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Punch·September 8, 2026 at 12:39 AM

Nigeria's Federal Government spent about N7.21bn running the Ajaokuta Steel Company Limited between 2020 and 2025, even as the nearly 50-year-old complex in Kogi State remained largely dormant, according to spending records obtained by Punch. The expenditure covered taxes, statutory obligations, pension and housing-fund contributions, maintenance, road works and other infrastructure payments across 501 transactions, while the country continued to import steel worth about N1tn.

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Ajaokuta SteelNigeriasteel importsgovernment spendingKogi State

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