Ajaokuta Steel Company
Kayode Fayemi, minister of mines and steel development, said that Russia has not indicated interest to invest in Ajaokuta Steel Company. The minister said that the federal govt has demonstrated commitment to revive the company.
A bill to provide for the withdrawal of $1 billion (N360bn) from the excess crude account for the completion of the Ajaokuta Steel Mill project has been passed by the House of Representatives, at its plenary on Wednesday.
The minister of mines and steel development, Kayode Fayemi, said his ministry is yet to hire anyone over for the concession of Ajaokuta Steel Plant. Fayemi lamented that the lawmakers spent a whole day over what has not happened.
The House of Representatives has disclosed plans to open a debate on the Ajaokuta steel company in Kogi state. The debate, which will be held on Thursday, March 1, is part of the efforts to revive the moribund company.
Kayode Fayemi, the minister of mines and steel development, announced Abdul-Akaba Sumaila, as the new acting sole administrator of the Ajaokuta Steel Complex.
The Federal Government says the first phase of Ajaokuta Steel Company will provide 500,000 upstream and downstream employment when it becomes operational.