I would highly recommend going to AutoZone and get some lube that does not smell. Engine oil will work and last for a long time. You just need to figure out how to apply it there. I used WD-40 once and it took care of it but it smelled for the first few days and it dried out after couple months or so.
You will find this spot at the end of the steering column inside the cabin, right before it goes inside the engine compartment.
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