The Federal Government has restated its commitment to the revitalization of the moribund Ajaokuta Iron and Steel Company to jumpstart the country’s ailing economy.
The Minister of Steel Development, Prince Shuaibu Abubakar Audu made this known at the Unveiling Ceremony and Presentation of Prizes to Winners of the 2024 Prince Shuaibu Abubakar Audu Essay Competition in Lokoja on Sunday.
Prince Audu explained that the recent signing of a Memorandum of Understanding between the Federal Government and a Russian consortium was aimed at restoring the capacity of the company to strengthen the manufacturing base and further save significant foreign exchange.
The Minister who was represented by a former Director-General, Protocol, Kogi State Government House, Dr. Emmanuel Ekele, said the steel company which can create wealth has the potential to promote technological growth and infrastructural development.
He emphasized the commitment of the administration to aggressively pursue the completion of the project to revamp the steel sector, noting that this would be the game changer for Nigerian industries and turn the economy around for better.
In a keynote lecture, Dean, School of Postgraduate Studies, Federal University, Lokoja, Professor Gbenga Ibileye highlighted some of the constraints and impediments against the completion of the Steel Company, as corruption, international interference, lack of political will, policy summersaults, among others.
Prof. Ibileye lamented that despite the company’s current dormant state, it has continued to gulp billions of naira with no commensurate inputs and output.
The university don stressed that the revival of the company would engender
a sustainable development of the steel sector and reduce the country’s dependent on imported metal products.
Enumerating the benefits of a functional Steel Mill, Prof. Ibileye said it would further drive the local production of goods and reduce the country’s infrastructural deficit
The Nigerian Union of Journalists’ Vice President, Zone D’, Comrade Adeiza MomohJimoh in an overview of the Steel Mill commended President Bola Tinubu’s administration for confronting frontally the challenges militating against the completion and operation of the steel mill.
Represented by Comrade Ibrahim Obansa, Kogi State NUJ Council Vice President, MomohJimoh said the signing of the Memorandum of Understanding by the minister was an indication of the FG’s commitment to complete the project.
Earlier, Convener of the event, Engineer Bayode Oladipo commended Prince Shuaibu Abubakar Audu for sponsoring the competition, noting that such initiative will empower the youth, and engender a more engaged, informed and proactive citizenry.
The topic for this year’s contest was “Reactivating the Ajaokuta Steel Company As A Means to Reinvigorating the Nigerian Economy”
He said the program aims to develop the human capacity of the youths, awaken the culture of research, promote intellectual growth amongst youths, and improve the standard of education in the state.
He added that the competition would promote proficiency in writing and critical thinking amongst the participants.
The essay written by Firdausi Sanusi was adjudged the best among all the entries, while Godwin Philomena Ojochenemi emerged the 1st runner-up, and Idoko Peace Enyo became the 2nd runner-up. They all went home with various prizes.
Highpoint of the event was the presentation of the ‘Man of the Year’ award to Prince Shuaibu Abubakar Audu for an outstanding achievement.
