Business
Develop Ajaokuta Steel Plant Before Privatisation – Lawmaker
The Chairman, House Committee on Steel, Rep. Sadiq Mohammed, has called on the Federal Government to complete the Ajaokuta Steel Company before privatisation.
Mohammed, who said this last Thursday in Abuja at a two-day stakeholders workshop, organised by the Ministry of Mines and Steel Development, argued that no investor could afford the N83 billion required to complete the complex.
“The steel sector is privately driven globally, like in Russia, India, South Korea, Germany, France, Italy and the US.
In these countries, their steel industries were first developed by their governments before privatisation.”
Mohammed said that the steel sector was critical to the nation’s economic and social development, adding that “it is only the government that can develop the entire infrastructure needed in the industry.”
He called for a metallurgical bill and manual to enable the sector thrive.
He said that Egypt had built a six-lane super highway into the desert in order to mine its iron ore because of the importance it attached to steel development.
“The steel sector is important to any country that needs to develop industrially. There is no nation that is fully developed that does not first develop its iron and steel sector.”
In his speech, the Minister of Mines and Steel Development, Musa Sada, said the essence of the metallurgic bill was to discourage dumping of all sorts of steel materials in the country.
According to him, the nation cannot move forward in terms of economic development without first developing its mines and steel sector.
Sada decried the situation whereby no attention was paid to health, safety and environmental concerns by many operators in the metal industry, and advised that this should be addressed.
Dr Oleg Svistunov, the Managing Director of Ruskij Aluminij (Nig) Ltd., commended the organisers of the workshop, saying that the workshop would enable investors to brainstorm on the issues in the industry.
He called on the Federal Government to establish an enabling environment to encourage investors, both foreign and local, to invest in the industry.
According to Svistunov, the Federal Government should develop the infrastructure such as roads, electricity, and training of manpower to develop the sector.
He said that problems like employment, shortfall in the revenue and poor standard of living of Nigerians could be addressed with the development of the steel sector.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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