The Nigerian Institution of Metallurgical, Mining and Materials (NIMMME) has disclosed that the Ajaokuta Steel Company when working in its full capacity can generate about 600,000 jobs in the country.
This disclosure was made by the NIMMME National Chairman, Engr. Dr Ayodeji Adeyemo during his investiture and public lecture as the new chairman of the association in Abuja.
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Adeyemo stated the importance of reviving Ajaokuta steel company because when about 600,000 jobs are generated, the economy will be better.
“Mining is tasking and you need huge investment. However, when you know what you are going to get is profitable, you can take the risk. For example, Ajaokuta Steel Company can generate over one 100,000 directly and indirectly 500,000. If 600,000 jobs are generated, the economy will be better. As you expand, you employ more,” Adeyemo said.
Recall that Nairametrics reported when a proposal to rejig the services of the long-abandoned Ajaokuta Steel was tabled before the Federal Government by MetProm Group, a Russian firm. This was made public after a meeting between a delegation of Russian officials and the Ministry of Mines and Steel Development.
It was made known that the Ajaokuta Steel was burdened by some ‘outstanding infrastructural issues’, and if the steel company is to resume operation, the Federal Government will have to address the issue. This is why the Russian firm’s proposal to rehabilitate and maintain the steel mill was welcome.
What you should know: If the steel mill is rehabilitated and revived, jobs will be created and the challenge of unemployment will be eased up in the country. Reports according to the Social Integrity Network (SINET) have it that Nigeria lost one million tons of steel manufacturing products and about 30,000 jobs between 2017 and now.