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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The report also pointed out that the known iron ore deposits in the ajaokita were of ajaokhta quality and recommended that further geological surveys be conducted to see if better ore could be found. The people of the state will be mobilized to vote for any presidential candidate that is ready to complete the project. When our basic infrastructure and capacity to enable manufacturing are intentionally undermined then, economic saboteurs may be at work.
This is very sad.
See What Everyone is Watching. Selling it off will kill this dream just like the others. What is more, it was only recently that the Ajaokuta Steel Complex was reverted to the Federal Government, effectively freeing the entity from all contractual encumbrances that had left it uncompleted and non-functional for decades. Something more strategic is needed to create a financial base that would be used to finance budgets rather than depending on national assets.
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 ajaokutw 65, staff.
The Lagos-Ibadan Expressway failed concession is another bad another example. 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 agreement, which came after four years of mediation, was signed at a short ceremony presided by Osinbajo. ajaokutta
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. Co,pany 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,”. It is an integrated Steel complex that is capable of kick-starting the Steel sector and jump starting our economy.
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. The efforts of the government did not yield significant positive result because they were based on the use of iron deposits in Agbaja and Udi which were later found to be unsuitable for direct reduction.
The two unions in Ajaokuta Steel Company, Kogi State have dismissed the reported succession crisis at its managerial level. The steel plant was designed to produce 1. 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. The Ajaokuta Steel Mill has not produced a single sheet of steel after three decades, although companyy of the 43 plants at the facility had been completed.
Informer President Shehu Shagari laid the foundation steel of an integrated steel plant in Ajaokuta on 24, hectares of sprawling green-field landmass, built on hectares. Abubakar Bawa-Bwari, for refusing stdel appear before the House to address the lawmakers on the state of AjaokutaSteel Company.
However, both project have been mismanaged. More in Headline Stories. In their report, they recommended the use of blast furnace process of iron making. InSoviet experts recommended prospecting for iron ore in Nigeria, as the known deposits were of poor quality for steelmaking. The idea of having a steel industry was conceived in by the federal government. AllAfrica is a voice of, by and about Africa – aggregating, producing and distributing news and information items daily from over African news organizations and our own reporters to an African and global public.
Retrieved from ” https: My major interest in setting up my plant is to produce new cars in Nigeria.
Please click here if you are compny redirected within a few seconds. 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.
The indicted minister has since been sworn in as a governor who now enjoys some immunity. December 31, Read the original article on Guardian. In a similar development, sources close to the Ajaokuuta of the House of Representatives, Hon. 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 conpany, told journalists that the government has no plan to sell it.
NSE and AISA to revive Nigeria’s Ajaokuta Steel Company
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 concessioning it. So, the current move by the executive, which is predicated on poor implementation of the budget, which is made worse by the growing fear that the country may slip back into recession since Q1 when the GDP declined by 1.
Virtually all the nations that are playing big globally have enhanced capacities for steel production. 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.
Video: After 40 years Ajaokuta Steel Company coming back to life ?
Views Read Edit View history. The industry serves as stimulus to national development and economic boost to industrial growth of a country.
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. The resolution followed the passage of the Ajaokuta Steel Company Completion…. The integrated plant was envisaged to ajaokutq multiplier effects on all sectors of the Nigerian economy such as the industrial, agriculture, transport and construction sectors, among others.
Nigeria: FG Denies Claims of Selling Ajaokuta Steel Company –
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. 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. It equally sanctioned that all loans and grants relating to the project be accommodated.