The Federal Government has
taken over the ownership of the Ajaokuta steel plant
…..
Also, the government yesterday took a major step in its plan to
revitalise the steel sector as it signed a renegotiated concession agreement
with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company
(NIOMCO), Itakpe.
With the new agreement, Ajaokuta Steel Complex has now reverted to
the Federal Government, effectively freeing the entity from all contractual
encumbrances that had left it uncompleted and non-functional for decades, while
GSHL retains NIOMCO.
Senior Assistant Media to Minister of Solid Minerals, Yinka Oyebode, who made the disclosure in a press statement,
said the new agreement, which came after
four years of negotiation, was signed at a short ceremony presided over by the
Vice President, Prof Yemi Osinbajo, yesterday at the Villa.
The Nation.
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