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Nigeria has begun discussions with Russian firm for steel mill project

Nigeria has begun negotiations with a Russian company to revitalize its steel plant in Ajaokuta. The discussions are part of the Nigerian President's "Renewed Hope Agenda", which aims to boost steel production and industrialization.

Nigeria has begun discussions with Russian firm for steel mill project

Nigeria's Ministry of Information and National Orientation stated that Nigeria has entered into discussions with a Russian company on the revitalization of the steel plant project in Ajaokuta, Nigeria.

Nigeria's Steel Development Minister Shuaibu Abubakar Audu met with the country's Russian company Tyazhpromexport (TPE), part of Rostec, and Nigeria's Ajaokuta Steel Company (ASCL).

In line with Nigerian President Bola Tinubu's "Agenda of Renewed Hope" aimed at ensuring Nigeria's steel production and industrialization in the coming years, he called on them to come up with a plan to revive the plant project as soon as possible.

The Minister also expressed his intention to visit Moscow at the invitation of the TPI for further negotiations to secure the $2 billion financing needed to revitalize the plant. According to him, if the project is successful, it will be an important step towards the industrialization of Nigeria.

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