46-Year Ajaokuta Steel Deadlock Ends as NNPCL Signs 20-Year Gas Deal
A new 20-year gas supply agreement between the Ajaokuta Steel Company and the Nigerian National Petroleum Company has cleared a major hurdle that stalled steel production for over four decades. The landmark deal guarantees uninterrupted gas to the plant, addressing a key requirement investors said was essential before operations could begin. Industry experts see this as the first concrete step toward bringing Ajaokuta Steel to life. Observers say the breakthrough reflects President Bola Tinubu’s Renewed Hope Agenda, which prioritises industrialisation, economic diversification and infrastructure development under his administration. With steady gas supply assured, investor confidence is set to rise. Analysts predict the plant will drive thousands of jobs, boost local manufacturing and reduce steel imports – marking a new chapter for Nigeria’s industrial growth.
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