The Nigerian government has said it will no longer be able to revitalise the Ajaokuta Steel Company in 2022 as it earlier pledged, citing the impact of COVID-19 and the ongoing Russia-Ukraine war.
The Minister of Mines and Steel Development, Olamilekan Adegbite, said the project will also likely not be completed by the Buhari administration before it leaves office in 2023.
Mr Adegbite said the deal with Russia involved a $2 million fee for technical audit to ascertain the state of the facility before work could begin, and that President Muhammadu Buhari approved the payment.
“We made frantic efforts to continue the negotiations with Russia after the lockdown, but progress was stalled again due to the current conflict between Russia and Ukraine,” the minister added.
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