Fmr Ajaokuta Steel CEO: Only A Miracle Can Revive Project, Private Investors Unlikely To Save It Due To Enormous Costs

Inuwa, who identified financial constraints, lack of commitment, and uncoordinated infrastructure as major hindrances, stated that only a miracle could make the project operational.

The seasoned metallurgist and former commissioner disclosed this in a recent interview with Daily Trust.

According to him, the Ajaokuta project requires significant private investment, which he believes the government is incapable of providing.

He explained that crucial infrastructure necessary for the steel complex, such as bridges and rail connections, remains incomplete or underutilised.

He pointed out a railway bridge over the Niger River, constructed during the project’s initial phase, which has yet to be incorporated into the transport network due to the absence of an extended rail line.

Inuwa further criticised the lack of a standard gauge railway system connecting Ajaokuta to key locations like Onne Port in Port Harcourt. He emphasised that such connections would be vital for the efficient transportation of materials.

While acknowledging the potential for private investors to intervene, Inuwa expressed scepticism about their willingness to commit the enormous financial resources required.

He said, “It needs a lot of private money; the government cannot fund it. They don’t have the commitment. And Ajaokuta is too big; it is not a question of separating it.

“When they were building Ajaokuta, they built two bridges – both of them across the Niger – one going towards Benue and the East, and the other one, a railway bridge, was built and completed before I was appointed. It is still standing on water.

”There ought to be a standard gauge system from the bridge to Onne port in Port Harcourt so that they can offload from big ships. And there ought to be another connection from Ajaokuta to the bridge.

“Within Ajaokuta itself, there are 65 miles of railway within the project because most movements are supposed to be by rail from one section to another. So, and I can’t see how some private person would come and put so much money there.”

On whether the project would ever see the light of day, he responded, “There will always be a miracle coming from somewhere.”