The Minister of Steel Development, Prince Shuaibu Audu, has hinted of plans by the Federal Government on a three-year roadmap designed to fully reactivate the ailing Ajaokuta Steel Company to ensure that the billions of Naira invested in it are not wasted. The minister, who disclosed this at the weekend during a media briefing in […]
…..Proposes N4.5Bn Allocation To Firm In 2024 Fiscal Year The Minister of Steel Development, Shuaibu Audu, has initiated moves to source N35 billion from financial institutions to revive the moribund Ajaokuta Steel Company. Audu, in a statement on the latest funding move by the government issued by the ministry’s Chief Information Officer, Tine-Iulun Maureen, was […]
The Minister of Information and Culture, Mr. Lai Mohammed, has disclosed that the Federal Government has concluded arrangement to make final $50 million payment next month to finalize the concession of the $496 million Ajaokuta Steel Company. The minister, in a statement apparently issued to debunk comments recently made by Atiku Abubakar, the PDP presidential […]
Nigeria’s Ambassador to the Russian Federation, Prof. Abdullahi Shehu, on Sunday restated Federal Government’s plans to resuscitate the Ajaokuta Steel Company, one of nation’s largest assets, through new discussions with potential Russian investors. The envoy was quoted by the News Agency of Nigeria (NAN) as giving this hint in Moscow during an interview, recalling that […]
Despite some challenges it is facing of the revitalization of the multi-billion Naira Ajaokuta steel project, the Federal Government on Friday said that ongoing reactivation of the project would be completed within the next two years. The Minister of Mines and Steel Development, Olamilekan Adegbite, set this timely for the re-opening of the moribund plant […]