$5.28b debt: Coalition lauds FG over moves to revive Ajaokuta Steel Company | The Guardian Nigeria News - Nigeria and World News

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A Coalition of Civil Society Organisations (CSOs) has praised the Federal Government for its recent efforts at reviving the comatose Ajaokuta Steel Company Limited (ASCL) by clearing the debt owed a foreign firm in the past 20 years.

The coalition described as heart-warming the Federal Government’s ability to negotiate the debt from $5.28 billion to $496 million, which amounted to 91 per cent reduction of the mediation claims.

While contending that the negotiation with the foreign investors constitutes the last process in the efforts to bring back ASCL to, the coalition said “it is also a relief” to win back the National Ore Mining Company in Itakpe that was hitherto under concession to the foreign interest. Part of the statement reads: “We, therefore, commend President Muhammadu Buhari for keeping to his promise of ensuring the steel company is back to full operations before the end of his administration. All these would not have been possible without the political will from the President supported by his ministers and the administrators of ASCL and NIOMCO.

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Hahaha! Why are Nigerians so blind? This the end of this gov't. Which gov't will find it? It's just for campaign.

Great job. Let’s get to work then

Story

It's say revive but I say it's an avenue to loot more money

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