Ajaokuta Steel: Buhari Raises hope for early Completion.
President Muhammadu Buhari has reiterated his administration’s commitment to revive Ajaokuta Steel Company Limited(ASCL) as part of efforts towards the Country’s industrialisation.
President Buhari stated this in his nationwide broadcast to mark Nigeria’s democracy day celebration.
He said “We remain committed to expanding our mining sector. To this end, I have directed the resuscitation of the Ajaokuta Steel Plant based on Government-to-Government financing and a Public-Private Sector financing.
The Federal Government had recently constituted a committee on revamping of Ajaokuta Steel Company following bilateral discussions that had been held in Sochi, Russia, between the Nigerian and Russian governments.
The committee, Ajaokuta Presidential Project Implementation Team (APPIT), has since swung into action.
The Ajaokuta Steel Project is to be resuscitated on the basis of a government-to-government agreement with funding from the Afreximbank and the Russian Export Centre.
In his reaction to the positive development, the Sole Administrator (SOLAD) Ajaokuta Steel Company Limited, Engr. Sumaila Abdul-Akaba has described the inauguration of the Ajaokuta Steel Presidential Project Implementation Team (APPIT) as the greatest Presidential gift to the Nigerian national economy in recent times.
Speaking with a cross section of the Staff in Ajaokuta, the Sole Administrator, said, the inauguration of the committee, has offered the workers and indeed the Steel industry family a new opportunity to close ranks and make the economic diversification agenda of the President Muhammadu Buhari administration a reality.