Despite N4trn Investment, Hope Dims For Ajaokuta Steel Take-Off

The completion of the remaining two per cent of work on the 43-year-old Ajaokuta Steel Rolling Mill, as promised by the federal government, has been ruled out this year, despite a $10 billion (about N4.155 trillion) worth of investment, Daily Trust reports.

A geologist, Professor Ibrahim Garba, said the plant’s chances of taking off are slim because it was predicated on low-grade iron ore, an important raw material needed for the smooth operation of the rolling mill.

Prof. Garba, who served as the 14th vice-chancellor of the Ahmadu Bello University, Zaria, and also former vice-chancellor of the Kano State University of Science and Technology, Wudil said it is doubtful if the steel plant will work for Nigeria.

Our correspondent reports that the professor had worked on secondment at the Federal Ministry of Mines and Steel Development, Abuja as Director-General, Nigeria Mining Cadastre Office. 

He spearheaded the development and implementation of the Mining Cadastre System in Nigeria.

Prof. Garba’s verdict on the Ajaokuta Steel Mill came in the wake of renewed efforts by the federal government to salvage the plant which is almost completed.

Read More: https://dailytrust.com/despite-n4trn-investment-hope-dims-for-ajaokuta-steel-take-off