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 ajaoktua countries in steel production. The Ajaokuta Steel Project has for years remained as a white elephant, swallowing billions of our scarce resources in project funds without benefit to Nigerians. See What Everyone is Watching.

Nigeria: FG Denies Claims of Selling Ajaokuta Steel Company –

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. 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.

We are here because of our desire to see ajao,uta we can kick-start the process of economic recovery. By using this site, you agree to the Terms of Use and Privacy Policy.

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. My major interest in setting up my plant is to produce new cars in Nigeria. So many probe panels have been constituted to probe the scandal called Ajaokuta.

The resolution followed the passage of the Ajaokuta Steel Company Completion…. Virtually all the nations that are playing big globally have enhanced capacities for steel production.


The industry serves ajaokkta stimulus to national development and economic boost to industrial growth of a country. I am aware of the situation of Ajaokuta Steel Company of Nigeria.

The Lagos-Ibadan Expressway failed concession is another bad another example. 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 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. Steel companies of Nigeria Kogi State establishments in Nigeria Manufacturing companies established in Nigerian company stubs.

These and the other privatised assets were sold without proper due diligence. 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. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

AllAfrica publishes around reports a day from more than news organizations and over other institutions and individualsrepresenting a diversity of positions on every topic. There are funds that are readily available that can be used to bring this project on stream. Abubakar Bawa-Bwari, ajao,uta refusing to appear before the House to address the lawmakers on the state of AjaokutaSteel Company. Liverpool Thrash Arsenal December 30, 1: The idea of having a steel industry was conceived in by stwel federal government.

Late Tafawa Balewa and late Nnamdi Azikiwe between invited and received proposals from foreign firms, including those from UK, U. The Vice President said Ajaokuta is an asset of the Federal Ajaomuta and that they are looking into how best to make good use of that particular complex for stsel benefit of Nigerians at large,” Bello said.

I am aware of the situation of Ajaokuta Steel Company of Nigeria. And that is dangerous for the economy that is already facing some stress. This site uses cookies: I wanted to make prices of cars to come down, so that people can easily buy new cars as they do overseas. This Nigerian corporation or company article is a stub. The nation would then lose the benefits of an Ajaokuta Steel complex that was designed as a basic infrastructure for Steel development thus drives economic development in Nigeria.


Oluwole editor – December 25, 2: Please click here if you are not redirected within a few seconds. 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. To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here.

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.

Video: After 40 years Ajaokuta Steel Company coming back to life ?

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,”. Articles and commentaries that identify allAfrica. Informer Stedl Shehu Shagari laid the foundation stone of an integrated steel plant in Ajaokuta on 24, hectares of sprawling green-field landmass, built on hectares.

Labour, through United Labour Congress of Nigeria, ULC, and Kogi elders on the aegis of Kogi Elders Forum faulted the economic logic underlying the planned sale, describing it as either voodoo economics or prodigal economics. That is the reason why relevant authorities should be vigilant this time before the Ajaokuta Steel Mill is privatised. Read the original article on Guardian. The project was undertaken by the Soviet Union under a cooperation agreement with Nigeria.

InSoviet experts recommended prospecting for iron ore in Nigeria, as the known deposits were of poor quality for steelmaking. December 31, The Ajaokuta Steel Company and other international customers owe the power sector N