Email: info@steel.gov.ng
Call: 234-(0)- 703 592 2055
MINISTRY OF
STEEL DEVELOPMENT (MSD)
Federal Republic of Nigeria
Welcome To Ministry Steel Development.
Minister Of Steel Development, Prince Shaibu Abubakar Audu.
Permanent Secretary, Dr. Chris O. Isokpunwu.
On The Line Of Duty.
Steel Production.
Steel Production.

LATEST PRESS


Feb
13
2026

AJAOKUTA, ACCOUNTABILITY AND THE LIMITS OF CONFRONTATION: WHY SENATOR NATASHA AKPOTI-UDUAGHAN GOT IT WRONG

The recent heated exchange between Senator Natasha Akpoti-Uduaghan and the Minister of Steel Development, Prince Shuaibu Audu, during the joint budget defence session of the National Assembly has once again drawn national attention to the long-suffering Ajaokuta Steel Company. While robust oversight is a constitutional duty of lawmakers, the tone, framing, and substance of the senator’s intervention raise important questions about method, motive, and maturity in public discourse.
No one disputes that Ajaokuta Steel Plant is a national tragedy of stalled ambition. For over four decades, successive governments have pledged to revive it. Billions of dollars have been expended with little to show. It is therefore understandable that emotions run high whenever the plant is discussed. However, passion must not eclipse prudence, especially in a forum as consequential as a joint budget defence session.

Senator Akpoti-Uduaghan’s comparison of Ajaokuta’s funding needs with the proposed 750-kilometre coastal road project—reportedly costing ₦15 trillion—was rhetorically striking but fundamentally flawed. National budgeting is not a zero-sum emotional contest between projects. Infrastructure priorities are determined by strategic economic frameworks, sectoral projections, financing structures, and long-term development plans. The coastal road, whether one agrees with it or not, is a transportation and logistics infrastructure project expected to unlock coastal economies and attract private capital. Ajaokuta, on the other hand, is a heavy industrial project with complex technical, legal, and financial entanglements spanning decades.

To juxtapose both projects as though one automatically undermines the other oversimplifies Nigeria’s economic planning process. It creates a false dichotomy and fuels public resentment rather than constructive debate. Ajaokuta’s revival requires clarity of ownership, technology partnerships, commercial viability studies, and credible financing models—not rhetorical comparisons designed to inflame.

Furthermore, questioning “the government’s real intention” in reviving the plant suggests bad faith without presenting concrete evidence of sabotage or insincerity. Oversight should interrogate timelines, procurement processes, and measurable deliverables. It should not descend into insinuations. When lawmakers imply hidden motives without substantiation, they risk eroding public trust in institutions rather than strengthening them.

The senator also criticized the committee for holding meetings and engaging with the media, suggesting that these efforts have yielded minimal impact. Yet legislative oversight often begins with consultations, stakeholder engagements, and policy reviews. A project as legally entangled as Ajaokuta—especially after arbitration disputes and international contractual complications—cannot be revived by fiat. It requires deliberate restructuring. Public hearings and media engagements are part of democratic accountability, not evidence of inaction.
Perhaps most contentious was her reference to the 2019 Nigeria–Russia bilateral agreement, under which $1.45 billion was reportedly pledged for Ajaokuta. Her caution that the minister should not “mislead Nigerians” implies that he may have misrepresented the status of that agreement. While transparency is essential, such accusations should be supported by documentary clarity rather than delivered in confrontational soundbites.

International agreements are often subject to renegotiation, feasibility assessments, and sovereign guarantees. A pledge is not the same as disbursed capital. Many bilateral memoranda of understanding never translate into cash-backed commitments. If the Russian facility remains contingent or conditional, it is legitimate for the minister to explain its current status without being accused of dishonesty. To frame policy complexities as deception risks politicizing what should be a technical discussion.
There is also the matter of decorum. Budget defence sessions are not campaign rallies. They are structured engagements where ministers present fiscal plans and legislators scrutinize them. Heated exchanges may generate headlines, but they do little to foster collaborative solutions. Nigeria’s steel sector has suffered not just from funding deficits but from policy inconsistency and political theatrics. What it needs now is stability.

It is worth noting that Minister Shuaibu Audu assumed office within a broader reform agenda aimed at repositioning the mining and steel sectors as pillars of economic diversification. His tenure, still relatively recent in the lifespan of Ajaokuta’s decades-long stagnation, cannot be solely blamed for historical inertia. Demanding immediate transformation of a project that has been dormant for over 40 years ignores the structural realities involved.

Constructive oversight would involve requesting detailed implementation timelines, insisting on performance benchmarks, and proposing legislative support mechanisms such as special purpose vehicles, concession frameworks, or public-private partnerships. It would not rely primarily on dramatic comparisons or adversarial posturing.

Moreover, public confidence in Ajaokuta’s revival depends on unified messaging from political leaders. Investors—local and international—observe these proceedings. When they see discord framed as distrust between legislative and executive arms, it reinforces perceptions of instability. Industrial megaprojects require investor confidence anchored in predictable governance.

This is not to suggest that Senator Akpoti-Uduaghan should remain silent. On the contrary, her constituency in Kogi Central has a legitimate interest in Ajaokuta’s success. Her advocacy for the plant is understandable and commendable in principle. However, advocacy must be strategic. Effective lawmakers build coalitions, engage quietly where necessary, and apply pressure through structured channels. Confrontation for its own sake may win applause in partisan circles but rarely accelerates complex industrial reforms.
The revival of Ajaokuta demands less grandstanding and more governance. It requires technical audits, credible investors, dispute resolution mechanisms, and political alignment. It also requires acknowledging that no single minister or senator can single-handedly fix what decades of mismanagement created.

In the end, Nigerians deserve transparency, realism, and responsibility. They deserve leaders who debate vigorously yet respectfully, who challenge figures with facts rather than insinuations, and who recognize that economic transformation is a marathon, not a media moment.
Senator Akpoti-Uduaghan’s passion for Ajaokuta is not in question. What is in question is whether her approach during the budget defence advanced the cause of steel revival or merely amplified political friction. At a time when Nigeria seeks industrial rebirth, the country needs statesmanship more than spectacle.

Ajaokuta is too important to become a stage for antagonism. It must instead be the arena for collaboration, clarity, and credible commitment. Only then can the promise of Nigeria’s steel dream move from perpetual debate to practical delivery.

Aug
23
2024

MINISTER OF STEEL DEVELOPMENT, PRINCE SHUAIBU ABUBAKAR AUDU, PAYS COURTESY VISIT TO GOV. SIMINALAYI FUBARA IN PORT HARCOURT …Attends Night of Tribute for mother of Mr. Atedo Nari Atowari Peterside The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, paid a courtesy visit to the Governor of Rivers State, His Excellency, Siminalayi Fubara, at the Rivers State Government House, Port Hacourt on Thursday, August 22, 2024, while on a visit to the state. Prince Audu, who was in Port Harcourt to attend the burial ceremony of the late Princess Patricia Gboloba Awune Peterside (nee Bob-Manuel), mother of Mr. Atedo Peterside CON, Founder of Stanbic IBTC Bank PLC, thanked the Governor for the hospitality accorded to him and his team. The Honourable Minister lauded Gov. Fubara for the infrastructural as well as other developmental projects he has carried out in the state within one year and his support for the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR in transforming Nigeria. Attending the night of tribute of the late Princess Patricia Peterside, the Honourable Minister commiserated with the entire Peterside family over the loss of their matriarch, urging them to take solace in the fact that she lived a long and fulfilled life and bearing children that have contributed immensely to the development of Nigeria both in private and public service. Prince Audu, in his tribute, said that although he never met the late Princess Peterside before her passing, he was aware of her diligence and dedication to duty, a trait she instilled in her son, Mr. Atedo Peterside, who played a significant role in his life as his first employer and mentor at Investment Banking & Trust Company Limited (later Stanbic IBTC Bank PLC). The Honourable Minister added that working under Mr. Peterside gave him the opportunity to benefit from all the virtues the late Matriarch instilled in his boss, which have been very helpful in enabling him deliver on his mandate as a Minister of the Federal Republic of Nigeria through professionalism, corporate governance and attention to detail amongst others. Prince Audu prayed for God Almighty to grant the deceased eternal rest and paradise. In attendance at the event were: His Majesty, Dr. Disraeli Gbobo Bob-Manuel, Paramount Ruler of Abonnema Kingdom, Rivers State; Mr. Dakuku Peterside, former Director-General, Nigerian Maritime Administration and Safety Agency (NIMASA), Dr Tonye Cole, Co-Founder and former Group Executive of Sahara Energy and 2023 Rivers State All Progressives Congress (APC) Gubernatorial Candidate; Mrs. Sola David-Borha, former CEO, Standard Bank Africa and Stanbic IBTC Holdings; Mr. Yinka Sanni, CEO, Standard Bank Africa as well as the Peterside family. Others were Justice Funmilayo Atilade, former Chief Judge of Lagos State, among many other dignitaries.

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Jul
25
2024

MINISTER OF STEEL DEVELOPMENT MEETS CHIEF EXECUTIVE, PRESIDENTIAL CNG INITIATIVE ...Discuss operational modalities of setting up a CNG Park within the prospective Ajaokuta Industrial Park The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu met with Engr. Michael Oluwagbemi, Program Director/Chief Executive Officer, Presidential Compressed Natural Gas Initiative (P-CNGI) in Abuja on Wednesday to discuss setting up a CNG park within the Ajaokuta Industrial Park. Prince Audu reemphasised the fact that one of the paramount objectives of President Bola Ahmed Tinubu GCFR, under the 'Renewed Hope Agenda’ is the CNG Initiative, which is very critical following the removal of petroleum subsidies, and would reduce transportation costs by at least 40 percent. The Honourable Minister said that the Ministry of Steel Development is collaborating with the P-CNGI to set up a CNG park within the proposed Industrial Park in Ajaokuta which is underway, to drive the CNG initiatives of Mr. President. “Mr. President has given a mandate that he wants a minimum of one million CNG vehicles on the road by 2027. So, there is a lot of work that needs to be done, and everything that we need to partner with the federal government under the CNG initiative are available in Ajaokuta. “One of the things we are also doing is the industrial park in Ajaokuta, where various categories of companies will be under the industrial park within Ajaokuta. So, the CNG park will be one of the many components of the soon-to-be Ajaokuta Industrial Park. “Everything to actualize the CNG initiative and conversions are available in Ajaokuta, and so plugging in the CNG initiative is very viable; there is gas there, an engineering workshop is there, and a tools workshop to facilitate the construction or assemblies of the kits is also there. “Mr. President is indeed very excited about this initiative and the partnership between the Ministry and the P-CNGI, which drives the plans of industrialising Nigeria, diversifying and growing the economy, and creating jobs under the renewed initiatives,” Prince Audu said. The Honourable Minister of Steel Development commended Engr. Olugbemi for the excellent job he is doing in actualizing the CNG initiative of Mr. President. Mr. Olugbemi said that the Steel Industry is an absolute necessity for the actualization of the CNG initiative, adding that steel components are at the very heart of the project. Olugbemi said that establishing the CNG park in Ajoakuta will be an evolution from importing some of the components to manufacturing them. This, he further explained, will address some of the challenges with transporting the CNG components into the country. “The journey with the Ministry of Steel Development was critical from day one, and Ajaokuta is a hub with access to raw materials. We have hit the ground running already and are optimistic about excellent collaborations with the Ministry,” Olugbemi said. The Permanent Secretary of the Ministry, Dr. Chris Osa Isokpunwu lauded the initiative commending the partnership between the Ministry and P-CNGI, pledging the support of the Ministry and its team. Engr. Sumaila Abdul- Akaba, Sole Administrator, Ajaokuta Steel Company Limited said that the project was a welcome development to Ajaokuta especially in the revival phase of the company. He assured P-CNGI of the cooperation of the steel company In bringing to fruition the realization of the project.

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May
09
2024

MINISTER OF STEEL DEVELOPMENT VISITS LEADING INDIGENOUS STEEL PRODUCER, KAM INDUSTRIES, SAYS FG KEEN ON ENCOURAGING INDIGENOUS PLAYERS ...Kwara Governor and Chairman Nigeria’s Governors Forum, Abdulrahman Abdulrasak expresses confidence in Prince Audu As the Federal Government commits to industrialising Nigeria through the Steel and Metals Sectors, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, embarked on a two-day working visit to leading indigenous player, KAM Industries in Kwara and Ogun States. The two-day visit of the Honourable Minister from May 7 to May 8 2024, to KAM’s steel production factories in Jimba Oja, Kwara State, and Sagamu in Ogun State aims to assess the steel production by the company. Prince Audu, during his courtesy call to the governor of Kwara State and Chairman, Nigeria’s Governors Forum, Mal. Abdulrahman Abdulrasak CON, reiterated the commitments of President Bola Ahmed Tinubu GCFR to reviving the nation’s Steel and Metals Industry in a bid to diversify and grow the Nigerian economy to over one trillion dollars before the end of his administration. The Honourable Minister further noted that his visit to KAM Steel, a subsidiary of KAM Holding, is also to encourage indigenous players in Nigeria’s steel sector, commending the Chairman and Group Managing Director of the company, Alhaji Kamoru Yusuf MON, for such massive investments, which has significantly contributed to Nigeria’s economy by employing over 20,000 Nigerians and pumping hundreds of billions of Naira into the economy. “My visit to Kwara State is to encourage indigenous players in the steel industry. We have been discussing across board with some foreign investors that are interested in coming to Nigeria, but I also thought it imperative to also associate, pay a visit, and support indigenous players that are doing extremely well in the steel and metals industry in Nigeria. KAM Holding is the leading indigenous steel company in Nigeria. “Under the renewed hope agenda of President Bola Ahmed Tinubu GCFR, one of his cardinal objectives is to grow the size of Nigeria’s GDP to over 1 trillion dollars by the end of his second term in office. And part of what we have to do to enable us to achieve that is to focus on industrialization. “Industrialization has the capacity to create millions of jobs, and Mr. President wants to provide more than 80 million jobs for Nigerians over the next eight years of his administration, and the steel industry is going to play a very key role in that regard. “So, under the eight-point agenda of Mr. President, certain things have to be put in place to ensure that Nigeria is working for Nigerians. “I am here to first of all pay my respect and acknowledge the Executive Governor of Kwara State for doing such a wonderful job across the sub-sectors of the economy for the people of Kwara,” Prince Audu said. In his remarks, the Executive Governor of Kwara State and Chairman of Nigeria's Governors' Forum, Mal. AbdulRahman Abdulrazak, commended the Honourable Minister for the visit to the site to see for himself the true facts before setting up policies for moving the industry forward. Gov. Abdulrazak also expressed confidence in the leadership of Prince Audu as Minister to get the steel industry of the country right, urging the ministry to consider including KAM Holdings as an indigenous partner in its revival plans for Ajaokuta. “Kwara holds the second largest steel production in Nigeria through the activities of KAM Holdings, led by Alhaji Kamaru Yusuf. We hold him in high esteem here; his investment is in trillions of naira. "Making Ajaokuta work is an albatross, which we are confident you will unite the issues there. Without getting the steel sector right, Nigeria cannot be industrialised," Gov. Abdulrazak said. In her welcome address, the Vice Chairman, KAM Holding Ltd, Dr. Iyadunni Bolanle Yusuf, revealed that in the past, the steel sector was dominated by foreign owned companies until KAM Holding Ltd came on the scene, noting that KAM Holding Ltd is home to manufacturing companies of liquid, iron, and steel products that are wholly owned by Nigerians. Dr. Iyadunni Bolanle Yusuf appealed to the Ministry to ensure it protects the indigenous steel manufacturing sector, as it plays a critical role in the growth and development of the country by providing materials for building infrastructure, automobiles, engineering, defence, and being the bedrock of industrialisation. The Honourable Minister also paid a courtesy visit to the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari.

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PRINCE SHAIBU A. AUDU
Honorable Minister
Federal Ministry of Steel Development
DR. CHRIS O. ISOKPUNWU
Permanent Secretary
Federal Ministry of Steel Development

Vision

“To have a virile sustainable and inclusive steel industry that can compete globally and be driving for industrial and economic growth of our country while maintaining internationally acceptable standard”

Mission

“To ensure industry and Government strengthen the capability and competitiveness of Nigeria steel industry to achieve self sufficiency in steel production by providing policy support and guardian and to help mitigate potential challenges and barriers that are preventing the growth of Nigeria steel industry”

PUBLIC ANNOUNCEMENT


The attention of the Federal Ministry of Steel Development has been drawn to recent media reports regarding the future of the Ajaokuta Steel Company Limited (ASCL).
While we note the concerns expressed, it is important to state that the Federal Government remains firmly committed to the development of Nigeria’s steel sector, including the resuscitation of ASCL.

A comprehensive technical and financial audit of the plant is presently underway to ensure that any decision taken is transparent, data-driven and in the best interest of Nigeria. The overall assessment of the previous technical audit report dated 2018 maintained that the general status of the Steel Plant is in robust condition except for normal deterioration of replaceable parts and recommended automation of manual control systems for improved efficiency.  The Ministry remains confident that the updated audit will provide a sound basis for decisive action that advances Nigeria’s industrial aspirations.

The Federal Government is determined to build a competitive and modern steel industry that supports national industrialization and infrastructure growth.

Salamatu Jibaniya
Head, Press and Public Relations Department
for:  Ministry of Steel Development

 


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PHOTO NEWS


Feb
13
2026

2024/2025 BUDGET APPRAISAL AND 2026 BUDGET DEFENCE DRIVE STEEL SECTOR OVERSIGHT

Prince Shuaibu Abubakar Audu, Honourable of Steel Development (L) with Honorable Dr. Zainab Gimba (R), Chairman, House of Representatives Committee on Steel Development during the Ministry's appearance before the House of Representatives Committee on Steel for the Appraisal of the 2024/2025 Budget Performance and the Defence of the 2026 Budget Proposal of the Ministry, held on Thursday 12th February 2026 in Abuja.

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PHOTO NEWS


Feb
11
2026

STEEL MINISTER AND SENATE COMMITTEE LEADERS MEET FOR 2024/2025 BUDGET APPRAISAL AND 2026 BUDGET DEFENCE AT NATIONAL ASSEMBLY

Senator Natasha Akpoti-Uduaghan, Vice-Chairman, Senate Committee on Steel;  Senator Patrick Ndubueze, Chairman Senate Committee on Steel and the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu during the Ministry's appearance before the Senate Committee on Steel Development for the Appraisal of the 2024/2025 Budget Performance and the Defence of the 2026 Budget Proposal of the Ministry

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