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You will receive mail with link to set new password. Home News FG inaugurates implementation committee for Ajaokuta steel resuscitation. FG inaugurates implementation committee for Ajaokuta steel resuscitation As Russian Govt. Ajaokuta Steel. The Federal government on Monday kicked off the long awaited resuscitation of the Ajaokuta project with the inauguration of the implementation committee.
President Muhammadu Buhari brokered the new deal with his Russian counterpart, Vladimir Putin, during his visit to Russia in October Federal government said it was mindful of the existence of some legal challenges, but assured that the legal challenges would have been resolved before the company commences full scale operations.
Mines and Steel developments Minister, Olamilekan Adegbite acknowledged the challenges, but asdured that all the legal issues will be resolved. Now we are working with the Russian government, to commence local production using the abundant raw materials available in Ajaokuta. It is taking a while because of government-to-government and the protocols and bureaucracies involved. It is worth it and we will get it right. The corporate body went to arbitration.
We are trying to extricate ourselves. We according re trying to do a cordinates settlement on that. The legal issue is being addressed by the office of the Vice President and other issue of revitalisation ongoing.
Secretary to the government of the Federation, SGF, Boss Mustapha, who inaugurated the committee said it will culminate in pushing forward the economic diversification agenda of the government. The Ajaokuta Steel plant had languished for about four decades while previous efforts at reviving it had proved abortive.
The current phase resulted from the bilateral discussions in Sochi, Russia, in October, last year, during which it was agreed that the Ajaokuta Steel Project should be resuscitated on the basis of a Government-to-Government agreement with funding from the Afreximbank and the Russian Export Centre. Mustapha said preliminary works have commenced to determine parameters for effective and coordinated take-off of rehabilitation works on the Steel plant.
Elegba S. The SGF said the Committee is expected to prepare and submit a periodic work plan along with quarterly progress reports on assignment activities, end-of-assignment report and develop concession contract terms.
The committee was therefore asked to focus attention on the periodic work plan and quarterly progress reports and an end-of-assignment report, briefing Materials for participating in road infrastructure development and Roundtables and Road-Show events. You might also like More from author. Prev Next. More Stories. Jun 4, Prev Next 1 of Log in. Remember me. Reset password. Sign in. Welcome, Login to your account. Forget password? Sign in Recover your password.
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Ajaokuta Steel: Reviving Nigeria’s failed industrial project
Olamilekan Adegbite, Nigeria's Minister of Mines and Steel, who disclosed this on Monday, said the government meant to bring back on stream the steel rolling mill which was down since the late Nigerian President Shehu Shagari regime. While addressing the management staff of the agency, the minister said once the Russian contractors to handle the resuscitation of the Ajaokuta Steel Rolling Mill were identified, the MoU would be signed and work would commence earnestly. Adegbite said funds for the resuscitation of the steel mill is already in place, adding that a committee has been set up to kick-start the project. The minister, however, directed the head of the National Steel Raw Material Agency, Umar Hassan to nominate two persons to be part of the committee, saying that the agency was critical to the Ajaokuta project. Hassan said the agency saddled with the responsibility of mining and exploration in the country, was constrained by inadequate skills, inadequate project vehicles, modeling software as well as dilapidated offices. Nigeria plans to contract Russian firm in reviving steel company Source: Xinhua Editor: Xiaoxia. Video Player Close.
Ajaokuta Steel Mill
Three-quarters of the complex have been abandoned, and only the light mills have been put into operation for small-scale fabrication and the production of iron rods. The project was undertaken by the Soviet Union under a cooperation agreement with Nigeria. In , Soviet experts recommended prospecting for iron ore in Nigeria, as the known deposits were of poor quality for steelmaking. In , iron ore of the required quality was discovered in Itakpe, Ajabanoko, and Oshokoshoko. However, both projects have been mismanaged. The Ajaokuta Steel Mill was still unfinished four decades after construction began.