{"id":94374,"date":"2022-04-27T18:59:10","date_gmt":"2022-04-27T17:59:10","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=94374"},"modified":"2022-04-27T18:59:10","modified_gmt":"2022-04-27T17:59:10","slug":"fg-approves-n853m-to-concession-ajaokuta-steel-company","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/","title":{"rendered":"FG approves N853m to concession Ajaokuta steel company\u00a0"},"content":{"rendered":"<div dir=\"auto\">The Federal Executive Council, on Wednesday in Abuja, approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited.<\/p>\n<p>The approval also involved the National Iron Ore Mining Complex in Itakpe, Kogi State.<\/p><\/div>\n<div dir=\"auto\"><\/div>\n<div dir=\"auto\">The Minister of Information and Culture, Lai Mohammed, disclosed this to State House Correspondents shortly after Wednesday\u2019s hybrid FEC meeting presided over by President\u00a0 Muhammadu Buhari at the council chambers of the State House, Abuja.<\/p>\n<p>Mohammed, who spoke on behalf of the Minister of Mines and Steel, Olamilekan Adegbite, said the move breathed an air of hope in the long-abandoned piece of infrastructure.<\/p><\/div>\n<div dir=\"auto\">\nHe said \u201cCouncil approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited and also the National Iron Ore Mining Complex in Itakpe in favour of Messrs CPCS Transform Consortium in the sum of N853,266,644.4 inclusive of 7.5 per cent VAT.<\/p>\n<p>\u201cI am sure we are all familiar with the history of the Ajaokuta Steel complex. The contract was awarded in 1979 to a Russian company called TPE. By the end of 1983, the contract had reached advanced stage. Regrettably, since then it has been suffering and by 1994, TPE demobilised from site and 1996, the contract was terminated.<\/p><\/div>\n<div dir=\"auto\">\n\u201cSubsequently, various administrations have tried to revive the Ajaokuta Steel Company without much success. However, you will recall that Mr President was on a state visit to Russia on October 22 and 24, 2019, and here it was resolved that the Ajaokuta Steel Company, which the Federal Government has made massive investment, must be resuscitated.\u201d<\/p>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>The Federal Executive Council, on Wednesday in Abuja, approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited. The approval also involved the&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":81838,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-94374","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FG approves N853m to concession Ajaokuta steel company\u00a0 - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FG approves N853m to concession Ajaokuta steel company\u00a0 - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"The Federal Executive Council, on Wednesday in Abuja, approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited. The approval also involved the&hellip;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\" \/>\n<meta property=\"og:site_name\" content=\"Pointblank News\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-27T17:59:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/06\/Lai-Mohammed.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"719\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Our Reporter\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Our Reporter\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\"},\"author\":{\"name\":\"Our Reporter\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/#\/schema\/person\/ba61acbe7e8967bcf3f3ba603d9db23c\"},\"headline\":\"FG approves N853m to concession Ajaokuta steel company\u00a0\",\"datePublished\":\"2022-04-27T17:59:10+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\"},\"wordCount\":265,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/pointblanknews.com\/pbn\/wp-content\/uploads\/2021\/06\/Lai-Mohammed.jpg\",\"articleSection\":[\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\",\"url\":\"https:\/\/pointblanknews.com\/pbn\/news\/fg-approves-n853m-to-concession-ajaokuta-steel-company\/\",\"name\":\"FG approves N853m to concession Ajaokuta steel company\u00a0 - 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