Re­viv­ing Ajaokuta Steel will save Nige­ria $3.3bn yearly – Min­is­ter

Daily Trust - - NEWS - By Vic­to­ria Onehi

The Min­is­ter of Mines and Steel De­vel­op­ment, Dr Kay­ode John Fayemi, says if the Ajaokuta Steel Com­pany is work­ing it will save the coun­try about $3.3 bil­lion spent on im­por­ta­tion of steel prod­ucts an­nu­ally.

Fayemi stated this at the maiden edi­tion of the Na­tional Coun­cil of Min­ing and Min­eral Re­sources De­vel­op­ment (NCMMRD) con­fer­ence held yes­ter­day in Abuja.

He said with the Mod­i­fied Con­ces­sion agree­ment signed re­cently with the Global In­fra­struc­ture Nige­ria lim­ited, the com­pany has re­verted to the Fed­eral Gov­ern­ment.

He said the gov­ern­ment would soon en­gage a new core in­vestor with the fi­nan­cial ca­pac­ity to run the steel com­plex.

“Our as­pi­ra­tion is to build a world-class min­er­als and min­ing ecosys­tem de­signed to serve a tar­geted do­mes­tic and ex­port mar­ket for min­eral s and ores. We seek to re­build mar­ket con­fi­dence in our min­er­als and min­ing sec­tor and win over do­mes­tic users of in­dus­trial min­er­als in or­der to achieve im­port sub­sti­tu­tion,” Fayemi said.

The Min­is­ter of Fed­eral Cap­i­tal Ter­ri­tory Au­thor­ity, Malam Muhammed Musa Bello said the con­ven­ing of NCMMRD was very timely as the de­vel­op­ment of the min­eral sec­tor would take Nige­ria from de­pen­dence on one source of rev­enue (oil) to other sec­tors like solid min­er­als.

Speak­ing on be­half of host min­ing com­mu­ni­ties, the Gbong Gwom Jos and Chair­man, Plateau Coun­cil of Chiefs, HRH Ja­cob Gyang Buba said there was need to pro­tect the health and lives of peo­ple in com­mu­ni­ties where min­ing is tak­ing place to save them from dis­eases like cancer. OVER­LAND AIR­WAYS DANA AIR

From right: Min­is­ter of Mines and Steel De­vel­op­ment, Dr Kay­ode Fayemi; Kebbi State Gov­er­nor, Al­haji Abubakar Atiku Bagudu; and Min­is­ter of FCT Mo­hammed Musa Bello, ex­am­ine some pre­cious stones at the clos­ing ses­sion of the Na­tional Coun­cil on Min­ing and Min­eral Re­sources De­vel­op­ment (NCMMRD) in Abuja, yes­ter­day.

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