The Federal Government last week kicked off the process of resuscitating the 44-year old Ajaokuta Steel Complex with the inauguration of the Ajaokuta Presidential Project and Implementation Team (APPIT), by Secretary to the Government of the Federation,..
The Federal Government last week kicked off the process of resuscitating the 44-year old Ajaokuta Steel Complex with the inauguration of the Ajaokuta Presidential Project and Implementation Team , by Secretary to the Government of the Federation, SGF, Boss Mustapha.
The committee is also expected to provide “all relevant technical and other inputs necessary to close the negotiations, including ensuring that the best extreme possible, all relevant raw materials are sourced locally, bearing in mind the local content pro-visions and the Presidential Executive Order 005; and to ensure the resuscitation of plant was based on the original design, while keeping a tab on timely commissioning of the plant within a reasonable period to be agreed upon by the parties...
Convinced that this was not the way to go, the Eighth National Assembly came up with the Ajaokuta Steel Company Completion Fund Bill setting aside $1 billion from the Excess Crude Account for its completion, only to have the bill vetoed by President Buhari on the grounds that it was not “the best strategic option for Nigeria at this time of budgetary constraints”.
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