Energy and Power
Ajaokuta steel: Minister speaks on fresh challenge facing the plant

The Minister of Mines and Steel Development, Olamilekan Adegbite, said that a technical audit of the Ajaokuta Steel Plant in Kogi State was delayed due as a result of the coronavirus pandemic.
He said that the original audit plan was three months beginning from March to June, so that government would know the cost of resuscitating the moribund plant, but has been altered.
Speaking at a virtual conference organised by the Nigerian British Chamber of Commerce on Thursday, Adegbite said that the evaluation would start afresh in July for another three months.
He explained that the initial agreement reached by the President Buhari administration with Afrexim Bank and Russian government to revive the plant in build, operate and transfer model would work, insisting that different options which had been explored in the past to revive the steel plant had failed.
The minister stated that Afrexim Bank had pledged $1bn towards the project while Russia Export Centre would contribute $450m to the completion of the plant.
Ajaokuta Iron and Steel is located in Kogi State in the North Central Nigeria.
-
News3 months ago
Breaking: Bello appoints Ohinoyi of Ebira Chairman, Kogi Council of Chiefs
-
News1 month ago
Confusion in ISWAP, B’Haram camp, as top commanders eliminated in military’s fire power [Pictures]
-
News2 months ago
El-Rufai fires Kaduna Road agency MD, Magaji over alledged embezzlement of N3 billion
-
News3 months ago
Amid endless salary cut, Bello takes delivery of Mercedes Benz S class, 2019 model worth N98 million
-
Opinion2 months ago
Attah Igala stool: Alhaji Yahaya Bello must watch his Deputy closely
-
News1 month ago
Israeli’s IDF craziest operation that got the world ‘ever wondered’
-
News2 months ago
Crisis looms as outgoing IGP, Adamu secretly disposes multi-billion naira police officers mess to private developer in Lagos
-
News4 weeks ago
US Senate overwhelmingly votes to make embassy in Jerusalem permanent