Akpoti-Uduaghan Critiques Ajaokuta Steel Revival Plans

During a recent joint budget defense session, Senator Natasha Akpoti-Uduaghan criticized the government's handling of the Ajaokuta Steel Company, which has been moribund for over four decades. She emphasized the need for robust oversight and clarity regarding ownership, technological partnerships, and credible financing models.

Akpoti-Uduaghan compared the funding requirements for Ajaokuta Steel to a proposed 750-kilometer coastal road project, which reportedly costs 15 trillion naira, arguing that such comparisons create a false dichotomy in public discourse. She cautioned against suggesting bad faith on the government's part without concrete evidence and highlighted the importance of transparency regarding the 2019 Nigeria-Russia bilateral agreement, which pledged $1.45 billion for Ajaokuta.

Akpoti-Uduaghan urged the Minister of Steel Development, Shuaibu Audu, to avoid misleading the public about the status of this agreement. The session underscored the need for a collaborative approach to reviving Nigeria's steel sector, which suffers from funding deficits and policy inconsistencies.