• About Us
  • Contact Us
  • Privacy & Policy
Thursday, June 19, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

FG Requires $25 Million To Revitalize Ajaokuta Steel Plant, According To The Minister

Martins Nwakaji by Martins Nwakaji
April 3, 2025
in National, News
Reading Time: 2 mins read
A A
0
Ajakuta steel
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram

By: Nwakaji Peace Martins

Minister of Steel Development, Prince Shuaib Audu Abubakar disclosed that the Federal government requires $25 million in funding to revive the Ajaokuta Steel Plant in Kogi State, with the aim of commencing the production of iron rods for the construction industry. Prince Abubakar made this announcement during a sectoral update briefing to commemorate the first anniversary of President Bola Ahmed Tinubu’s one year in office in Abuja.
He mentioned that the ministry is in the final stages of securing private-sector financing to enable the plant to partially manufacture crucial military hardware and reduce the country’s dependence on importing these essential items from overseas.


“We are on the verge of procuring over N35 billion from a local financial institution, equivalent to $25 million, to recommence operations at the light section mill of the complex in order to produce iron rods,” he emphasized.

Abubakar highlighted that the ministry is currently exploring the possibility of reinstating the Russian company that originally built the Ajaokuta steel plant, or potentially collaborating with other firms from China, India, and Nigeria to optimize the plant’s operations for the nation’s benefit.
The minister emphasized that in addition to collaborating with the private sector to complete the 100-megawatt power plant for a stable electricity supply, the government is considering establishing an industrial park on the vast land where the plant is situated.
Consequently, he mentioned that his ministry is working in partnership with the Minister of Works, Senator David Umahi, to provide 40,000 metric tonnes of iron rods for road construction across the six geopolitical zones of the country.
“That light section mill has the capability to produce up to 400,000 metric tonnes of iron rods annually. I have been in close collaboration with the Minister of Works, Mr. David Umahi, to supply iron rods to the ministry as part of President Bola Ahmed Tinubu’s concrete road revolution,” he stated.
“There are numerous roads under construction nationwide, totaling approximately 30,000km across the six geopolitical zones. We are aware that the Ministry of Works requires about seven million metric tonnes of iron rods over a four-year period to complete the construction of these 30,000 km of roads.”

Tags: nigeriaTinubu
Martins Nwakaji

Martins Nwakaji

Related Posts

Court Grants N50m Bail to Senator Natasha Akpoti-Uduaghan over Defamation Charge
National

Court Grants N50m Bail to Senator Natasha Akpoti-Uduaghan over Defamation Charge

2 hours ago
Gov Mbah declares Enugu safest place, as herdmens kills seven
National

Gov Mbah declares Enugu safest place, as herdmens kills seven

2 hours ago
Nigerians must endure pains till Tinubu’s reforms completed – Information Minister
National

Nigerians must endure pains till Tinubu’s reforms completed – Information Minister

3 hours ago
Benue youths protest as APC turns Tinubu’s Benue visit over killings to political rally
National

Benue youths protest as APC turns Tinubu’s Benue visit over killings to political rally

3 hours ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Court Grants N50m Bail to Senator Natasha Akpoti-Uduaghan over Defamation Charge
National

Court Grants N50m Bail to Senator Natasha Akpoti-Uduaghan over Defamation Charge

2 hours ago
Gov Mbah declares Enugu safest place, as herdmens kills seven
National

Gov Mbah declares Enugu safest place, as herdmens kills seven

2 hours ago
Nigerians must endure pains till Tinubu’s reforms completed – Information Minister
National

Nigerians must endure pains till Tinubu’s reforms completed – Information Minister

3 hours ago
Benue youths protest as APC turns Tinubu’s Benue visit over killings to political rally
National

Benue youths protest as APC turns Tinubu’s Benue visit over killings to political rally

3 hours ago
Tinubu’s insensitive, turned Benue condolence visit to carnival – Peter Obi
National

Tinubu’s insensitive, turned Benue condolence visit to carnival – Peter Obi

3 hours ago
2027: APC Chieftain Dispels ‘Malicious Rumours’ Of Plans To Substitute Shettima 
National

2027: APC Chieftain Dispels ‘Malicious Rumours’ Of Plans To Substitute Shettima 

1 day ago

POLITICS

Former Loyalist accuses Peter Obi of Betrayal

Former Loyalist accuses Peter Obi of Betrayal

5 days ago
2027 election: `Democracy must reflect will of the people` Peter Obi warns

Labour Party Chieftain points accusing fingers at Obi over crisis

5 days ago
Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

Saraki Replies To Tinubu’s Mockery Of Opposition, Says They Will Sort Themselves Out.

6 days ago
Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities

Peter Obi Accuses Tinubu Of Hypocrisy, Misplaced Priorities

6 days ago
I’m glad PDP, LP, NNPP are in crisis – Tinubu

I’m glad PDP, LP, NNPP are in crisis – Tinubu

6 days ago
Democracy Day: It Is Indeed A Pleasure To Witness You In Such A Disarray – Tinubu to Opposition Parties

Democracy Day: It Is Indeed A Pleasure To Witness You In Such A Disarray – Tinubu to Opposition Parties

1 week ago

YOUR ECONOMY

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments
Economy

Enforce Transparent Pump Pricing, oil marketers Cheating Nigerians, PENGASSAN laments

2 days ago
PETROAN kicks against Dangote’s petrol distribution strategy
Economy

PETROAN kicks against Dangote’s petrol distribution strategy

2 days ago
Dangote Refinery Begins Distribution of Petrol Nationwide
Economy

Dangote Refinery Begins Distribution of Petrol Nationwide

4 days ago
Nigeria Stock Exchange to Partner with Hong Kong’s Stock market
Economy

Nigeria Stock Exchange to Partner with Hong Kong’s Stock market

1 week ago
Dangote refinery is Tinubu’s brainchild – Aliko
Economy

Dangote refinery is Tinubu’s brainchild – Aliko

2 weeks ago
FG will revive cocoa industry – Shettima
Economy

FG will revive cocoa industry – Shettima

2 weeks ago

E & P

Breaking: Barcelona signs Joan García from city rival Espanyol
Sports

Breaking: Barcelona signs Joan García from city rival Espanyol

by Steven Atogi
2 hours ago
0

After a successful season with domestic treble of La Liga, Super Cup and Copa Del Rey, the Catalan giants of...

Trent Alexander-Arnold unveiled for Real Madrid

Trent Alexander-Arnold unveiled for Real Madrid

6 days ago
Matheus Cunha joins Man United from Wolves

Matheus Cunha joins Man United from Wolves

1 week ago
Friendlies: Senegal’s Lions of Teranga beat England’s Three Lions 3-1

Friendlies: Senegal’s Lions of Teranga beat England’s Three Lions 3-1

1 week ago
Nuno Mendes shines at Nations League final

Nuno Mendes shines at Nations League final

2 weeks ago
Portugal beats Spain in Nations League final

Portugal beats Spain in Nations League final

2 weeks ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
4 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
6 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
7 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Trends

Recent News

North Carolina Declares June 14 as Igbo Day

North Carolina Declares June 14 as Igbo Day

June 19, 2025
Plane Crash: Air India Affirms Plane ‘Well-Maintained’ 

Plane Crash: Air India Affirms Plane ‘Well-Maintained’ 

June 19, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address