The Nigeria-China Strategic Partnership (NCSP) is collaborating with the Federal Ministry of Steel Development to revive the long-dormant Ajaokuta Steel Company-positioning it as a cornerstone of Nigeria’s renewed push toward industrialization, with a strong focus on the automotive and manufacturing sectors.
In a briefing with the Minister of Steel Development, Prince Shuaibu Abubakar Audu, the Director General of NCSP, Mr. Joseph Tegbe, confirmed that discussions are progressing around a public-private partnership with leading Chinese steel manufacturers.
The proposed structure is a zero-cost investment model for Nigeria, anchored on a revenue-sharing agreement designed to support sustainable steel production and long-term economic growth.
“This initiative is not just about restarting Ajaokuta—it’s about positioning Nigeria to lead in sectors where steel is central to productivity and development,” said Tegbe.
The plan, which has received full endorsement from President Bola Ahmed Tinubu, includes proposed 10-year revenue-sharing arrangement between Nigerian and Chinese investors.
Key focus areas include technology transfer, sheet metal production, furnace modernization, and the expansion of manufacturing value chains.
