A former CEO of Ajaokuta Steel Company, Magaji Inuwa, has expressed doubts about the government's ability to revive the Ajaokuta steel project.
Inuwa, who identified financial constraints, lack of commitment and lack of infrastructure coordination as major obstacles, said only a miracle could make the project operational.
The experienced metallurgist and former commissioner revealed this in a recent interview with Daily Trust.
According to him, the Ajaokuta project requires significant private investment which, in his opinion, the government is not capable of making.
He explained that crucial infrastructure needed for the steel complex, such as bridges and rail links, remains incomplete or underutilized.
He highlighted a railway bridge over the Niger River, built during the initial phase of the project, which has not yet been incorporated into the transport network due to the lack of an expanded railway line.
Inuwa further criticized the lack of a standard gauge rail system connecting Ajaokuta to key locations such as Onne Port in Port Harcourt. He highlighted that such connections would be vital for the efficient transportation of materials.
While acknowledging the potential for private investors to intervene, Inuwa expressed skepticism about their willingness to commit the huge financial resources required.
He said: “A lot of private money is needed; the government cannot finance it. They don't have the commitment. And Ajaokuta is too big; It's not about separating it.
“When they were building Ajaokuta, they built two bridges, both across the Niger, one to Benue and the East, and the other, a railway bridge, was built and completed before my appointment. It's still over the water.
”There should be a standard gauge system from the bridge to Onne Harbor in Port Harcourt so that they can unload from big ships. And there should 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, I can't understand how an individual could come and put so much money there.”
As to whether the project would ever see the light of day, he responded: “There will always be a miracle coming from somewhere.”