According to the proposed 2025 budget, the Federal Government has budgeted N6.21bn for salaries of workers of the moribund Ajaokuta Steel Company for next year.

$35bn Required to Execute Concrete Road Projects - Umahi   The Minister of Works, David Umahi, has revealed that the government needs $35bn to kick start the construction of concrete roads nationwide. He also stated that the moribund Ajaokuta steel company will provide 16 per cent of...

Russia, Afreximbank To provide $1.46bn For Ajaokuta Completion   The Federal Government has said the Russian government and Afreximbank will provide up to $1.46bn to fund the resuscitation of the Ajaokuta Steel Company Limited. The Minister of Mines and Steel Development, Olamilekan Adegbite, who disclosed this in...

Ajaokuta Steel: Reps Probe Nigeria’s Deal With Russia   The House of Representatives has begun investigation of the deal Nigeria signed with Russia on the resuscitation of the Ajaokuta Steel Company, alleging that details of the contract were not known to Nigerians. The House resolved to carry...

FG Earmarks N3.79bn For Ajaokuta Steel Company   The Federal Government has allocated a total of N3,796,479,657 to the Ajaokuta Steel Complex for 2020. The company has yet to commence full operations several years after it was conceived to drive massive industrialisation in the country. Checks by our...

MAN, Others Tell FG To Sell Ajaokuta Steel Company Manufacturers and experts have said privatisation of Ajaokuta Steel Company will yield better dividends than the facility being run by the government. They spoke with our correspondent in separate interviews, maintaining that government-run business had never turned...