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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Japan and South Korea, for instance, have no mineral resource for iron and steel, but they rank among the world top 10 countries in steel production. Steel companies of Nigeria Kogi State establishments in Nigeria Manufacturing companies established in Nigerian company stubs. Virtually all the nations that are playing big globally have enhanced capacities syeel steel production. In compaby, President Muhammadu Buhari fulfilled his campaign promise on Ajaokuta steel by settling the legal bottleneck surrounding the companies out of court.
Labour, Kogi elders reject sale of Ajaokuta steel company
Even the House of Representatives, not too long ago reportedly indicted an immediate past minister of Mines and Steel Development who ajakouta to appear before the House.
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InSoviet experts recommended prospecting for iron ore in Nigeria, as the known deposits were of poor quality for steelmaking. The resolution followed the passage of the Ajaokuta Steel Company Completion….
So many probe panels have been constituted to probe the scandal called Ajaokuta. The people of the state will be mobilized to vote for any presidential candidate that is ready to complete the project. On its part, Kogi elders in a statement issued in Lokoja said it would employ constitutional means to stop the sale of the steel company.
The steel plant was designed to produce 1. Such proceeds should be used to fund projects Nigerians should directly benefit from, not the ones to satisfy the greed of the power elite and their cronies. 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.
Nigeria Machine Tools NMT Osogbo ; shows that they have largely exited the steel industry and some turned into Warehouses for imports while a few others are doing skeletal production. It shows that government is merely selling by intuition.
Besides, we do not believe that the proceeds should be used to fund deficit budgetary provisions.
House to Oppose Sale of Ajaokuta Steel Company
Selling it off will kill this dream just like the others. Nigeria that is blessed with raw materials such as iron ore, coal, natural gas and limestones needed for the manufacture of steel is still struggling with what to do with the dormant plant.
Retrieved from ” https: It is an integrated Vompany complex that is capable of kick-starting the Steel sector and jump starting our economy. The Ajaokuta steel that had reached 98 per cent completion as far back as had not produced a single steel till date.
The Vice President said Ajaokuta is an asset of the Federal Government and that they are looking into how best to make good use of that particular complex for the benefit of Nigerians at large,” Bello said. Disclaimer Comments expressed here do not reflect the opinions of vanguard newspapers or any employee thereof. 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.
We are here because of our desire to see how we can kick-start the process of economic recovery. However, because of the growing awareness of the availability of iron ore in Agbaja, Udi and other areas of the country, emphasis later shifted to establishing an integrated steel plant.
Log into your account. The steel plant which has 12, plots large, kilometre road network and another kilometre road network underground, was built four decades ago and has never produced any steel due to the dispute over the ownership of the Ajaokuta Steel Complex and Nigerian Iron Ore Mining Company NIOMCO.
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ANALYSIS: Ajaokuta: How Nigeria’s largest industrial project failed – Premium Times Nigeria
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. Preliminary market studies were carried out and studies were initially directed towards the feasibility of establishing rolling mills. When our basic infrastructure and capacity to enable manufacturing are intentionally undermined then, economic saboteurs may be at work.
The agreement, which came after four years of mediation, was signed at a short ceremony presided by Osinbajo. The Ajaokuta Steel Company and other international customers owe the power sector N Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
Aiaokuta House of Representatives subsequently adopted two bills seeking to prevent the concession of Ajaokuta Steel Company sheel to ensure its completion.
AllAfrica publishes around reports a day from more than news organizations and over other institutions and individualsrepresenting a diversity of positions on every topic. Invest the required fund into Ajaokuta to complete the project and roll it out for the benefit of our nation.
The report also pointed out that the known iron ore deposits in the country were of poor quality and recommended that further geological surveys be conducted to see if better ore could be found. InSoviet geological experts came to Nigeria and after a general geological investigation reported that there ajaokuat high prospects for richer iron ore and coal deposits in the country.
Inthe Nigerian government awarded contracts to the China Civil Engineering Construction Corporation and Julius Berger to repair and complete the railway.
ateel South Korea, which started its steel construction around the same time with Ajaokuta steel now has a revenue base of over N60 billion dollars per annum and employed over 65, staff.
The Lagos-Ibadan Expressway failed concession is another bad another example. 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 contemptuous. The four rolling mills are bigger than Aladja, Osogbo, Katsina and Jos rolling mills put together while the coke oven and bye products plant is bigger than all the four refineries in Nigeria put together.
He also chided the Federal Government for foot dragging on the completion of ajaokutq steel project, saying the outright sale of the plant will not be of interest to the country. While the federal government was planning to reconcession Ajaokuta steel again, stakeholders in the Nigerian Metallurgical Society urged it to complete the remaining two per cent and operate the plant for few years before compnay it.