The Minister of Steel Development, Shuibu Audu says the minimum required funds for the revitalization of Ajaokuta Steel Company is about two billion dollars that could rise to well over five billion dollars which will cover not just the plant and equipment but things that have to do with the infrastructure.

Audu stated this on Thursday during an interactive session with the House Committee on Steel Development.

He noted that the Federal government may not be able to fund Ajaokuta Steel project through budgetary provision, but can achieve the funding through reprivatize capital investment where about Five thousand Nigerians will benefit from the revitalization of the project.

Chairman of the Committee, Hon. Zainab Gimba while commending the efforts made so far by the Ministry called for assessment of the previous audit technical report before embarking on a 2billion dollar loan to revive the Steel Company.