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Mines Minister Says No Going Back On Concession Of Ajaokuta Plant

Minister of Mines and Steel Development, Dr. Kayode Fayemi, has said that the Federal Government would not repeat the mistake of the former President Olusegun Obasanjo’s administration on the Ajaokuta steel plant, insisting that money would not be spent to complete the Complex
Speaking in Abuja, the minister said government has since 1979 spent over $8 billion on the project with nothing to show for it, adding that government will go ahead with plans to concession the steel plant.
According to him, no fewer than 14 companies from different countries had indicated interest in the plant since 2016.

Ajaokuta Steel Plant

Fayemi’s position is however, against that of the House of representatives which said last week that they would oppose the concession of the company, as they preferred that government invest and complete the project.

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