President Bola Ahmed Tinubu has appointed Nasir Naeem Abdulsalam as the new Managing Director of the Ajaokuta Steel Company. The appointment, which took effect on April 3, 2025, is part of the government’s continued efforts to strengthen Nigeria’s industrial base and enhance its economic diversification plans. The move is seen as an important step in realizing President Tinubu’s vision of transforming Nigeria into an industrial powerhouse in Africa.
Nasir Abdulsalam’s appointment is in line with the provisions of the Certain Political and Judicial Office Holders (Salaries and Allowances, etc.) Act of 2008, as amended, a law that governs the appointment of key officials in government-owned companies. His vast experience in the steel sector is expected to play a crucial role in revitalizing the Ajaokuta Steel Company, one of Nigeria’s most critical but underdeveloped national assets.
Before assuming this new role, Abdulsalam served as the Technical Adviser to the Honourable Minister of Steel Development. In this capacity, he worked closely with the ministry to advance steel development policies and projects in Nigeria. Additionally, Abdulsalam has also served as Special Assistant (Academics) to the Director General of the National Institute for Legislative and Democratic Studies (NILDS), a position that allowed him to build experience in policy research and institutional development.
With these appointments, Abdulsalam brings a wealth of experience to the table. He is expected to leverage his technical expertise and deep knowledge of the steel industry to reposition Ajaokuta Steel Company as a major player in Nigeria’s industrial development. The company, which has long been regarded as a symbol of untapped potential in Nigeria’s industrial sector, has faced numerous challenges over the years, including financial mismanagement, stalled projects, and limited investment.
The Ajaokuta Steel Company was originally established to produce steel and other products essential for the nation’s industrialization. Despite significant investment over the decades, the company has never reached its full production capacity, and its operations have remained largely dormant, much to the disappointment of many Nigerians who had hoped for a thriving steel sector.
President Tinubu’s administration has placed a strong emphasis on the diversification of Nigeria’s economy, focusing on sectors like agriculture, technology, and manufacturing. The appointment of Nasir Abdulsalam comes as part of this broader economic vision, with a particular focus on transforming the steel industry into a key pillar of Nigeria’s industrial agenda.
In his statement regarding the appointment, President Tinubu expressed his confidence in Abdulsalam’s ability to lead Ajaokuta Steel Company through a transformative phase. “I am confident that Mr. Abdulsalam will bring fresh energy, vision, and expertise to the company. His appointment is in line with the Renewed Hope Agenda, which is focused on the diversification of our economy and the revitalization of key industries to drive growth and employment,” President Tinubu said.
The President also tasked Abdulsalam with utilizing his experience in the steel industry to generate significant upstream and downstream industrial activities. This, according to the President, will be crucial in positioning Nigeria as the industrial hub of Africa. The growth of the steel industry, he emphasized, is essential to support other critical sectors such as construction, transportation, and manufacturing.
The steel industry holds immense potential in Nigeria, given the country’s large deposits of iron ore, the primary raw material needed for steel production. Despite this natural advantage, Nigeria’s steel sector has struggled for decades to realize its full potential. Ajaokuta Steel Company, in particular, has been plagued by years of underdevelopment and delays in completing the necessary infrastructure to achieve full operational capacity.
The new Managing Director’s main task will be to overcome these challenges and ensure that the company operates at maximum capacity. Abdulsalam’s mandate includes attracting local and foreign investment, addressing infrastructural gaps, and modernizing the company’s operations to align with global best practices. Additionally, the development of Ajaokuta Steel Company will have a direct impact on Nigeria’s broader industrial ecosystem, creating jobs, boosting local supply chains, and fostering economic growth in other sectors.
Experts believe that revitalizing the Ajaokuta Steel Company is key to the government’s efforts to reduce Nigeria’s dependence on imported steel products. Nigeria currently imports most of its steel, costing the country billions of dollars annually. By developing a domestic steel industry, the country could save money, reduce import dependency, and provide affordable steel for local construction projects.
Beyond economic benefits, a thriving steel sector could significantly contribute to the creation of jobs in Nigeria. The steel industry has the potential to employ thousands of Nigerians directly in manufacturing, processing, and distribution roles. Indirectly, it could also stimulate employment in other sectors, such as logistics, transportation, and service industries, through the growth of local supply chains.
For Abdulsalam, the appointment presents both an opportunity and a challenge. His previous experience as a Technical Adviser in the Ministry of Steel Development gives him valuable insight into the hurdles the steel sector faces in Nigeria, but transforming the Ajaokuta Steel Company into a fully operational and profitable entity will require effective leadership and a clear strategy.
The Nigerian government’s support for Abdulsalam’s efforts is also expected to be crucial. There will need to be sustained political will, investment in infrastructure, and collaboration with private sector partners to ensure the success of the revitalization project. Furthermore, there may need to be policy adjustments and incentives to attract foreign and local investors to the sector, as well as efforts to streamline regulations that currently hinder the growth of the industry.
For many Nigerians, the appointment of a new Managing Director at Ajaokuta Steel Company represents a renewed hope for the long-delayed project to finally come to fruition. In recent years, several government administrations have promised to revitalize the steel industry, but progress has been slow. Abdulsalam’s leadership is seen as a crucial factor in whether Nigeria can successfully tap into the vast potential of its steel resources.
The future of Ajaokuta Steel Company is closely tied to the success of President Tinubu’s broader economic vision. With the right leadership, policies, and investments, Nigeria could transform into an industrial giant in Africa, with a strong steel industry at its core. This transformation would align with Tinubu’s vision of creating a diversified economy, reducing the country’s dependence on oil, and generating employment opportunities for millions of Nigerians.
As the new Managing Director of Ajaokuta Steel Company, Nasir Abdulsalam now faces the challenge of turning this vision into a reality. With the full backing of the government and his experience in the steel sector, he is well-positioned to lead the company toward greater success and contribute significantly to Nigeria’s industrial and economic growth.
