Stella Dimoko Korkus.com: Federal Government Reportedly Takes Over Ajaokuta Steel

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Tuesday, August 02, 2016

Federal Government Reportedly Takes Over Ajaokuta Steel

The Federal Government  has taken over the ownership of the Ajaokuta steel plant.....





Also, the government yesterday took a major step in its plan to revitalise the steel sector as it signed a renegotiated concession agreement with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company (NIOMCO), Itakpe.


With the new agreement, Ajaokuta Steel Complex has now reverted to the Federal Government, effectively freeing the entity from all contractual encumbrances that had left it uncompleted and non-functional for decades, while GSHL retains NIOMCO.



Senior Assistant Media to Minister of Solid Minerals,  Yinka Oyebode, who  made the disclosure in a press statement, said  the new agreement, which came after four years of negotiation, was signed at a short ceremony presided over by the Vice President, Prof Yemi Osinbajo, yesterday at the Villa.

The Nation.





17 comments:

  1. Clueless bunch of dullardinho.

    ReplyDelete
  2. This will help reduce unemployment and also help develop that side of the country. However, ss laudable as this might be, I am afraid we don't have the infrastructure to make it work.

    ReplyDelete
  3. Very well then, good development

    ReplyDelete
  4. If only something good comes out of it.






    #Vikenx

    ReplyDelete
  5. dis is good...hope it will come alive very soon...so it can help reduce d rate of unemployment

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  6. Noone needs a steel factory anymore

    ReplyDelete
  7. This administration lacks direction...just doing mumbo jumbo.
    On a side note I am beginning to dislike Your View bcos of UWA

    ReplyDelete
  8. Hmmmm....okay o. i pray this helps revive aja-steel

    ReplyDelete
  9. Anonymous 10:47 you are obviously a very dull fellow who knows nothing. I wonder why dullards like you speak at all

    ReplyDelete

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