BY REUBEN AYODELE


Ajaokuta Steel Company
Nigeria is blessed country with abundant human and natural resources. Iron ore Is the raw material for making steel .Ajaokuta is a steel company that is located in Kogi state precisely in the central senatorial district of the state.Ajaokuta steel company was conceptualize by former president shehu shagari in 1979 but the inauguration of the steel company was in 1983.
Iron ore are rocks from which metallic iron can be economically extracted. Iron ore is one of the most abundant rocks forming element, constituting about 5% of the earth crust. The importance of iron cannot be over emphasized. It is the most important commodity after oil; it is the fourth most abundant elements in the world after oxygen, silicon and aluminum.
Modernization and industrialization depends on iron ore that is why the Ajaokuta steel company deserve the most important attention, if Nigeria is to be taking seriously about it’s becoming one of the 20 top economy by the year 2020.
Since inception Ajaokuta steel Company has been a moribund company, which has become a protracted national embarrassment. Ajaokuta has gulp close to $5 billion of our common wealth since it was founded .Ajaokuta was a company which was formed to project Nigeria towards industrial revolution. Yet it as been the bane of monumental waste and corruption from successive rudderless policies of government, who have refused to key in into the founding ideas that gave birth to this neglected steel company.
Iron and steel are very importance variables any country needs if it truly wants to develop.98% of world iron ore production is used to make iron in the form of steel. Example iron ore provided the foundation for Australia major export and economic development.
Australia is the third largest exporter of iron ore after China and Brazil which accounted for the developmental status accorded these developed countries. Iron and steel are the most used mental in our lives, every home no matter their economic status of the family have one form of iron and steel instrument. Iron ore is essential for the production steel which in turn is essential to maintain strong industrial base.
Iron can be used to generate electricity, most of the components use in the power sector are gotten from iron, iron contribute to the gas industry, automobile industry, construction industry and every sphere of life. Most importantly the Ajaokuta steel company can generate close to five hundred thousand jobs including skilled, semi-skilled and unskilled work force.
There are ready markets willing to tap into this critical sector of the economy, like the general industrial sector which encompasses every engineering aspect and technical aspect of human endeavors.

However, as good as this project Ajaokuta steel company is power supply is still a major challenge. Without power steel mill cannot function that is why the onion is now on the president-elect, General Muhammadu Buhari to fulfill his promise to Kogi state and Nigeria in general that he will revamp, restructure and bring back Ajaokuta steel company to life. Doing this will diversify Nigeria economy and open up Nigeria to the world which will invariably create jobs to the teeming unemployed Nigeria youths across tribes, religion and political divides .Because poverty does not recognized race, gender or religion .General Muhammadu Buhari change administration should urgently take action because the dream of making ajaokuta steel company the industrial hub of Nigeria and Africa is fading away daily. This sleeping lion of Africa must wake up.

Source:http://bnaijatalks..com/2015/05/by-reubenayodele-ajaokuta-steel-company.html

I rep diversification of the nigeria economy