FG Aims To Create 500,000 Employment And Attract Foreign Direct Investment With The Ajaokuta Industrial Park

The Federal Government's strategy to have the projected Ajaokuta Industrial Park attract foreign direct investment and create 500,000 jobs in three years was made public by the Minister of Steel Development, Prince Shuaibu Abubakar Audu.

Audu made this disclosure on Wednesday, while conducting a tour of the steel complex. This was his first time visiting the Ajaokuta Steel Company Limited (ASCOL).

Additionally, he vowed to guarantee steel output from the Federal Government's multi-billion dollar investment initiative over the course of a three-year plan.

The Minister said the tour was meant to give him first-hand information of the issues halting production in the company in an effort to suggest answers. He was joined on the trip by the Permanent Secretary of the Ministry, Dr. Mary Ogbe, ministry personnel, and some international investors.

He said that by designating him as the pioneer Minister to demonstrate to the world the significance of steel development to industrialization, President Bola Ahmed Tinubu had taken an interest in the revival of the steel complex.

"We want to thank the President, Bola Ahmed Tinubu, for having the vision to create a Steel Development Ministry. Over the past 40 years, we had the largest steel plant in Nigeria and one of the largest in West Africa, which has not functioned. Still, the President knows that we must get the steel industry working to industrialize Nigeria.

"In line with the 8-point agenda of the 'Renewed Hope mantra' of President Bola Ahmed Tinubu, one of the key elements are job creation, diversification of the economy and attracting Foreign Direct Investment. If we can revitalize Ajaokuta, it will help us achieve this. This key point agenda will also help us eradicate poverty.

"To achieve this, we have put together two documents. A three-year plan for the revival of Ajaokuta Steel Company, which will have a small and medium-term term plan.

"Part of the things is the roadmap to designate the 24,000 hectares land of Ajaokuta an industrial park, to create a free trade zone to attract Foreign Direct Investment further.

"My job is to try and ensure that all those typical issues that have held the plant from producing will be resolved. And by the first term of this administration, if we can produce some sheet of steel, it will be a significant achievement.

"I have taken an extensive tour of the complex and plants, and there are lots of opportunities that if we can unlock, we will be able to create over 500,000 jobs, which will benefit kogites a bit more importantly, Nigerians. This will also guarantee that everyone benefits from the renewed hope agenda of President Bola Ahmed Tinubu.

"I have taken an extensive tour of the complex and plants, and there are lots of opportunities that if we can unlock, we will be able to create over 500,000 jobs, which will benefit kogites a bit more importantly, Nigerians. This will also guarantee that everyone benefits from the renewed hope agenda of President Bola Ahmed Tinubu.

"I am being accompanied here today by investors ready to put their expertise to ensure this steel company works.

"We have the Russians, Americans, Arabs and Chinese who are interested. They have come to show their desire to conduct an advanced technical audit to see what needs to be completed.

"After my findings from here, we will forward everything to Mr President for approval," Audu said.