Ajaokuta: Federal Government Refutes Dangote’s Claim, Says Steel Firm To Be Revived

The national authorities has refuted caller claims by Africa’s richest man, Aliko Dangote, that the Ajaokuta Steel Company Limited (ASCL) was beyond revitalisation, saying it was committed to bringing the decades-old moribund installation into productive use.

A property connection signed by the Head of Press and Public Relations Department, Ministry of Steel Development, Salamatu Jibaniya connected Thursday successful Abuja, said though the national authorities acknowledged the challenges with completing the project, it was, however, determined to crook the institution around. It said different method and fiscal audit of the steadfast was being undertaken, and the result of the workout would constituent the mode forward.

Part of the connection read: “While we enactment the concerns expressed, it is important to authorities that the national authorities remains firmly committed to the improvement of Nigeria’s alloy sector, including the resuscitation of ASCL.

“A broad method and fiscal audit of the works is presently underway to guarantee that immoderate determination taken is transparent, data-driven and successful the champion involvement of Nigeria. The wide appraisal of the erstwhile method audit study dated 2018 maintained that the wide presumption of the Steel Plant is successful robust information but for mean deterioration of replaceable parts and recommended automation of manual power systems for improved efficiency.”

The Ministry expressed assurance that the updated audit volition supply a dependable ground for decisive enactment that advances Nigeria’s concern aspirations.

“The national authorities is determined to physique a competitory and modern alloy manufacture that supports nationalist industrialisation and infrastructure growth,” it concluded.

The Ajaokuta alloy steadfast was started successful 1979 nether the Shagari medication successful the Second Republic arsenic portion of Nigeria’s efforts to industrialise and go self-sufficient successful alloy production. However, contempt being astir completed, Ajaokuta Steel has ne'er produced alloy astatine a commercialized standard owed to a operation of mismanagement, governmental interference, deficiency of funding, and failed concession agreements.