Ajaokuta’ll Generate $115bn GDP, 70,000 Jobs If Privatised — Economist Unveil

A renowned economist and former Senior Special Adviser to the President of the African Development Bank on Industrialisation, Prof. Banji Oyelaran-Oyeyinka, has said Nigeria could unlock up to $115bn in GDP and create 70,000 jobs if the Ajaokuta Steel Company is revived through privatisation.

In his keynote address at a virtual international conference titled “The Ajaokuta Phenomenon in Tinubu’s Era: A Turning Point or Another Missed Opportunity?”, Oyelaran-Oyeyinka said the steel plant remained critical to Nigeria’s industrial future.

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In a statement on Friday, he said, “This keynote slide tells the story in three numbers — $115bn in GDP gain, $9.1bn in foreign exchange savings, and 70,000 jobs created.

“These are not just statistics; they represent growth, stability, and opportunity for millions of Nigerians. Reviving Ajaokuta is not about steel alone — it’s about reclaiming our economic sovereignty, empowering our youth, and building the foundation of a self-reliant industrial future.”and Continue Your, Reading. .