Ajaokuta Steel Company, which was designed to produce 5.2 million tonnes of various types of steel products, has suffered a lot of setbacks over the years. Developed by the Russians in 1979, and reported to have gulped over $8bn over the years, the steel company is projected to generate over 500,000 jobs and equally generate high revenue for Kogi State, the Federal Government, and the entire country yearly.
The efforts of many advocates for the rejuvenation of the company over time have not yielded the desired results. In fact, it later became a veritable campaign tool for many politicians at all levels, and the Federal Government yearly assigned to the company, budget for personnel and overhead costs for producing nothing.
Thanks to President Bola Tinubu for the creation of the Federal Ministry of Steel as a separate entity to care for the issues of steel development in Nigeria, and the appointment of Mr Shuaibu Audu from Kogi State as Minister of Steel Development. It is a welcome development not only for the people of Kogi State but for the entire country. This development can be of great benefit to the economy that can translate into the rejuvenation of the Ajaokuta Steel Company and other steel exploration opportunities across the country to meet the local demand of iron and steel.
The creativity of separating this important ministry from the Ministry of Mines and Steel Development will definitely force the needed development into the sector. I recall that the Ministry of Mines and Steel Development was established in 1985, but little or nothing was achieved to revive the Ajaokuta Steel Company and other steel deposits in Nigeria, after 38 years of operation.
The newly appointed Minister of Steel Development should see this as a challenge and a great opportunity to bring the necessary positive changes to the sector and live up to the expectations, as Nigerians are tired of the unnecessary excuses and lip service from successive governments over the years.
We were told of many stories and uncountable promises concerning the Ajaokuta Steel Company, but none seems to have been delivered, and these have cast doubt in the minds of many Nigerians.
Like never before, I am optimistic about the new development to yield positive results, considering the capacity of the newly appointed minister. Also, the appointment seems to be strategic enough to yield the necessary result if all the necessary support and resources are provided. In fact, it will be a self-defeat if the newly appointed steel minister fails to revive the Ajaokuta Steel Company, considering the fact that he hails from the state in which the company is located, and he is in a better position to know all the lacunas bedeviling its resuscitation over the years.
It is believed and expected that his local knowledge of the issues and international expertise will be of great importance and advantage in repositioning the company.
However, it is important for the government of Tinubu to realise that it is imperative for the government to give the right tools to Audu and his team to be able to perform optimally. This also requires determination and political will to do the needful in providing the needed human and material resources, legal framework, and conducive work environment to achieve the objectives and the goals of repositioning the steel industry in the country.
Should Audu and his team fail to perform creditably well after an enabling environment has been accorded them, Nigerians will hold him accountable.
In the quest to revive steel development in Nigeria, collaborating with relevant stakeholders is of great importance at this point in time, considering the many years of abandonment. Taking a monumental step of factoring the concerns of all the interest groups at the local, national, and international levels will add credibility to whatever reforms are being proposed for the ministry. The time to act is now.
Samuel Omale writes via [email protected]
