Nigeria Has Three Billion Tonnes of Iron Ore Ready for Ajaokuta, Says NSRMEA DG

Nigeria possesses an estimated three billion tonnes of iron ore reserves, a strategic asset capable of driving industrialization and reducing dependence on imported steel. The National Steel Raw Materials Exploration Agency (NSRMEA) assured that raw material availability will not hinder the Ajaokuta Steel Complex once it begins production.

Kolawole Ogunbiyi, Director-General of NSRMEA, highlighted the agency's preparedness to support the steel industry's revival. He stated that extensive geological exploration has confirmed abundant deposits of iron ore, limestone, and coal, essential for steel production. The Itakpe iron ore deposit in Kogi State is particularly noted for its high iron content and low impurity levels, making it ideal for steel manufacturing.

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The iron ore in Itakpe has no equal, both in quality and quantity. It has been subjected to laboratory tests to determine how viable and suitable it is for the steel rolling plant.

Despite these rich reserves, mining activities remain below potential because the Ajaokuta Steel Complex, the primary consumer of the ore, has not commenced full commercial operations. Ogunbiyi explained that the original plan assigned the National Iron Ore Mining Company (NIOMCO) the responsibility of supplying ore to Ajaokuta for processing. The underutilization of Itakpe's iron ore is directly linked to the lack of off-takers like the Ajaokuta Steel Plant.

Ogunbiyi also mentioned that while Nigeria has large coal deposits in Obi-Lafia, Nasarawa State, further exploration is needed to confirm their commercial viability. Limestone deposits, currently licensed mainly for cement production due to Ajaokuta's inactivity, are also available in sufficient quantities for future steel manufacturing. The federal government, with Russian experts, previously conducted surveys confirming these deposits.

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The abundance of iron ore in Itakpe cannot be fully utilised because there are no off-takers like the Ajaokuta Steel Plant, which requires a significant portion of the raw materials to produce steel.