The Federal Government has inaugurated Ajaokuta Presidential Project Implementation Team (APPIT) to Resuscitate Ajaokuta Steel company in conjunction with the earlier agreement with the Russian government to revive the company.
The inauguration of the committee which was Chaired by Secretary to the Government of the Federation, Boss Mustapha stated that ”the Ajaokuta Steel plant has languished in economic unproductivity for about four decades and previous efforts at reviving it had proved abortive”
President Buhari Visited Russia-Africa Summit in October last year so as to deliberate on how to revive Ajaokuta Steel company to further strengthen bilateral relations and also boost Nigeria economy.
Ajaokuta Steel Company Limited(ASCL), the second-largest in Africa with iron ore was constructed in 1979 by the Soviet Union. The plant had not been involved in major production but has sucked up to 8 billions of naira.
An Industry with about 24,000-hectare land area, steel plant occupies 8,000 hectares, underground equipment and with the capacity of accommodating thousands of employees in Nigeria.
Decade after decades, administrations come and go, Presidents emerged and leave office. Several Committees had selected been selected in the past to supervise and monitor the resuscitation of Ajaokuta steel mill but the mismanagement and misappropriation of funds had made Effort for privatization abortive.
Will the new committee change the story of Ajaokuta steel company for good or Nigerians should expect another jamboree?