Why Ajaokuta Steel Company won’t function immediately – Minister

Minister of Solid Minerals, Kayode Fayemi

The Minister for Solid Minerals Development, Kayode Fayemi, has said that the Federal Government would need to clear all legal hurdles surrounding the Ajaokuta Steel Company Limited for it to begin to function.

The minister stated this while defending the 2016 Budget proposal of the ministry before the Senate Committee on Power and Steel on Tuesday.

He said it would not be in the national interest to leave the complex the way it is given President Muhammadu Buhari’s determination to see it up and working in the shortest possible time.

Mr. Fayemi decried the trillions of naira spent annually on steel importation into the country and assured that the resolution of the legal issues surrounding the National Steel Industry would be accorded top priority in the year.

The chairman, Senate Committee on Power and Steel, James Manager, said that the development of any nation is tied to a vibrant steel sector.

He urged the minister to tell Nigerians more about Ajaokuta and use publicity to attract interest towards the company.

The senators stressed the need to raise the revenue profile of the agencies under the ministry, tackle the legal challenges around the steel industry, and explore the Public Private Partnership option in getting the sector to be up and running.

They also urged the ministry to commence any necessary legislative process that would aid its work before the year runs out.


DOWNLOAD THE PREMIUM TIMES MOBILE APP

Now available on

  Premium Times Android mobile applicationPremium Times iOS mobile applicationPremium Times blackberry mobile applicationPremium Times windows mobile application

TEXT AD: Revealed!!! The Only Way Left of Getting an Extra Large Manhood and also Last Up to 38Mins+. Get the Insider Secret Here


TEXT AD: This NAFDAC APPROVED Solution Will Make You Stay Longer Than 40Mins In Bed Tonight And Help Your Erection. Click Here To Read The Free Reports


All rights reserved. This material and any other material on this platform may not be reproduced, published, broadcast, written or distributed in full or in part, without written permission from PREMIUM TIMES.


  • Artful ºDodger

    There is no rocket science here. If anyone has paid for the plant and is not running it, refund their money less taxes that would have accrued to the government since they acquired the plant and take over the place. Its as simple as that. There is no reason to go on in legal limbo that will drag forever while the plant idle away in rot. Use your brains!

    • Du Covenant

      The person that bought it must also bring back the equipment he stripped off to other locations in India and around the globe!.

    • TAWANDA INCOMMUNICADO

      The Buhari dictatorship lacks ideas,they cannot give what they simply do not have,he came for political vendetta against foes and he is dishing it out in the guise of anti-corruption,in that case he is giving what he had in mind but if you are expecting progress in the economy or a reduction in the suffering of the ordinary citizen….forget it,the man is empty in that respect.

    • Vic

      Dear Sir, Please can you accept a 1982 model car if given to you even for free today?? Let us note that most of our interventions in state matter on these forums are too guided by ignorance, emotions and bias. the steel making technology has changed since 1982 when ajaokuta was conceived and that plat can never produce competitive steel today or at anytime in the future. Scrapping will be the proffered route. Thanks

  • favourtalk

    All those that are involved in the scam against the unity of Nigeria. They will surely suffer, Nigeria will move forward. We shall win over the corruption in all system that GEJ and PDP brought to our system.

  • TAWANDA INCOMMUNICADO

    This Buhari government is a stand-still regime only looking for blame and all sorts of excuses to justify the total comatose in governance being experienced in Nigeria as we speak. The fraudulent budget did not give priority to projects like steel production rather it gave enough attention to the excesses of Buhari’s personal life like the maintainance of his fleet of executive jets, food, Aso-rock clinic, new fleet of cars, rampant travelling expenses etc.

    Nigerians have eyes but are yet to start using them,they fraudulently sold us “changi” yet they doubled up on the status-quo as it were. !!

    • Julius

      Tawanda, how much do you think the money stolen by Jonathan and his troops would have done for Nigerians if it has been spent to better the lives of the people ? Im assuming you can no longer defend what Jonathan and his administration did

    • tundemash

      So the budget of PDPigs that gave priority to steel production took us to where after 16 years ???? Dunce.
      President Buhari has told you wailing wailers, he’s a slow and steady man. He is determined to recover your destiny stolen by the PDPigs and slowly rebuild your life back. You were in a hole for 16 years and just when someone comes around to help u out of the ditch , you are complaining he doesn’t know what he’s doing. Dunce !

      • TAWANDA INCOMMUNICADO

        Nigerians have already had enough of a President who cannot think outside the box . Buhari should put up or ship out.

  • The facts

    Did the law makers bother to ask the minister why he wanted to spend almost 800million on the ministry’s website?