Ajaokuta Steel Company Limited (ASCL) popularly known as Ajaokuta Steel Mill is Nigeria’s largest steel plant located in Ajaokuta, Kogi State, Nigeria. A report the other day that the Federal Government was ready to offer the Ajaokuta Steel Mill for sale to finance budget is curiously casual and. A report the other day that the Federal Government was ready to offer the Ajaokuta Steel Mill for sale to finance budget is curiously casual.
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Articles and commentaries that identify allAfrica. Induring the reign of Murtala Mohammed, the preliminary project report specifying the raw materials base at Itakpe in Kogi plant site location Ajaokuta1st phase production volume 1.
The Kogi State Governor, Alhaji Yahaya Bello, who at the weekend led a delegation to Vice President Yemi Osinbajo to confirm the veracity of the reported planned sale of the national asset, told journalists that the government has no plan to sell it. Disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof. This Nigerian corporation or company article is a stub. The House of Representatives subsequently adopted two bills seeking to prevent companyy concession of Ajaokuta Steel Company and to wjaokuta its completion.
There should be due diligence to ensure that the buyers have enough capacity and resources to complete the project and make it functional — to fulfill its original purpose for the nation.
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South Korea, which started its steel construction cmopany the same time with Ajaokuta steel now has a revenue base of over N60 billion dollars per annum and employed over 65, staff.
Labour, Kogi elders reject sale of Ajaokuta steel company – Vanguard News Nigeria
Specifically, the power sector privatisation has become a huge failure, as buyers have proved incapable of managing the legacy companies they purchased from Power Holding Company of Nigeria PHCN in The Wire Rod Mill produces wire rods and rebars used in construction companies and production of nails, fencing wire, rope mesh, bolts and nut and netting and the Medium Section and Structural Mill produces parallel flange channels, equal angles, unequal angles and standard channels.
This is very sad. To enable commenting and other interactive features, please switch to the more advanced. The two unions in Ajaokuta Steel Company, Kogi State have dismissed the reported succession crisis at its managerial level. Even the House of Representatives, not too long ago reportedly indicted an immediate past minister of Mines and Steel Development who refused to appear before the House.
The stakeholders also urged government to provide clear and articulated plan for the development and growth of metal production sector as the struggle for functional steel company in Nigeria continued.
But the sale must be transparent, especially as history of privatisation in the country has been disastrous. Even those that do not have any of the key mineral inputs needed for steelmaking had over the years developed the capacity to produce steel.
December 30, 4: It is also on the cart, first for a total review of the process of privatisation and payment, so that our aluminium sector can eventually come alive,”. Informer President Shehu Shagari laid the foundation stone of an integrated steel plant in Ajaokuta on 24, hectares of sprawling green-field landmass, built on hectares.
I am aware of the situation of Ajaokuta Steel Company stee Nigeria.
Virtually all the nations that are playing big globally have enhanced capacities for steel production. The resolution followed the passage of the Ajaokuta Steel Company Completion….
ANALYSIS: Ajaokuta: How Nigeria’s largest industrial project failed – Premium Times Nigeria
Besides, the project has become a cesspit of corruption from dispensation to dispensation. The statement also deplored the state of Federal roads in the state, calling on the Federal Road Maintenance Agency to move in and get them fixed as soon as possible.
The modified seven-year concession agreement was signed on August 1,while the federal government took over the Ajaokuta steel. I wanted to make prices of cars to come down, so that people can easily buy new cars as they do overseas. Invest the required fund into Ajaokuta to complete the project and roll it out for the benefit of our nation. In a similar development, sources close to the Leader of the House of Representatives, Hon. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
The idea of having a steel industry was conceived in by the federal government.
House to Oppose Sale of Ajaokuta Steel Company
InSoviet experts recommended prospecting for iron ore in Nigeria, as the known deposits were of poor quality for steelmaking. More in Headline Stories. Receive News Alerts on Whatsapp: The Ateel steel that had reached 98 per cent completion as far back as had not produced a single steel till date. Official website not in Wikidata All stub articles.