Nigeria Seeks Chinese Partnership to Revive Ajaokuta Steel Company and NIOMCO

The Nigerian government is exploring a partnership with China to revitalize the Ajaokuta Steel Company Limited (ASCL) and the Nigeria Iron Ore Mining Company (NIOMCO). Memorandum of Understanding has been signed with Tyazhmashpromexport (TPE) from Russia to rehabilitate and operate the plant in Itakpe, Kogi State.

The defense sector, through the Defence Industries Corporation of Nigeria (DICON), has started producing military hardware using inputs from the Ajaokuta Steel Complex. Additionally, 12 iron ore deposits have been identified across Nigeria, with efforts to boost local steel production and encourage private sector participation in the steel value chain.