The Federal Government on Friday announced new efforts to revive the long-dormant Ajaokuta Steel Company—an asset seen as central to Nigeria’s industrial development and job creation plans.

As part of the renewed push, the government has opened high-level negotiations with major Chinese steel conglomerates to secure technical expertise, financial support, and strategic partnerships aimed at restoring the plant to full operational capacity.

The initiative is being championed by the Minister of Steel Development, Shuaibu Audu, who is currently leading a federal delegation to China as part of an investment drive aimed at attracting strategic investors and advancing Nigeria’s industrialisation agenda.

The delegation includes the Director-General of the Nigeria-China Strategic Partnership, Mr. Joseph Tegbe, along with senior officials from the Nigerian Embassy in Beijing. The team is holding high-level talks with leading Chinese steel conglomerates to secure technical expertise, financial support, and industrial partnerships for the full rehabilitation of the plant.

They have so far engaged with top executives from major Chinese steel producers, including Sino Steel (a Baowu Group subsidiary), Fangda Steel Group, and Jingye Steel Group.

According to a statement by the minister’s Special Assistant on Media, Lizzy Okoji, talks with the Chinese companies centered on technical assessments, operational model design, and financing structures required to revive Ajaokuta Steel—widely regarded as pivotal to Nigeria’s industrial and economic development.

Commenting on the ongoing mission, Audu reaffirmed that the revival of Ajaokuta Steel remains a central priority under President Bola Tinubu’s Renewed Hope agenda and is expected to be accomplished before the end of the current administration.

“Our objective is clear: to secure strong technical and financial partnerships that can help us bring Ajaokuta Steel back to life. The facility has immense potential to catalyse industrial growth, boost local manufacturing, and generate thousands of direct and indirect jobs for Nigerians.

“Talks also centred around technical evaluations, operational modelling, and financing frameworks required to restore the facility to full productivity,” the Minister stated.

Echoing similar sentiments, Mr Tegbe described the meetings as “a strategic move to align China’s vast industrial capabilities with Nigeria’s economic development goals.”

“This engagement highlights Nigeria’s seriousness in building transformative partnerships that will unlock long-term value across the manufacturing and infrastructure sectors,” he said.

The latest development comes as calls intensify for Nigeria to cut its reliance on steel imports and harness domestic capacity to boost infrastructure, automobile production, and construction.

Despite being conceived in the late 1970s, Ajaokuta Steel has remained largely idle for decades—hampered by policy inconsistencies, failed concessions, and chronic underinvestment.