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Ajaokuta, Itakpe concession plans modified for Nigeria’s interest—Fayemi

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The federal government has disclosed that it has not only modified the planned concessions of both Ajaokuta Steel Company and Itakpe Steel Rolling Mills but the modification will generate huge resources for Nigeria, if properly managed.

The new plans, according to feelers from the Kogi State House of Assembly was done without recourse to the host state which may lead to another round of confusion when the deal will mature.

However, the Minister of Mines and Steel Development, Dr Kayode Fayemi who made this public at a two-day workshop on policy and capacity building for a successful and sustainable mining sector in Abuja, said development in the sector was recorded which included the activation of 0.5 per cent mining sector component of natural resources fund.

Alhaji Mohammed Abbas, the permanent secretary in the ministry, who stood in for the minister added that President Muhammadu Buhari was committed to ensuring that the mining sector generated income for the nation.

Fayemi said “We are focused on creating a true career path for mining specialists and regulators to ensure that the required knowledge and priorities are on the table,” stressing that “Nigeria and Australia had a long standing history of commercial, cultural and diplomatic link”.

Business Hilights recalls that since the steel mills were built in Kogi state, they have been running from one crisis to another.


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