According to Shuaibu Abubakar Audu, Minister of Steel Development, the Ministry of Works would receive over 400,000 metric tons of iron rods from Ajaokuta Steel’s light section mill after it is finished building roads throughout Nigeria.
Audu made this declaration on Thursday at the press conference for President Bola Tinubu’s 12-month evaluation of the ministers’ performance in Abuja.
The Minister said that the light section mill at the Ajaokuta complex will be restarted using N35 billion in seed money from a private financial institution, per the President’s approval.Accordingly, he said his ministry is partnering with David Umahi to supply 40,000 metric tonnes of iron rods for road construction across the six geopolitical zones of the country.
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He acknowledged that the 30,000 km of roads under construction nationwide would need about 7 million metric tonnes of iron rods over four years, yet confirmed Ajaokuta can supply 400,000 metric tonnes annually to these projects.
“We are at the final stage of raising over N35 billion from a local financial institution which is about $25 million to restart the light section mill of the complex so that we can produce iron rods.
“That light section mill has the capacity to produce up to 400,000 metric tonnes of iron rods per annum.
“I have been working very closely to the Minister of Works, Mr. David Umahi, so that we can provide iron rods to the ministry as part of the concrete road revolution of President Bola Ahmed Tinubu.
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“There are so many roads that are being constructed across the country, about 30,000km roads across the six geopolitical zones.
“We understand that the ministry of works needs about 7 million metric tonnes of iron rods over 4 years period to construct the 30,000 km of roads. Ajaokuta can produce 400,000 metric tonnes which is a drop in the ocean of what is required.
“But because it is an important asset, the president is keen on us getting Ajaokuta to work and being able to produce some of these iron rods that is required by the federal government,” Audu said.
