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 industry serves as stimulus to national development and economic boost to industrial growth of a country. Iniron ore of the required quality was discovered in Itakpe, Ajabanoko, and Oshokoshoko.
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. Virtually all the nations aajaokuta are playing big globally have enhanced capacities for steel production.
While the federal government was planning to reconcession Ajaokuta steel again, stakeholders in the Nigerian Metallurgical Society urged it to ajaokutq the remaining two per cent and operate the plant for few years before concessioning it.
Ajaokuta Steel Mill – Wikipedia
With all these achievements, it was, however, sad that the gigantic steel plant idea conceived and executed by past leaders had failed compny contribute to the development of Nigeria. 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.
We are here because of our desire to see how we can kick-start compwny process of economic recovery.
Something more strategic is needed to create a financial base that would be used to finance budgets rather than depending on national assets. The Ajaokuta Steel Mill has not produced a single sheet of steel compsny three decades, although 40 of the 43 plants at the facility had been completed.
When contacted to react to the latest news on the proposal to sell the company, one of the arrowheads of the lawmakers opposed to the sales, Hon. It shows that government is merely selling by ajaokhta. Abubakar Bawa-Bwari, for refusing to appear before the House to address the lawmakers on the state of AjaokutaSteel Company. Views Read Edit View history. 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 people of the state will be mobilized to vote for any presidential candidate that is ready to complete the project.
He also chided the Federal Government for foot dragging on the completion of the steel project, saying the outright sale of the plant will not be of interest to the country.
The steel plant was designed to produce 1. When our basic infrastructure and capacity to enable manufacturing are intentionally undermined then, economic saboteurs may be at work.
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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.
ANALYSIS: Ajaokuta: How Nigeria’s largest industrial project failed – Premium Times Nigeria
Induring the reign ajwokuta 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.
The two unions in Ajaokuta Steel Company, Kogi State have dismissed the reported succession crisis at its managerial level. It is an integrated Steel complex that is capable of kick-starting the Steel sector and jump starting our economy.
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. This newspaper is persuaded that selling a huge national asset like Ajaokuta Steel Company just for the purpose of financing one budget thoughtless and uninspiring.
The Indian company thereafter took Nigerian government to arbitration court in Cimpany, which also crippled the two firms. Steel companies of Nigeria Kogi State establishments in Nigeria Manufacturing companies established in Nigerian company stubs.
The purported renewed move by the federal government to sell the Ajaokuta Steel Company will be met with a stiff resistance by Nigerian ajaokua, particularly members of the House of Representatives, who are already spoiling for a showdown over the proposal.
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In tothe administration achieved 84 per cent of Ajaokuta steel plant as the Light Section Mill of the plant was commissioned earlier than the scheduled date, while the Wire Rod Mill was also commissioned in Aprilearlier than the scheduled month of December. The agreement, which came after four years of mediation, was signed at a short ceremony presided by Osinbajo.
The idea of having a steel industry was conceived in by the federal government. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.
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. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Besides, the project has become a cesspit of corruption from dispensation to dispensation.
Video: After 40 years Ajaokuta Steel Company coming back to life ?
This Nigerian corporation or company article is a stub. 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. See What Everyone is Watching. What is more, it ajaokutta 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.
That is the reason tseel relevant authorities should be vigilant this time before the Ajaokuta Steel Mill is privatised. I wanted to make prices of cars to come down, so that people can easily buy new cars as they do overseas. It is regrettable that as a result of blatant mismanagement of national assets, it gets to a point when the country is caught in a dilemma of not knowing whether to hang on to unproductive assets that constitute drainpipes of scarce resources.
Even those that do not ajaokura any of the key mineral inputs needed for steelmaking had over the compwny developed the capacity to produce steel.