Ajaokuta’s uncertain future: Nigeria’s steel ambition amid UK deal

Businessday | 31-03-2026 05:18pm |

Nigeria’s decades-long ambition to revive the Ajaokuta Steel Company faces renewed scrutiny as the federal government advances a £746 million export finance deal with the UK. The pact, signed by President Bola Ahmed Tinubu, aims to modernise Lagos’s busiest seaports, but stakeholders say it primarily strengthens Britain’s steel industry. The deal includes a £70 million

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