Wednesday, October 5, 2022
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HomeEconomy"Abandoning/Scrapping Ajaokuta Steel Would Be Suicidal for Nigeria" - DG, NMDC.

“Abandoning/Scrapping Ajaokuta Steel Would Be Suicidal for Nigeria” – DG, NMDC.

Prof. Linus Asuquo, the Director-General, National Metallurgical Development Centre (NMDC), says abandoning or scrapping Ajaokuta Steel Company would be suicidal for the country.

Asuquo made the observation while addressing newsmen on Monday in Abuja.

He said that reviving the steel company would be the best option for the country rather than neglecting the project to waste year on year.

He said that lots of money had been spent on the construction of the magnificent Complex, while  abandoning it would be a great waste.

“We should not play with Ajaokuta Steel Company; I think a lot of politics has been played on it over the years, the amount spent on importation of metals on yearly basis by Nigeria is huge.

Billions to Import Metals

“We are spending billions of naira to import metals being used for our railway construction, if we have Ajaokuta steel company working, there will be no need importing steel.

Job Creation and Power Generation

He said that the company could create massive jobs for the youth, generate power for the country, among others if revived.

Coal and Iron Ore

He also said that materials such as iron ore for producing steel were available across the country in large quantum.

Asuquo said that coal and iron ore needed for iron making had been researched by NMDC, adding that only foreign coal would be needed to blend with Nigeria coal for steel making.

“Coal is one of the materials needed for iron making and lots of research have been done on that by the centre.

No Coal for 100% Coking

“Unfortunately, even though we have coal in abundance such as Enugu coal, our coal are not prime for coking coal being used for steel making; what I mean is that we cannot have 100 per cent coke from our coal.
“From our research, we can blend Lafia Obi coal with imported coal for our coke for steel production.

Blast Furnace is not Obsolete

“I will not agree with some Nigerians that said that our  blast furnace for steel production is now obsolete; it can still produce steel; Russia and India are still using blast furnace, we can modify it into sections to function adequately.

(NAN)

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