The steel manufacturing industry is said to be the foundation of a good economy for any nation. The Ajaokuta Steel company is supposed to be the turning point of Nigeria's economy. However, it seems like an unrealized dream. Nigeria is said to be among the top 20 countries with iron ore used to make steel, but we are not in the list of top steel producing countries. The problems faced in realizing this dream include corruption in the Nigerian government, international conspiracy and employment factors. These problems have dragged down the nation's economy and contributed to high crime rates and poverty levels. On the following pages you will find an extensive overview, the history of Ajaokuta and the solutions I suggest to some problems. I hope you will be happy to read and gain knowledge. Say no to plagiarism. Get a tailor-made essay on "Why Violent Video Games Shouldn't Be Banned"? Get Original EssayBrief History and Overview of AjaokutaThe iron and steel industry was conceived by the central government in 1958. In any case, due to the growing focus on the accessibility of iron ore in Agbaja, Udi and different parts of the nation, a agreement for the construction of a coordinated steelworks. The late Tafawa Balewa and the late Nnamdi Azikiwe between 1960 and 1966 welcomed and received a proposal from some remote companies, including those from the United Kingdom, the United States, Germany and Canada, most of these concerned the plausibility of the creation of steel plants. The administration's efforts did not yield extremely positive results as they depended on the utilization of iron deposits in Agbaja and Udi, which were later observed by foreign contractors as unsatisfactory for coordinated reduction. In 1967, a group of Soviet specialists arrived in Nigeria to lead the search for the availability of a steel plant, following a specialized/monetary participation pact between the administrations of Nigeria and the USSR. In their report, they prescribed the use of the blast furnace procedure for iron production. The report also noted that the nation's known iron ore deposits were of low quality and suggested that further geographic studies be carried out to see if better ores could be found. In 1968, specialists from the Soviet Union came to Nigeria and after a general topographic examination announced that there were great prospects for more extravagant iron ore and coal deposits in the nation at Ajaokuta. Nonetheless, the national government entered into an agreement in 1970 with a Russian organization, TyazhPromExport (TPE), under which they agreed to provide some machinery to complete a further topographical review to decide the quantity of iron ore and coal reserves in the nation that could be used for the proposed iron and steel industry. In 1973, discrete deposits of metallic iron were found at Itakpe, Ajabanoko and Oshokoshoko, all in the area around Kabba-Okene-Lokoja – hub of Koton Karfe, now in Kogi State. The TPE was tasked with preparing the venture primer report for the proposed iron and steel industry in Nigeria. In 1975, during the reign of Murtala Mohammed, the key enterprise report indicated the raw material base at Itakpe in the Kogi (Ajaokuta) plant site area, first stage generation volume of 1.3 mmt, course of process (blast furnace - basic oxygen reduction furnace), the shape of the product (long items) put together by TPE has been verified, discussed and recognized. TPE was then tasked with drafting thedetailed project report on Ajaokuta which was completed and submitted in 1977. In 1979, Ajaokuta Steel Company Limited (ASCL) or NIOMCO, Delta Steel Company (DSC), among others, were established under Section 2 of the National Council Decree of Steel no. 60 of 19 September 1979 and merged into a Limited Liability Company. In 1980, former president Shehu Shagari laid the cornerstone of a steel mill incorporation in Ajaokuta on 24,000 hectares of vast green land, based on 800 hectares. The steel company has four different types of rolling mills within the plant: the billet mill that produces billets; the light profile mill providing round, square, strip and staple metals. The wire rod mill produces wire poles and reinforcing bars used in the development and generation organizations of nails, fence wire, rope, screws and nuts, and netting; The medium section and structural mill produces parallel channels for plugs, point level, unequal edges and standard channels. The four rolling mills are bigger than Aladja, Osogbo, Katsina and Jos move plants all together, while the coking and by-product plant is bigger than all four Nigerian refineries set up together. From 1980 to 1983, the government completed 84% of the Ajaokuta Steel Plant as the plant's light section mill was charged before the booked date, while the wire rod mill was also shipped in April 1984, before the month expected in December. In 1994, gear and machinery assembly work at the Ajaokuta Steel Plant was 98% complete. Despite all these achievements, it was, however, pitiful that the huge steel mill conceived and built by the pioneers of the past had not contributed to the development of Nigeria. Ajaokuta Steel, which had reached 98% completion as early as 1994, had not created a single steel to date. The coordinated facility was envisioned to have a multiplier impact on all sectors of the Nigerian economy, for example, the modern, agricultural, transportation and development sectors, among others. The steelworks was intended to supply 1.3 million tonnes of fluid steel per year in its phase one, with the implied capacity to increase its production to 2.6 million tonnes of grade iron and steel products in its second phase and in phase three. it wanted to supply 5.2 million tonnes of different types of steel articles, including large plates. Likewise, the steelworks complex has an extremely modern collection of 43 unique plants consisting of a complex iron network, links and appliances of various sizes and capacities. Of the 43 factories, 40 are currently finished and can produce independently. Ajaokuta Steel has the capacity to be a notable manufacturer of mechanical appliances, additional components for electric cars, shipbuilding, railways and transportation. The first phase of the steel mill can provide driving work for 10,000 skilled workers and about 500,000 for upstream and downstream incompetent enterprises if it is in operation. The government had spent more than $10 billion more in 34 years and would need another $2 billion to top up the remaining two percent. South Korea, which began steel development around the same time with Ajaokuta Steel, currently has a revenue base of over N60 billion a year and employs more than 65,000 people. Ajaokuta Steel would have improved the situation if it had started production. According to the World Steel Association (WSA) report, in 2016, South Africa and Egypt produced 6.1 and 5.0 million tonnes of steel respectively, while South Africa is 22nd in the list of steel producing countries, while Egypt is 27th. There.