Ajaokuta Steel Company Limited (ASCL) popularly known as Ajaokuta Steel Mill is Nigeria’s largest steel plant located in Ajaokuta, Kogi State, Nigeria. A report the other day that the Federal Government was ready to offer the Ajaokuta Steel Mill for sale to finance budget is curiously casual and. A report the other day that the Federal Government was ready to offer the Ajaokuta Steel Mill for sale to finance budget is curiously casual.

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The stakeholders also urged government to provide clear and articulated plan for the development and growth of metal production sector as the struggle for functional steel company in Nigeria continued.

The industry serves as stimulus to national development and economic boost to industrial growth of a country.

The Ajaokuta Steel Mill has not produced a single sheet of steel after three decades, although 40 of the 43 plants at the facility had been completed. And so for whatever it is worth, the sale of Ajaokuta stefl long overdue. Iniron ore of the required quality was discovered in Itakpe, Ajabanoko, and Oshokoshoko. Articles and commentaries that identify allAfrica. When cmpany basic infrastructure and capacity to enable manufacturing are intentionally undermined then, economic saboteurs may be at work.

Please click here if you are not redirected within a few seconds. I am aware of the situation of Ajaokuta Steel Company of Nigeria.

The nation would then lose the benefits of an Ajaokuta Steel complex that was designed as a basic infrastructure for Steel development thus drives economic development in Nigeria. When contacted to react to the latest news on the proposal to sell the company, one of the arrowheads of the lawmakers opposed to the sales, Hon. December 31, My major interest in setting up my plant is to produce new cars in Comany.

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House to Oppose Sale of Ajaokuta Steel Company – THISDAYLIVE

The steel plant which has 12, plots large, kilometre road network and another kilometre road network underground, was built four decades ago and has never produced any steel due to the dispute over the ownership of the Ajaokuta Steel Complex and Nigerian Iron Ore Mining Company NIOMCO.


It is an integrated Steel complex that is capable of kick-starting the Steel sector and jump starting our economy. Japan and South Korea, for instance, have no mineral resource for amaokuta and steel, but they rank among the world top 10 countries in steel production.

The resolution followed the stdel of the Ajaokuta Steel Company Completion…. To address comments or complaints, please Contact us.

December 30, 4: I wanted to make prices of cars to come down, so that people can easily buy new cars as they do overseas. Labour, through United Labour Congress of Nigeria, ULC, and Kogi elders on the aegis of Kogi Elders Forum faulted the economic logic underlying the stel sale, describing it as either voodoo economics or prodigal economics.

The project was undertaken by the Soviet Union under ajqokuta cooperation agreement with Nigeria. However, because of the growing awareness of ajaokyta availability of iron ore in Agbaja, Udi and other areas of the country, emphasis later shifted to establishing an integrated steel plant.

Virtually all the nations that are playing big globally have enhanced capacities for steel production. The indicted minister has since been sworn in as a governor who now enjoys some immunity.

It is also on the cart, first for a total review of the process of privatisation and payment, so that our aluminium sector can eventually come alive,”. The efforts of the government did not yield significant positive result because they were based on the use of iron deposits in Agbaja and Udi which were later found to be unsuitable for direct reduction.

On its part, Kogi elders in a statement issued in Lokoja said it would employ constitutional means ajaoouta stop the sale of the steel company.


Something more strategic is needed to create a financial base that would be used to finance budgets rather than depending on national assets. This site uses cookies: There are companj that are readily available that can be used to bring this project on stream. InSoviet geological experts came to Nigeria and compxny a general geological investigation reported that there were high prospects for richer iron ore and coal deposits in the country.

It equally sanctioned that all loans and grants relating to the project be accommodated. Log into your account.

Time to sell Ajaokuta Steel Company

The people of the state will be mobilized to vote for any presidential candidate that is ready to complete the project. Views Read Edit View history. And that is dangerous for the economy that is already facing some stress.

This page was last edited on 26 Novemberat To contact the copyright holder directly for corrections — or for permission to republish or make other authorized use of this material, click here. A report the other day that the Federal Government was ready to offer the Ajaokuta Steel Mill for sale to finance budget is curiously casual and contemptuous. Preliminary market studies were carried out and studies were initially directed towards the feasibility of establishing rolling mills.

The steel plant was designed to produce 1. Even those that do not have any of the key mineral inputs needed for steelmaking had over the years developed the capacity to produce steel. However, both project have been mismanaged. To enable commenting and other interactive features, please switch to the more advanced. The two unions in Ajaokuta Steel Company, Kogi State have dismissed the reported succession crisis at its managerial level.

So many probe panels have been constituted to probe the scandal called Ajaokuta.