President Muhammadu Buhari has made a justifying assertion on the $400 million spent to revive Ajaokuta Steel Company (ASC) saying that “it was well spent”. Buhari further argues that the beneficial gain of the project to the country far outweighs the investment. The President, who stated this in Okene, Kogi State, during a town hall meeting at the renovated Ohinoyi of Ebiraland’s Palace, also declared that the All Progressives Congress (APC) has delivered on the promises it made to Nigerians at all levels.
Nigeria’s President continued by saying that his administration prides itself in the fulfilment of its electoral promises to the people both at the national and subnational levels. He said the administration has proven its stewardship to Kogi state with the array of legacy projects carried out through the state government. According to the president the APC administration has built a strong foot in Kogi state with various significant projects carried out. Among the many projects executed by the Federal Government are the Itakpe to Okene by-pass, Obajana to Kabba concrete road built by Dangote Industries Limited under our ‘Roads for Taxes Initiative’ (Executive Order 7) and the Itakpe to Warri railway service,” he told his audience.
The Ajaokuta Steel Company project is a top priority for the government.
Moreover, President Buhari made it known that his administration is working to transform Kogi state into an investment center through the activation of solid minerals in the state, particularly, the iron and steel sector. He explained that the Ajaokuta Steel Company project is a top priority for the government despite the fact that it was already in shambles when the administration entered office. The president stressed that the locally and internally dispute in the company has been resolved through the administration’s concerted effort and with some amount paid out.
Accordingly, he said the company is ready for concession to competent private investors that will operationalize it for the benefit of the people of Kogi state and the country in general. He disclosed that the Federal Government is in talks with a competent and reputable United States-based company, which he hopes will materialize and the company will come back on stream. The beneficial gain of bringing Ajaokuta Steel Company back to life is enormous as it contributes to the unemployment rate by generating more than 500,000 jobs for youth and over $1.6 billion for the state and country annually.
Project developments will improve the country’s economic activities.
The president assures the public that his administration strives to ascertain logical conclusions on the steel company issue before leaving office. He reiterated that commissioning of the projects is in realization of his campaign promises to Kogi people. He said the state governor Yahaya Bello has briefed him about numerous projects he has carried out for the people in the state such as the Confluence University of Science and Technology (CUSTECH) at Osara; Rice Mill in Ejiba; hospitals in Idah, Kabba and Okene, roads constructed in the three senatorial districts and GYB Model Secondary Schools.
Additionally, in Lokoja, there is a flyover project, the first of its kind in Kogi. The AKK gas pipeline that will be completed next year is planned also within the state. President Buhari emphasized that the project developments will improve the country’s economic activities and also have a multiplier effect on the people of the state. He further commended the governor’s performance in the area of security and project execution. On the other hand, the president urges the people of the state to give him their support in order to accomplish more dividends of democracy and achieve peace and development of the state.
Concession plans for Ajaokuta Steel Complex are ongoing.
In his statement, Bello, said the President’s visit to commission projects in the state was historic in the lives of Kogi people. Meanwhile, concession plans for Ajaokuta Steel Complex are ongoing. To this end, a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company, Itakpe. The selection process is ongoing. All efforts are to break the jinx and actualize the dream of a vibrant steel sector.
Related Link
ASC: Website
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Buhari justifies investments made on ASC – Beneficial gain of the project outweighs the investment -Buhari. – Express your point of view.
I applaud the governor’s performance in the area of security and project execution. On the other hand, the president urges the people of the state to give him their support in order to accomplish more dividends of democracy and achieve peace and development of the state. let’s all give our best too
So far the justifications will make the steel company to immediately start working, then it’s fine. We don’t want excuses for mediocrity. Things should be done as soon as possible to ensure the Ajaokuta steel company is working.
The return on investment for the project will be several times greater than the benefits it will provide to the nation as a whole.
Our began his speech by stating that his administration takes great delight in the fact that it has kept all of the electoral promises that it made to the people of Nigeria, both on the national and subnational levels.
The local and internal disagreement within the company has been resolved because the company’s management worked together and paid a certain amount of money.
The administration has demonstrated to the people of Kogi state that it is responsible stewards by carrying out a wide variety of legacy projects with the assistance of the state government.
Buhari justifies investments made on ASC. The Ajaokuta Steel Company project will improve the economy of the country
Even though the Ajaokuta Steel Company project was in disarray when the current administration took office, it remains a primary priority for the government.
The project developments will improve the country’s economic activities and also have a multiplier effect on the people of the state
The people should give the president their support in order to accomplish more dividends of democracy and achieve peace and development of the state.
The process of selection is still ongoing. The goal of these initiatives is to break the curse and make the dream of a thriving steel industry a reality.
Achieving greater dividends of democracy and achieving peace and development of the state requires the cooperation of the people of the state, and the president has asked for that support.
It’s an awesome development concerning the Ajaokuta steel I just hope the money spent will be justified and an in turning in lots of profits.
The steel company need to start working this project will help to improve the economy of the country one way or the other it should be one of thing the government should pay attention to it is an important project for success
If the justifications will get the steel firm operating right now, fine. We reject mediocrity. To get the Ajaokuta steel company up and running, act quickly.
Project developments will boost economic activity and benefit state residents.
The people should support the president to achieve more democratic dividends, peace, and state prosperity.
The ASC development is a really needed one. If concessions to a company with adequate capacity and development minded one, it will benefit the country vastly.
Is it when Buhari administration is rounding up that he now want to commence with the construction of Ajaokuta Steel project? Something is definitely not right. I hope they deliver with their promises.
President Buhari announced that his administration is striving to make Kogi state an investment hub by reactivating the state’s significant mineral resources, especially the iron and steel industry.
If the Ajaokuta Steel company can be brought back to life it will be of great benefits to our country. Is it when this Baba is ending his term as president that he is now thinking of commencing with the Ajaokuta Steel project.
The steel industry must get to work. It should be a priority for the government to focus on this project because it will, in some way, contribute to the improvement of the nation’s economy.