The Tinubu Media Support Group (TMSG) has described the 20-year gas supply agreement by the Nigerian National Petroleum Company Limited (NNPCL) and the Ajaokuta Steel Company Limited (ASCL) as a major step toward reviving the long-dormant steel plant.
TMSG also described the move as evidence of President Bola Tinubu’s political will to fulfil a campaign promise made in February 2023.
In a statement on Thursday by its Chairman, Emeka Nwankpa, and Secretary, Dapo Okubanjo, the group said the gas deal has removed a major obstacle to the operation of the plant, which many Nigerians had unfortunately given up on, and restored investor confidence in the project.
The group cited the Minister of Steel Development, Prince Shuaibu Abubakar Audu, that the deal for feedstock to the complex is a game changer in the federal government’s effort to get the plant back to life after decades of inactivity.
“It also reflects NNPCL’s capacity under its new management, especially as it also sealed strategic MOUs, Gas Supply Agreements and Network Entry Agreements with 4 other companies aside from the Ajaokuta Steel Company.
“We are aware that this agreement will ensure the supply of ‘3MMscf/d of Firm Contract Volumes and 47MMscf/d of Interruptible Contract Volumes’ to be used as feedstock for the steel complex.
“So what the Tinubu administration is doing is breathing fresh life into the Ajaokuta Steel Complex to kick-start the industrial revolution that its founding fathers had envisaged when it was established in 1979,” the group said.
TMSG stated that a revitalised Ajaokuta Steel Complex would bring the country closer to unlocking its industrial potential, urging Nigerians to keep faith by trusting the Tinubu administration’s capacity to deliver on its promises.
