FG Signs MoU To Revive Ajaokuta Plant, National Iron Ore Mining Company

The Federal Government of Nigeria has signed a Memorandum of Understanding (MoU) with a Russian consortium for the rehabilitation, completion, and operation of the Ajaokuta Steel Company Limited and the National Iron Ore Mining Company (NIOMCO).

The consortium include: Messrs Tyazhpromexport (TPE), Novostal M, and Proforce Manufacturing Limited

The agreement, which was signed for the FG through the Ministry of Steel Development, was formalized during a visit to Moscow by FG’s delegation, led by the Minister of Steel Development, Prince Shuaibu Abubakar Audu, according to a statement on Friday.

Recall that the Russian-led consortium inspected the steel and iron ore mining facilities in Ajaokuta and Itakpe in August 2024.

The statement read: “The Federal Government of Nigeria through the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu who led a Nigerian delegation to Moscow, Russia from 14th – 21st September, 2024, on a working visit, has signed a Memorandum of Understanding (MoU) with the original builders of Ajaokuta Steel Plant Messrs, Tyazhpromexport (TPE) and members of their consortium namely; Novostal M and Proforce Manufacturing Limited for the Rehabilitation, Completion and Operation of Ajaokuta Steel Plant (ASP) and National Iron Ore Mining Company (NIOMCO) in Kogi State, Nigeria.”