Ajaokuta Steel To Gulp N80bn

About N80billion would be required to resuscitate the ailing Ajaokuta Steel Rolling mill, which is a major factor in determining Nigeria’s emergence as one of the world’s best economies by the year 2020.

This is one of the issues before the House of Representatives Committee on Steel Development that is currently considering appropriations to the all-important steel sector in the 2012 budget presented by President Goodluck Jonathan to the National Assembly last year.

The Tide investigations show that both the Federal Ministry of Steel Development and House Committee on Steel Development favour the resuscitation of the Ajaokuta Steel Rolling Mill, especially against the backdrop of the nation emerging among the world’s best 20 economies by 2020.

It is apparent from our investigations that the whooping sum of about N80 billion needed to put Ajaokuta back on stream or a substantial part of it would be approved by the National Assembly in this year’s budget and work would begin in earnest at the complex thereafter.

A member of the Committee, Hon Austin  Ogbaburhon justified this in an interview with The Tide yesterday in Abuja when he said, “it’s quite good that we have a workable steel complex in this country; any developing country like Nigeria that tries to be in the league of world’s best economies by the year 2020 needs the steel industry to achieve this feat; the importance of steel development cannot be over-emphasised, especially for developing countries”.

Hon Ogbaburhon, former Chairman, Okpe and Udu Local government councils in Delta state, representing Ughelli North and Ughelli South federal constituency of the state said,”Ajaokuta is not dead but there is no activity going on in Ajaokuta right now. To put Ajaokuta on stream, the money is quite huge – close to N80 billion…because a major part of the steel complex is completed; less than 20% is yet to be completed. Due to long abandonment of the place, most of the parts are obsolete “.

Ogbaburhon said being the only surviving steel complex owned by government in the country, Ajaokuta deserves all the attention and all hands should be on deck to bring it back on stream, noting that the other two steel companies in the country – Delta Steel Company, is now a private company, while National Iron Ore Company, Itakpe is obsolete and not working.

“The government should really work hard to see that we put our steel company  on stream, (to see that) we develop the Ajaokuta Steel Company”, he noted.

Justus Awaji,

Wife of Rivers State Governor, Dame Judith Amaechi with Pastor Enoch Adeboye arriving for the Women of Vision fasting and praying session with the theme: “Arise O God”, organised by the First Lady at Civic Centre, Port Harcourt, yesterday.

Abuja