Ajaokuta City Chamber of Commerce, Industry, Mines, and Agriculture (AJACCIMA) has expressed optimism that Ajaokuta Steel Company will work under President Bola Ahmed Tinubu led administration.
A statement by the Body on Monday in Lokoja said the President’s visit to the State for the anniversary of Governor Ahmed Usman Ododo offers a pivotal opportunity to reignite momentum toward ASCL’s completion.
According to the statement, the President has renewed the hope of the people of Kogi State and Nigerians on the company with the pragmatic approach and commitment to economic diversification.
“The Ajaokuta Steel Plant (ASCL), conceived in the 1970s as a cornerstone of Nigeria’s industrialization and economic diversification, remains unrealized despite over $8 billion in investments.
“Strategically located in Kogi State, ASCL was envisioned to position Nigeria as a global steel powerhouse. However, decades of setbacks, including contractual disputes, inadequate funding, policy inconsistencies, and external pressures, have stalled its commissioning, denying the country its potential to create thousands of jobs, drive economic growth, and strengthen local manufacturing.
“President Bola Ahmed Tinubu’s visit to Kogi State offers a pivotal opportunity to reignite momentum toward ASCL’s completion, cementing his administration’s legacy in Nigeria’s industrial transformation.
It further said “Under President Bola Ahmed Tinubu’s administration, there is renewed hope. The President’s pragmatic approach and commitment to economic diversification have rekindled optimism for ASCL’s completion by creating the stand-alone Ministry for Steel Development. Recent engagements point toward a clearer focus on integrating the plant into Nigeria’s industrialization agenda, though concerns remain over ill-advised partnerships, such as those with the Bretton Woods Institutions, which could stifle growth and perpetuate dependency. This is the time for Nigeria and most developing nations to embrace Asian-styled progressive development by enlisting the support and cooperation of the Global South for strategic development infrastructure.
It said recent engagements point toward a clearer focus on integrating the plant into Nigeria’s industrialization hub and expressed concerns over ill-advised partnerships.
The Body called for securing Commitments, attracting investments and policy advocacy for the completion of the Company, to enhance Youth Empowerment and Employment.
