Resuscitate Ajaokuta Steel Company To Grow Economy- Don

Resuscitate Ajaokuta Steel Company To Grow Economy- Don

Nigeria – Prof. Benjamin Adewuyi of the Federal University of Technology Akure has advised the Federal Government to resuscitate Ajaokuta steel company in order to serve as a catalyst for economic growth.

Adewuyi of the Department of Metallurgical Engineering of the institution, gave the advice in an interview with the News Agency of Nigeria (NAN) on Monday in Abuja.

According to him, Ajaokuta steel is a national asset that should be given adequate attention to ensure it played it part in the Nation’s economy.

He said that no country would record economic growth without a viable metallurgical sector put in place, adding that Nigeria should revive its moribund metal sector.

“The company is stagnant; we spoke with the Minister of Mines and Steel Development, Mr Olamilekan Adegbite, few weeks ago and he said that the Russia team that will take audit of the company will soon arrive in Nigeria,” he said.

NAN recalls that the accord to revive Ajaokuta steel company was reached during a meeting between President Muhammadu Buhari and President Vladimir Putin in Russia in 2019.

The Russian government had nominated TYAZHPROMEXPORT (TPE), a Russian company, the original builder of Ajaokuta steel to conduct technical audit of the steel company to ascertain the level of work to be completed.

On Delta Steel in Aladja, he said that it would take political will to correct the mistake made on the company at its initial concession to an Indian company.

He said that nothing had changed about Delta steel since the administration of late Umar Ya’adua retrieved Delta steel from the Indian company called Global Infrastructure (Nigeria) Ltd.(NAN)