Tag: Ajaokuta steel plant

  • ‘Atiku should not take us back to era of squandermania’

    Zikist-Buharist Movement (ZBM), a group rooting for the return of President Muhammadu Buhari of All Progressives Congress (APC) in 2019, has dismissed the manifesto of the Presidential candidate of opposition People’s Democratic Party (PDP), Alhaji Atiku Abubakar.

    Atiku had on Monday via facebook and twitter unveiled his four-point agenda manifesto/policy document which promotes restructuring, privatization, job creation, infrastructure development and poverty eradication.

    Reacting in a statement in Enugu on Tuesday, ZBM cautioned Nigerians to be wary of Atiku’s demagoguery.

    In the statement signed by Stanley Ohajuruka and Godwin Onwusi, Zonal Coordinator and Acting Secretary respectively, the group warned Nigerians not to allow Atiku’s demagoguery to drift the country back to the era of squandermania.

    The statement read in part: “Our fear is that his manifesto glitters with restructuring and privatization but the sage says that ‘all that glitters are not gold’. We therefore appeal to Nigerians not to allow demagoguery to drift us back to the loathed era of Squandermania.

    The main ingredients of Restructuring ZBM submit cannot be done with Fiat-Executive-Order. It must be by consensus as approximated by Section 9 of the 1999 Constitution of the Federal Republic of Nigeria. To work we recommend persuasion for ownership by majority, not propaganda.

    “For we are at a loss how best to be happier tomorrow, to create jobs and build a modern economy, but investing hugely in critical infrastructure which the Buhari’s Rails, Roads, Agriculture and Power (RRAP) Projects  – 5,000 kilometers of federal roads, 5,000 kilometers of standard gauge rail lines, 5,000 megawatts of electricity and self sufficiency in food production, is executing and wants to take to the Next Level.

    “It is on record that Buhari regime inherited 345 uncompleted federal roads and despite fall in oil revenue, had invested over N2 trillion in critical infrastructure, embarked on social safety net and utilized over N2 trillion to bail out states from salary and pension arrears, abandoned when the former Minister of Finance, Dr Mrs Ngozi Okonjo-Iweala bemoaned that, “whoever wins in 2015 will never find it easy to govern, for I told them to save ahead of eventualities, but Jonathan had no political will to do so and that is the reason why we are in crisis, because we squandered our boom,” ZMB stated.

    On the vexed issue of privatization, ZMB raised a poser: “As a One who was in charge when some of these roads and other projects were abandoned, may we ask His Excellency Atiku Abubakar, his scorecard as de facto president and chairman of National Council on Privatization (NCP), when Chief Olusegun Obasanjo then president was globetrotting between 1999 and 2003 and delegated enormous powers to him?

    Read Also: Atiku plans to back 50m SMEs

    “Our simple answer is that Nigerians have no good story to tell of the privatisation exercise of the State Owned Enterprises, under the Peoples Democratic Party (PDP), as the exercise failed woefully and the proceeds were less than transparently accounted for, as exemplified by NITEL, Aluminum Steel Plant, Ajaokuta Steel Plant, Electricity Distribution Companies and sundry state assets.”

    ZMB made it clear that the outcome of the mismanaged state owned enterprises of the yore does not in actual fact elicit its support in the proposal by Atiku to privatise the Nigeria National Petroleum Corporation (NNPC), but rather, it supports the war against corruption, so as to avoid the paradox of selling state owned enterprises on one hand to cronies and using public fund on the other hand to shore up failed cronies enterprises, which led to the over N5 trillion which AMCON was owing the citizenry.

    The group insisted that it cannot trust Alhaji Atiku who flagrantly jettisoned the great Nigeria media, event managers, transporters, food vendors among others, by climbing skyward to launch his demagoguery campaign in the Social Media via Tweeter and Facebook.

    “ZBM had searched for any page where TheAtiku Plan mentioned war against corruption, and couldn’t find any; which means that the plan placed no premium on the menace of corruption and how it underdeveloped our dear country. In sum, it is the considered view of ZBM that yesterday is today’s architecture. Accordingly the 2019 presidential electoral contest is a two horse race, between promoter of squandermania or share the money syndrome and promoter of prudence of slow and steady growth. Beware of the era of squandermania.” ZBM submitted.

  • No plan to sell Ajaokuta Steel Plant, says Osinbajo

    Vice President Yemi Osinbajo has assured that there was no plan by the Federal Government to sell the Ajaokuta Steel Complex.

    Kogi State Governor, Yahaha Bello, disclosed this to State House correspondents after meeting with the Vice President yesterday at the Presidential Villa, Abuja.

    Bello revealed that Osinbajo, being the Chairman of the National Economic Council, debunked the rumour making the rounds over the purported sale of Ajaokuta Steel Complex .

    “He said there is no plan by the Federal Government to sell Ajaokuta Steel Company. The VP said Ajaokuta is an asset of the Federal Government and that they are looking into how best to make good use of the facility for the benefit of Nigerians as a whole.

    He said his delegation visited the VP so as to notify him of the coronation of the new Oba of Kabba tomorrow and to seek his blessings

    On the preparation for 2019 general elections he said, every primary can be rancorous and everybody can hustle for one ticket or the other. I can assure you that we have a capable leadership of the party in President Muhammadu Buhari.

    “Also, we have our able chairman, Comrade Adams Aliyu Oshiomole who is doing his best to ensure that the party is strong and the party is really very strong.

    “As for the general elections, in Kogi State, we are one hundred percent ready and we are going to sweep all the state and by the grace of God, we shall bring out a vote that has never been witnessed in the North Central by the Grace of God. I can assure you as well that the 2019 elections for Mr President, it’s going to be a walk over by the grace of God.” he stated

     

  • No plan to sell Ajaokuta Steel Plant – Osinbajo

    Vice President Yemi Osinbajo has assured that there was no plan by the Federal Government to sell the Ajaokuta Steel Complex.

    Kogi State Governor, Yahaha Bello, disclosed this to State House correspondents after meeting with the Vice President on Thursday at the Presidential Villa, Abuja.

    He said, “First of all, the Vice President, being the Chairman of the National Economic Council, we came to make some enquiries from him over the purported sale of Ajaokuta Steel Complex and he has indicated that there is nothing like that.

    “He said there is no plan by the Federal Government to sale Ajaokuta Steel Company. The VP said Ajaokuta is an asset of the Federal Government and that they are looking into how best to make good use of that particular complex for the benefit of Nigerians at large.

    “Also, we are going to coronate the new Oba of Kabba on Saturday, we came to notify him as a father of the event that is coming up on Saturday and to seek for his blessings.”

    Read Also: Our concern with new minimum wage – NGF

    On the preparation for 2019 general elections he said, every primary can be rancorous and everybody can hustle for one ticket or the other. I can assure you that we have a capable leadership of the party in President Muhammadu Buhari.

    “Also, we have our able chairman, Comrade Adams Aliyu Oshiomole who is doing his best to ensure that the party is strong and the party is really very strong.

    “As for the general elections, in Kogi State, we are one hundred percent ready and we are going to sweep all the state and by the grace of God, we shall bring out a vote that has never been witnessed in the North Central by the Grace of God. I can assure you as well that the 2019 elections for Mr President, it’s going to be a walk over by the grace of God.” he stated.

  • Why Fed Govt can’t concession Ajaokuta Steel plant, by Fayemi

    Why Fed Govt can’t concession Ajaokuta Steel plant, by Fayemi

    The Federal Government yesterday said legal encumbrances arising from the decision of the London Court of Arbitration over the ownership of Ajaokuta Steel Complex are still tying down its efforts to concession the plant.

    The Sole Administrator of the complex, Sumaila Abdul-Akaba, told the House of Representatives Joint Committee on Power, Steel Development and Metallurgy that a 2010 audit report showed that $1.2 billion was required to turn around the moribund steel plant.The amount, he said, included balance of external infrastructure.

    Minister of Solid Mineral Development Dr. Kayode Fayemi told the Senate and House of Representatives Joint Committee on Power, Steel Development and Metallurgy, that until all issues that emanated from the position of the London Court of Arbitration were addressed, it would be difficult to put up Ajaokuta Steel Complex for concession.

    Fayemi, who spoke at the 2018 budget defence of his ministry, noted that the ministry was working assiduously to bring life back to the moribund steel complex.

    The minister was asked when Ajaokuta Steel would be brought back to life.

    The Federal Government and Messrs Global Steel Holding Limited, an Indian firm, started negotiations for amicable resolution of the ownership of Ajaokuta Steel Complex in 2008.

    Abdul-Akaba gave breakdown of the amount as $513 million for rehabilitation, completion and commissioning while 4687 will be used for balance of external infrastructure.

    He appealed to the committee to ensure the total rehabilitation, completion and commissioning of the steel complex describing the plant as viable.

    The Sole Administrator also told the committee that by April 55 mw electricity plant installed in the complex would come on stream.

    He said there were 10,000 houses in the complex with about 4,000 completed.

    Abdul-Akaba assured the committee that machines installed in the complex are first class stressing that “all we need to do is to sort out legal issues surrounding Ajaokuta Steel to bring the plant to run.”

    He said the over $10 billion steel imported into the country annually could be save if Ajaokuta was brought on stream.

    On what the ministry is doing about lead poisoning especially in Zamfara State, Fayemi said they had constituted a team on lead poisoning jointly with the Ministry of Health.

    The minister also said they have blocked the use of mercury  which he said leads to lead poisoning.

    Fayemi said they are addressing the issue of institutional capacity and infrastructure.

    According to him, “For the first time states are also getting 13 per cent derivation due them from solid mineral exploited from their states.

    He said that they have constituted mines surveillance task team appointed by the Inspector General of Police.

    The minister said: “We also believe that artisan miners should be protected, to create employment in the area and enable the people to benefit.”

    It was gathered that the Senator Enyinnaya Abaribe-led committee has concluded arrangements to visit Ajaokuta Steel Complex for first hand information as well as to see how that the National Assembly can facilitate the rolling out of steel complex.

  • Why FG can’t concession Ajaokuta steel plant – Fayemi

    Why FG can’t concession Ajaokuta steel plant – Fayemi

    The Federal Government said on Tuesday that legal encumbrances arising from the ruling of the London Court of Arbitration on the ownership of Ajaokuta Steel Complex are still tying down efforts to concession the steel plant.

    The Sole Administrator of the steel complex, Sumaila Abdul-Akaba, told the joint Senate and House of Representatives Committee on Power, Steel Development and Metallurgy that a 2010 audit report showed that $1.2 billion was required to turn around the moribund steel plant.

    The Minister of Solid Mineral Development, Dr. Kayode Fayemi, told the committee that until all issues that emanated from the position of the London Court of Arbitration were addressed, it would be difficult to put up Ajaokuta Steel Complex for concession.

    Fayemi, who spoke at the 2018 budget defence of his ministry, said they were working assiduously to bring the moribund steel complex back to life.

    The minister was responding to a question on when the Ajaokuta Steel will be brought back to life to function maximally.

    The Federal Government and Messrs Global Steel Holding Limited, an Indian firm, started negotiation for amicable resolution of the Ajaokuta Steel Complex ownership tussle in 2008.

     

  • Govt mulls alternative funding for Ajasteel

    The Federal Government has said it will seek alternative ways to fund the completion of the ailing Ajaokuta steel plant.

    The Permanent Secretary, Federal Ministry of Mines and Steel, John Femi Jegede disclosed this yesterday in Ajaokuta, Kogi State when he paid a familiarisation tour to the steel plant. He said the plant is crucial to the realisation of President Goodluck Jonathan’s Transformation Agenda.

    According to him, the minister and ministry is looking for alternative ways of funding the completion of the remaining segments of the steel plant as it is the bedrock of the nation’s industrialisation.

    He said: “ What we mean by alternative funding is signing of Memorandum of Understanding (MoU) to complete the remaining part of the plant. Currently, we have signed MoU to complete some segments of the project and those that are not working before are now functioning. More MoU will come into play and the plant will work. As soon as this report is submitted to the minister, action would be taken because the investment is huge and cannot be downplayed.”

    He however praised the efforts of the steel workers in making the plant viable despite the long abandonment, calling on the management of the plant to come up with more MoUs to revatilse the plant.