Ajaokuta Steel Signs 20-Year Gas Deal with NNPCL

Ajaokuta Steel Company Limited signed a 20-year Gas Supply Agreement and Memorandum of Understanding with the Nigerian National Petroleum Company Limited (NNPCL) to secure an uninterrupted fuel source for its operations. The deal, secured by CEO Prof. Nasir Abdulsalam, addresses a critical energy requirement that has served as a primary obstacle to production for 46 years.

This agreement aligns with President Bola Ahmed Tinubu's Renewed Hope Agenda, which emphasizes industrialization and economic diversification. By removing the gas supply barrier, the company aims to increase investor confidence and facilitate a transition to full-scale production.

The revitalization of the plant is expected to reduce Nigeria's dependence on imported steel and generate thousands of new jobs. The project marks a significant step in reviving one of Africa's largest integrated steel complexes.