Ajaokuta Steel Company: Kogi State Government Writes Delegates

The Kogi State Government has urged the National Conference to prevail on the Federal Government to complete the Ajaokuta Steel Complex, which it described as the worst case of an abandoned project in the country.

The state government in a letter written to the Chairman of the conference, Justice Idris Kutigi gave a rundown of the what it described as the sorry situation of the Ajaokuta Steel Project as it urged the federal government to as a matter of urgency complete and commission the project given its strategic importance.

The Kogi State in the document shared to delegates yesterday stressed that if completed, the government could choose to privatise it for the purpose of sustainability.
The document read in part, “The National Conference should therefore strongly urge the Federal Government to: Complete and commission the Ajaokuta Steel Project without any further delay given its strategic importance( Vision 2020 and NIRP) and thereafter privatise it if need be.

“The Federal Government should examine several effective sources of funding such as the gains form further reduction of oil subsidy and the utilisation of some of the proceeds from the privatisation of PHCN Generation Companies (GENCOS) and Distribution Companies (DISCOS) for the project. Urgently tackle all subsisting legal bottlenecks (if any) to allow the Project to move forward.”

“In the interim, create the enabling environment for State Governments interested in investing in Ajaokuta Steel Project, especially the host state, Kogi State, as well as interested private/ public investors to do so.”

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