The Federal Government will soon unfold its blueprint for the
rehabilitation of the Ajaokuta Steel Company and the National Iron Ore
Mining Company, Itakpe, in Kogi State.
The Minister of Solid Minerals Development, Dr. Kayode Fayemi, disclosed
this on Monday after conducting an inspection tour of facilities at the
two companies.
Fayemi said government’s position had become imperative due to dwindling
fortunes of the oil sector.
He said government would come up with a realistic decision that would
enable it turn the steel sector into a viable sector and lay the
foundation for future industrialisation of the country.
Fayemi, who was accompanied on the tour by the Minister of State in the
ministry, Hon. Abubakar Bwari, said government had obtained necessary
information and facts about the two companies from relevant stakeholders.
He added that the tour was to confirm the information and facts at the
disposal of government.
The minister said: “Our mission is to ensure that this plant works.
“The methodology to achieve this will be informed by what we see on ground
and facts at our disposal.
“President Muhammadu Buhari has not formed an impression yet. He is
looking at many ways before taking a decision on the basis of our findings
and reports to him.”
Fayemi said government was studying the experiences of some steel
producing countries with a view to charting a way forward for Nigeria.
He said : “We are studying how these countries succeeded in building
several plants many years after we have started our own. What did they do
right and what did we do wrong to find ourselves at the present
situation.”
He said he was optimistic that the plant would work.
“The plant will work. President Buhati is very passionate about it.”
Fayemi , together with the minister of state, Bwari and other top
officials of the ministry were conducted round the various plants in the
43 units of the Ajaokuta steel complex.
The Sole Administrator of Ajaokuta Steel Company, Engr Isah Onobere,
listed four options on the best way out for the company and how
government could lay solid foundation for the country’s economic
development.
Onobere urged the government to call for expression of interest from
experts for the rehabilitation, completion and commissioning of the steel
plant to avoid further deterioration of equipment and facilities.
At NIOMCO in Itakpe, the Sole Administrator, Alhaji Yau Ibrahim, urged the
minister to assist in the completion of some ongoing projects which were
critical to the survival of the plant.
He said the steel sector was still largely untapped, adding that iron ore
deposit at Itakpe is about 197 million tonnes and sufficient to support
production of steel at Ajaokuta Steel Company for a period of 35 years.