• Privacy Policy
  • Terms
  • About us
  • Contact Us
  • Staff Email
Friday, June 6, 2025
  • Login
TheMattersPress
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us
No Result
View All Result
TheMattersPress
No Result
View All Result
Home News

Firms bid for Ajaokuta steel

The Matters Press by The Matters Press
January 15, 2019
Reading Time: 2 mins read
0
Firms bid for Ajaokuta steel
A section of Ajaokuta steel

Eleven companies have indicated interest to operate the troubled Ajaokuta Steel Company but the federal government was not yet ready to hand over the facilities.

RELATED POSTS

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development, announced while giving a three-year account of his stewardship (2016-2018) in Abuja.

According to him, the Federal Government is not ready to hand over the company now, as all infrastructure required to support its operations such as rail, dredging of Lokoja and Warri ports were yet to be completed.

He said the company would be handed over to a competent organisation with financial and technical capability, but preferably a Nigeria company, to manage the steel industry as soon as the infrastructure were completed.

“The policy of the government is that it will not release Ajaokuta steel just like that; what we are planning to do is to regulate and create enabling environment for the company to strive.

On Delta steel company, the minister of state said that the industry had been privatised to a Premium company, adding that it was no more in the custody of the Federal Government.

” Delta steel is now owned by Premium steel, It is no longer in the hands of government because it has been privatised, it has commenced operation but on a small scale level,” he said.

He said the most critical challenge facing the mining sector before the advent of this administration was poor funding, adding that in 2015, the aggregate capital allocation for the entire ministry was just a billion naira.

” I am glad to inform you that funding for the ministry has improved tremendously in the last three years, to demonstrate in concrete terms the commitment of this administration to the sector.

“The sum of N30 billion was approved by the Federal Government as intervention fund for the ministry to fund exploration projects, to generate the needed geosciences data and provide the necessary regulatory framework to enable sectoral growth,” he said.

He said that under this administration, the sector had witnessed a steady rise in its contribution to the nation’s Gross Domestic Products (GDP) from 0.3 per cent in 2015 to 0.6 per cent in 2016.

Bwari said that the overall revenue generated by the ministry from royalties and fees has improved from N2.08 billion in 2015 to N3.92 billion in 2017 and N2.97 billion as at October 2018.

Tags: AjaokutaSteel
ShareTweetPin
The Matters Press

The Matters Press

Related Posts

World Bank predicts 4% global economic growth, 1.1% for Nigeria in 2021
Economy/Technology

Nigeria’s 3MTT gets boost as EU, World Bank back initiative

June 6, 2025
Energy

PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF

June 4, 2025
News

Cracking the Code with Africa’s Creators: Woof Studios Makes History at Cannes Lions 2025 CANNES,

June 3, 2025
Economic implications of Niger coup to Nigeria, ECOWAS
Economy/Technology

IMPI urges media to consider national interest in reporting security challenges

June 3, 2025
Tinubu steering Nigeria away from Venezuela-like tragedy – IMPI
News

Malami’s opposition to Tinubu’s endorsement self-indicting – TDF

June 3, 2025
President Tinubu outlines new economic, monetary, foreign policies
Economy/Technology

CUPP goofs over President Tinubu’s 2027 endorsement by governors

June 2, 2025
Next Post
Politics hampers NSE in 2018

PFAs invest N6.05 trn in securities

South South governors urge CJN to disobey law

Court: CJN gets respite

Recommended Stories

Marketers hail unveiling of new NNPC

NNPC attributes increase in petrol price to market realities

July 19, 2023
Increasing food production excites Uganda

Nigeria focuses agriculture as priority to boost revenue as woes in oil persist

September 15, 2020
GTCO declares N221.5bn profit in 2021

GTCO moves to raise N525bn though public offer

March 12, 2024

Popular Stories

  • Rising prices of goods cause protests in Morocco

    Rising prices of goods cause protests in Morocco

    0 shares
    Share 0 Tweet 0
  • NLNG not responsible for gas supply shortfall, price hike

    0 shares
    Share 0 Tweet 0
  • NCC sets fresh operational fees, spectrum prices for telecom operators

    0 shares
    Share 0 Tweet 0
  • Hoarding causes hike in prices of grains

    0 shares
    Share 0 Tweet 0
  • Prices of Petrol, diesel increase in November

    0 shares
    Share 0 Tweet 0
TheMattersPress

We bring you the best news update in Nigeria

LEARN MORE »

Recent Posts

  • Nigeria’s 3MTT gets boost as EU, World Bank back initiative
  • PDP incubated insecurity in Nigeria, but Tinubu on top of the situation – TDF
  • FCT ground rent!: Check your name if you own property

Categories

  • Agriculture
  • Economy/Technology
  • Energy
  • Entertainment/sports
  • Features
  • Foreign
  • Multimedia
  • Natural Resources
  • News
  • Oil and Gas
  • Photo
  • Politics
  • Security
  • Thematterspress
  • Uncategorized
  • Video

© 2025 Domo Tech World - Powered by Thematterspress.

No Result
View All Result
  • Home
  • News
  • Features
  • Thematterspress
  • Multimedia
    • Audio
    • Photo
    • Video
  • About us
  • Contact Us

© 2025 Domo Tech World - Powered by Thematterspress.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Call Us