The Federal Government has reserved an estimated three billion tonnes of iron ore to supply the Ajaokuta Steel Rolling Complex in Kogi State once the long-delayed steel plant becomes fully operational.

The Director-General of the National Steel Raw Materials Exploration Agency, Kolawole Michael, disclosed this while assessing Nigeria's preparedness for the anticipated revival of the Ajaokuta steel project.

According to Michael, the decision to keep the vast iron ore deposits unmined aligns with President Bola Tinubu's directive to halt the export of unprocessed solid minerals and promote local value addition. He said the administration is focused on ensuring that Nigeria derives greater economic benefits from its mineral resources through industrial processing, job creation, technology transfer, and manufacturing.

Michael explained that although the iron ore deposits in Itakpe, Kogi State, are among the highest quality in the country, they have remained largely untapped because the Ajaokuta Steel Plant, the intended primary consumer of the raw material, is yet to commence full operations. He noted that the original steel development master plan assigned specific responsibilities across the industry's value chain.

Michael expressed confidence that with adequate investment, the revival of the Ajaokuta Steel Plant and the development of the country's mineral resources could significantly accelerate Nigeria's industrialisation drive and reduce reliance on imported steel products.

— NAIRAMETRICS