The unions, Steel and Engineering Workers Union of Nigeria and Iron and Steel Senior Staff Association of Nigeria , also said that presidential assent to the Ajaokuta Steel Company Completion Fund Bill, 2018, would impact much on the company and the industry.The leaders of the unions – Alhaji Kasemu Kadiri, General Secretary of SEWUN, and Mr Bello Itopa, ISSSAN President – spoke with Newsmen on Monday in Lagos.
In 1971, the Federal Government established the Nigeria Steel Development Authority in order to advance development of the steel industry. According to Kadiri, the project was envisaged to generate socio-economic benefits and increase the production capacity of the nation through linkages to other industrial sectors.
”The concession agreement was cancelled because of outstripping of assets. The government discovered that Global Infrastructure was taking away important machinery, and the matter was taken to court. He said that the money needed to complete the steel company was huge though the project was less than five per cent completed.Itopa, ISSSAN President also appealed to Buhari not to delay in resolving the financial issue in the bill and ensure commencement of operations.
vanguardngr Its so outrageous that the FG of Nigeria, an oil producing country cannot afford N360b to resuscitate Ajaokuta Steel. Why why why? Disclaimer: Opinion only.
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