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Ajaokuta Steel Company to Create 500,000 Jobs - FG

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The first phase of Ajaokuta Steel Company will provide 500,000 upstream and downstream jobs when operational, the Federal Government has said.

The company’s Sole Administrator, Mr. Isah Onobere, made this known during a media tour of the company, last week.

Onobere said the first phase of the plant would also provide direct employment for 10,000 technical staff.

He also said the first phase had been completed, adding that it was envisaged to produce 1.3 million tonnes of liquid steel yearly.

Onobere said it would cost $400 million to complete Ajaokuta Steel, which had reached 98 per cent completion.

According to him, $2 billion is needed for infrastructure rehabilitation and operational cost.

Onobere said the government had begun to commit resources toward the maintenance and preservation of the plant’s equipment and facilities. He, therefore, called for improved efforts.

According to him, the government is considering various options on the way forward for the project’s completion, which includes outright sale, concession and joint venture.

He, however, denied rumours that the company’s equipment were obsolete, adding that the company can stand the test of time as all its equipment are functioning appropriately.

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