Follow Us on Google
From Juliana Taiwo-Obalonye, Abuja
President Bola Tinubu has charged the Minister of Steel Development, Shuaibu Audu, to intensify efforts towards reviving the moribund Ajaokuta Steel Complex, attracting fresh investments and boosting local steel production as part of his administration’s drive to strengthen Nigeria’s industrial base and reduce dependence on imported steel products.
The President gave the charge in a birthday message to the minister, who marks his birthday on Friday, November 6, acknowledging his contributions to ongoing efforts to reposition the steel industry and unlock the economic potential of strategic national assets.
In the message issued by his Special Adviser on Information and Strategy, Bayo Onanuga, Tinubu commended Audu for facilitating investment discussions and partnerships aimed at revitalising the sector, particularly initiatives directed at bringing the Ajaokuta Steel Complex and other critical steel facilities into productive operation.
He encouraged the minister to sustain the momentum of the administration’s industrial development agenda by deepening engagement with prospective investors, strengthening partnerships and accelerating efforts to expand domestic steel production.
The President’s renewed emphasis on Ajaokuta reflects the Federal Government’s commitment to addressing longstanding challenges that have prevented the steel complex from fulfilling its intended role in Nigeria’s industrialisation.
The facility, conceived as a cornerstone of the country’s industrial development, has remained largely unproductive despite substantial public investments over several decades, making its revival a recurring priority for successive administrations.
Other News
Tinubu acknowledged the importance of developing a functional domestic steel industry to support infrastructure development, manufacturing and other productive sectors of the economy.
He also recognised Audu’s professional background in banking and finance, describing his experience in corporate and investment banking, asset management and venture capital as relevant to the task of attracting investment into Nigeria’s steel industry.
Before his appointment as Minister of Steel Development in August 2023, Audu had accumulated more than two decades of professional experience in the financial services sector, holding several senior positions at Stanbic IBTC Group, including Chief Executive Officer of its venture capital business.
His career also included professional engagements with the Bank of New York Mellon in the United States and Credit Suisse in Switzerland.
A graduate of the University of Leicester, Audu holds a master’s degree from Henley Business School, University of Reading, and a Master of Business Administration degree from the University of Oxford.
Tinubu urged the minister to continue applying his experience and expertise towards achieving the administration’s objectives of attracting investments, expanding local steel production and strengthening the industry’s contribution to national economic development.
The President wished Audu good health, renewed strength and continued success in his service to the country.
