National
A major leap for Ajaokuta steel complex as FG approves N853m contract
Hope came alive on Wednesday for the Ajaokuta Steel Complex as the Federal Executive Council (FEC) approved the sum of N853 million as contract for the revitalisation and operation of the project as well as the National Iron Ore Complex, Itakpe in Kogi State.
FEC therefore approved contracts worth N10.48 billion and $27.09 million for the Federal Ministry of Power as part of the government’s effort at repositioning the nation’s power sector.
The Minister of Information and Culture, Lai Mohammed, briefed the State House Correspondents after the week’s virtual FEC meeting presided over by President Muhammadu Buhari.
He said the contract worth N853.25 million is about appointing contractors that would run the process of concessioning of the two companies.
The journey towards the establishment of steel industry in Nigeria commenced in the early 80s however successive Governments did not give the project which attained almost 90% completion in 1984 it’s due attention