Tag "Ajaokuta Steel Company"

    FG budgets N4bn for Ajaokuta steel, another N310m for its concession

FG budgets N4bn for Ajaokuta steel, another N310m for its concession

The federal government earmarked N3.79 billion for Ajaokuta Steel Company in the 2020 budget. According to budget documents seen by TheCable, N3.607 million of that amount would be for recurrent expenditure during the year while N188.5 million would go into capital expenditure. Some of the key highlights from the budget include N94.1 million for provision of water facilities, N43 million for maintenance [...]

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    Ajaokuta steel completion suffers setback as Buhari rejects funding bill

Ajaokuta steel completion suffers setback as Buhari rejects funding bill

President Muhammadu Buhari has rejected a bill seeking to stop the concession of Ajaokuta Steel Company. Buhari announced his decision to withhold assent to the bill via a letter read during senate plenary on Tuesday. The bill for an act to provide for the Ajaokuta Steel Company completion fund was passed by the house of representatives in March, 2018, and by the [...]

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    FG: Why Ajaokuta steel company is not yet functioning

FG: Why Ajaokuta steel company is not yet functioning

Abubakar Bwari, the minister of state, mines and steel development, says the Ajaokuta Steel Company is not yet functioning because the infrastructure required such as rail, dredging of Lokoja and Warri ports are yet to be completed. He made this known on Monday while giving a three-year account of stewardship (2016-2018) on Monday in Abuja. "Ajaokuta is 98% completed. Everything is in [...]

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    301 reps sponsor bills to halt concession of Ajaokuta steel

301 reps sponsor bills to halt concession of Ajaokuta steel

Two bills seeking to stop the concession of Ajaokuta steel company scaled second reading at the house of representatives on Thursday. They include a bill for an act to provide for the Ajaokuta Steel Company completion fund and a bill for an act to amend the public enterprise privatisation and commercialisation act. Nkem Uzoma from Abia state and 300 other lawmakers are sponsoring [...]

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    Reps ask Fayemi to channel his complaints to committee on Ajaokuta Steel Company

Reps ask Fayemi to channel his complaints to committee on Ajaokuta Steel Company

The house of representatives has asked Kayode Fayemi, minister of mines and steel development, of abusing his office with his conduct regarding the Ajaokuta Steel Company. In a statement on Friday, the house maintained its stand that the minister is allegedly trying to concession the company “through the back door”. On Thursday, Fayemi described as false the lawmakers’ claim that the transactional [...]

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    ‘No going back on concession of Ajaokuta plant’ — FG dares house of reps

‘No going back on concession of Ajaokuta plant’ — FG dares house of reps

The federal government says it will no longer spend a dime on Ajaokuta steel plant located in Kogi state. Kayode Fayemi, minister of mines and steel development, said this at a press conference in Abuja on Thursday. He said the government will go ahead with plans to concession the company, a move the house of representatives had opposed. Yakubu Dogara, speaker of the [...]

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    Dogara: Ajaokuta steel abandoned after gulping $5.1bn… are we bewitched by sorcerers?

Dogara: Ajaokuta steel abandoned after gulping $5.1bn… are we bewitched by sorcerers?

Yakubu Dogara, speaker of the house, says the total amount of $5.1 billion has so far been invested in the Ajaokuta steel company located in Kogi state. Dogara, therefore, condemned reported moves to concession the company, wondering if Nigeria has been “bewitched by some powerful sorcerers”. Dogara said this on Thursday while speaking at the sectoral debate organised by the house of [...]

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Dogara: Concessioning Ajaokuta steel plant would mean giving up on Nigeria’s future

Yakubu Dogara, speaker of the house of representatives, says the national assembly will resist any move to concession Ajaokuta Steel Company Limited. He said concessioning the company would amount to “concessioning Nigeria's future.” Dogara said this on Monday when he led members of the house committee on steel to the company in Kogi state. The steel company has been under construction since 1979 [...]

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    Many geologists are riding ‘Okada’, says UI prof

Many geologists are riding ‘Okada’, says UI prof

Olugbenga Okunlola, a professor of geology at the University of Ibadan, says most of the geologists in the country are not practising what they studied in school. Okunlola, a board member of the Nigeria Extractive Industries Transparency Initiative (NEITI),  made the statement at the south-west zonal stakeholders' workshop of the agency in Abeokuta. He went down memory lane, tracing the origin of [...]

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    Ajaokuta steel plant ‘to provide 500,000 jobs’ when operational

Ajaokuta steel plant ‘to provide 500,000 jobs’ when operational

The federal government says the first phase of Ajaokuta steel company will provide 500,000 upstream and downstream employment when it becomes operational. Isah Onobere, the sole administrator of the company, made this known on Friday. Onobere said that the first phase of the plant would also provide direct employment for 10,000 technical staff when inaugurated. He also said the first phase had been [...]

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    110mw Ajaokuta power plant to come alive again

110mw Ajaokuta power plant to come alive again

Ajaokuta Steel Company Ltd (ASCL) has signed a Memorandum of Understanding (MoU) with 3D-High Tech Systems Ltd, for the reactivation of its 110MW thermal power plant. Signing on Friday on behalf of the company, Joseph Onobere, sole administrator of ASCL revealed that the objective of the MoU is to generate energy for the steel plant and for sale to the national [...]

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March 25, 2019USDGBPEUR
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