The Federal Government, yesterday, declared that Ajaokuta Steel Company is in good shape as against recent media reports.

This was contained in a statement signed by the Head, Press and Public Relations Department, Ministry of Steel Development, Salamatu Jibaniya.

The Federal Government, having acknowledged the concerns expressed in the reports, emphatically stated that it remains firmly committed to the development of Nigeria’s steel sector, including the resuscitation of ASCL.

According to the Federal Government, a comprehensive technical and financial audit of the plant is presently underway to ensure that any decision taken is transparent, data-driven and in the best interest of Nigeria.

It added that the overall assessment of the previous technical audit report dated 2018, maintained that the general status of the Steel Plant is in robust condition except for normal deterioration of replaceable parts and recommended automation of manual control systems for improved efficiency.

Meanwhile, the Federal Government, in the statement, noted that the Ministry of Steel Development remains confident that the updated audit will provide a sound basis for decisive action that advances Nigeria’s industrial aspirations.