ABUJA — The government's plan to revive the Ajaokuta Steel Company depends on a proposed $2 billion production-sharing arrangement with Chinese partners, under which Nigeria would keep ownership. The plant was started in 1979 and has never produced steel commercially. Nigeria needs about 10 million tonnes of steel a year but produces about 1.2 million, mostly from scrap. CPPE's Muda Yusuf has called for a full audit and a public-private equity model.