The purported renewed move by the federal government to sell the Ajaokuta Steel Company will be met with a stiff resistance by Nigerian lawmakers, particularly members of the House of Representatives, who are already spoiling for a showdown over the proposal. The Kogi State Governor, Alhaji Yahaya Bello, who at the weekend led a delegation […]
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The House of Representatives, yesterday, stepped down a Bill seeking to convert the Federal Government’s share of the $322 million recovered loot of former military Head of State, late Gen. Sani Abacha to complete Ajaokuta Steel Company and a rail line linking Ajaokuta from Lagos, Enugu and Port Harcourt. The House, apparently sensing the sensitive […]
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The Federal Government, yesterday, said legal hiccups arising from the decision of a London Court of Arbitration over the ownership of Ajaokuta Steel Complex, are still delaying its efforts to concession the steel plant. The Sole Administrator of the complex, Sumaila Abdul-Akaba, told senators that a 2010 audit report showed that $1.2 billion was required […]
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Thirty-eight years after it was established to launch the country into an industrial era, the Ajaokuta Steel Company Limited has failed to properly take off, despite billions of dollar committed to it, EVEREST AMAEFULE writes. The country requires a total of $1.21bn to put Ajaokuta Steel Company Limited, Nigeria’s integrated steel complex, into production, investigation […]
Read More The first phase of Ajaokuta Steel Company will provide 500,000 upstream and downstream employment when it becomes operational. Mr Isah Onobere, the Sole Administrator of the company, told journalists on Friday that the first phase of the plant would also provide direct employment for 10,000 technical staff when inaugurated. He also said the first phase […]
Read More A Chinese group of firms have shown interest in acquiring Nigeria own Ajaokuta steel company. The group of companies which is into mining, exploration, financing, provision of technologies, commodity exchange and minerals product beneficiation, have indicated their interest to the Minister of State for Solid Minerals, Hon. Abubakar Bwari. Bwari who met with the group yesterday in […]
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NIGERIA’S Minister of Solid Minerals and Steel Development, Dr. Kayode Fayemi, has revealed that the Federal Government had spent over $10 billion on the Ajaokuta Steel Company since its establishment in 1971. Fayemi made the revelation at the budget defence of the Senate joint Committee on Power and Solid Minerals and Steel Development. He regretted […]
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