this initiative would contribute substantially to the nation’s fight against insecurity and terrorism.
During the visit, meaningful discussions took place with key figures from Luan Steel Holding Group, including Chairman Mr. Wang Jianbing and CEO Mr. Xiao Weizhan, among other senior executives. Luan Steel Holding Group, like several other international and local investors, has signaled its interest in not only setting up a new Steel Plant in Nigeria but also participating in the Ajaokuta Steel Plant’s component dedicated to manufacturing military hardware in the country.
The high-level delegation, led by the Minister of Defence and Minister of Steel Development, included Dr. Mary Ogbe, the Permanent Secretary of the Ministry of Steel Development, and Mr. Sumaila Abdul-Akaba, the Sole Administrator/Managing Director of Ajaokuta Steel Company.
The visit aimed to provide the delegation with a firsthand look at Luan Steel plants, facilitating informed decisions on these transformative initiatives.