Federal Government To Revitalise Ajaokuta Steel Company The Federal Government has said that it is committed to the revitalization of Ajaokuta Steel Company and other steel companies in the country in a bid to revolutionize the nation’s economy. The Minister of Trade and Industry, Olusegun Aganga, who was on facility tour of the steel plant along with the Minister of Power and Steel Development, Musa Muhammed Sada, stated this on Monday at the steel complex in Ajaokuta, Ajaokuta Local Government Area of Kogi State. The tour of the largest steel company in West Africa was necessitated owing to the lunch of the Industrial Revolution Drive by President Goodluck Jonathan in February 2014, as the ministers sought to know what was needed to revitalize it. In his opening speech, the Sole Administrator of Ajaokuta Steel Company, Engr Isah Joseph Osobere, thanked the Minister for the visit, and took them down memory lane of when the steel company started and the capacity of the steel company. He said that poor funding had been the bane of the steel plant, as capital allocation to the plant as remained a mirage. According to the Sole Administrator, the plant was still very sound as the blast furnace method adopted by it account for 70 percent of the world steel production. The Minister of Power and Steel, Musa Muhammed Sada, thanked the staffs and management of the steel plant for their patience and commitment to work. He stated further that it has become necessary to revive Ajaokuta steel in view of its strategic importance to the nation’s economic. The Ministers and the Kogi State Governor, Governor Idris Wada, were then taken round the site. Facilities inspected by the dignitaries included the thermal power plant, the burn furnace and the water intake section. At the end of the facility tour, Governor Wada could not hide his joy as he said that the visit of the two ministers signified that the plant would pick up again soon. The Minister of Trade and Industries, Olusegun Aganga, also noted contrary to insinuations, that Ajaokuta Steel Plant was not obsolete and that it would not be a waste of fund to make it functioning again. He added that with the comprehensive and strategic facilities there, it was an asset to the nation’s economy
Posted on: Tue, 10 Jun 2014 20:28:45 +0000