• Latest
  • Trending
  • All
Nigeria moves to become West Africa’s largest steel producer

Nigeria moves to become West Africa’s largest steel producer

June 25, 2020
Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

March 21, 2023
Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

March 20, 2023
Nigeria launches digital mineral title platform

Nigeria launches digital mineral title platform

November 12, 2022
South Africa’s mining industry posts 4th consecutive quarter of production decline.

Concern rises over South Africa’s coal addiction

September 8, 2022
Sabodala-Massawa, Senegal’s largest gold mine set to increase production

Sabodala-Massawa, Senegal’s largest gold mine set to increase production

September 6, 2022
Nigeria discovers commercial quantity high grade lithium, woos investors

Nigeria discovers commercial quantity high grade lithium, woos investors

September 4, 2022
Low nickel prices halt reopening of ARM’s Nkomati mine

Low nickel prices halt reopening of ARM’s Nkomati mine

September 3, 2022
China, Australia battle for control of massive untapped lithium lode in the Democratic Republic of Congo

Nigeria moves to develop her battery minerals

September 2, 2022
Nigeria, Africa & the $8 Trillion Global Gold Market

Six killed in Burkina Faso gold convoy attack

August 29, 2022
South Africa’s mining industry posts 4th consecutive quarter of production decline.

South Africa’s mining industry posts 4th consecutive quarter of production decline.

August 27, 2022
Asante Gold begins operations at Bibiani mine processing plant

Nigeria, Africa & the $8 Trillion Global Gold Market

August 22, 2022
Platinum-rich Zimbabwe announces new taxes on platinum and lithium

Platinum-rich Zimbabwe announces new taxes on platinum and lithium

July 29, 2022
  • About
  • Advertise
  • Privacy Policy
  • Contact
Wednesday, March 22, 2023
  • Login
African Mining & Minerals
  • HOME
  • CENTRAL AFRICA
    • ANGOLA
    • CAMEROON
    • CENTRAL AFRICAN REPUBLIC
    • CHAD
    • CONGO, REPUBLIC OF (BRAZZAVILLE)
    • DEMOCRATIC REPUBLIC OF CONGO (KINSHASA)
    • EQUATORIAL GUINEA
    • GABON
  • EAST AFRICA
    • BURUNDI
    • COMOROS
    • DJIBOUTI
    • ERITREA
    • ETHIOPIA
    • KENYA
    • MADAGASCAR
    • MALAWI
    • MAURITIUS
    • MAYOTTE
    • MOZAMBIQUE
  • NORTH AFRICA
    • EGYPT
    • LIBYA
    • MAURITANIA
    • MOROCCO
    • TUNISIA
    • WEST SAHARA
    • ALGERIA
  • WEST AFRICA
    • BENIN
    • BURKINA FASO
    • CAPE VERDE
    • CÔTE D’IVOIRE
    • THE GAMBIA
    • GHANA
    • GUINEA
    • GUINEA-BISSAU
    • LIBERIA
    • MALI
    • NIGER
    • NIGERIA
    • SENEGAL
    • SIERRA LEONE
    • TOGO
  • SOUTHERN AFRICA
    • BOTSWANA
    • ESWATINI (SWAZILAND)
    • LESOTHO
    • NAMIBIA
    • SOUTH AFRICA
  • MINES
  • MINERALS
  • TRADING
  • TECHNOLOGY
  • BENEFICIATION
  • TRAINING
  • ENVIRONMENT
  • COMPANIES
  • CONTRACTS
  • FINANCE
  • MARKETS
  • FINISHED PRODUCTS
  • EVENTS
  • CONTACT US
African Mining & Minerals
No Result
View All Result
Home Environment

Nigeria moves to become West Africa’s largest steel producer

by Udenna Orji
June 25, 2020
in Environment
0
Nigeria moves to become West Africa’s largest steel producer
554
SHARES
1.6k
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp

·        Inaugurates Ajaokuta Project Presidential Implementation Team

ON MAY 11, 2020         

NIGERIA – The Federal Government of Nigeria has inaugurated the Ajaokuta Presidential Project Inauguration Team (APPIT) to help revamp the country’s massive Ajaokuta Steel Plant in line with a recent agreement reached with Russia to resuscitate the company.

Nigeria, through the Ajaokuta Steel Plant is working hard to become West Africa’s largest fully integrated steel producer.

Inaugurating the team in Abuja on Monday May 11, 2020, Secretary to the Government of the Federation (SGF), Boss Mustapha, who chairs the team noted that “the Ajaokuta Steel plant has languished in economic unproductivity for about four decades and previous efforts at reviving it had proved abortive”.

He said this has resulted in avoidable massive foreign exchange losses at an intolerable opportunity cost to the country, adding that the pressing need to redress these avoidable challenges has necessitated the current Presidential intervention.

 “This is further underscored by difficulties being witnessed with present challenges in the global oil industry”, he added.

According to Mustapha, revamping the Ajaokuta Steel Plant, therefore clearly presents a unique opportunity to make the country West Africa’s largest fully integrated steel producer and most importantly accelerate her industrialization especially in steel-related industries.

Speaking further, he said; “this government places a lot of value on the diversification of the economy, hence, Mr President’s participation at the Russia-Africa Summit last year in Sochi, to discuss the resuscitation of the Ajaokuta Steel Plant with his Russian counterpart, President Vladimir Putin. Following the bilateral discussions in Sochi, Russia, the Ajaokuta Steel Project is to be resuscitated on the basis of a Government-to-Government agreement with funding from the Afreximbank and the Russian Export Centre. However, one of the key issues discussed by the parties was the Technical Audit, Upgrade, Completion and Operation of the Ajaokuta Steel Company. Today’s inauguration of the “Ajaokuta Presidential Project and Implementation Team” (APPIT) is therefore meant to kick start the process of re-directing the activities of the Steel Plant with the aim of bringing the Steel Project back to life for the growth and economic development of our dear nation. I am happy to note that preliminary works have commenced determining parameters for the effective and coordinated take-off of rehabilitation works on the Steel plant. It is on this note that Mr President graciously approved the composition of this Implementation Team that is being inaugurated today”.

The team is to engage in all bilateral negotiations as shall be necessary on behalf of the Federal Government of Nigeria, leading to the execution of the Government-to-Government Agreement with the Russian Federation and the Afreximbank.

While it will also provide all relevant technical and other inputs necessary to close the Government-to-Government negotiations, the team is to ensure that all relevant raw materials are sourced locally, bearing in mind the local content provisions and the Presidential Executive Order 005.

Other tasks set before the team are to scrutinize and assemble Nigerian Content Engineering, Procurement and Construction (EPC), Special Purpose Vehicle Contractors which will embody the Co-Concessionaire representing Nigeria’s interest in the Build-Operate-Transfer (BOT) Concession; ensure the resuscitation of Ajaokuta Steel Plant (ASP) based on the original design, and ensure timely commissioning of the Ajaokuta Steel Plant (ASP) within a reasonable period to be agreed upon by the parties to the agreement and recommend primary tenure of a Build-Operate-Transfer (BOT) Concession.

 The membership of the Ajaokuta Presidential Project Implementation Team (APPIT) include the Minister of Mines and Steel Development who would serve as alternate Chairman, Permanent Secretary, Ministry of Finance, Solicitor General of the Federation and Permanent Secretary, Ministry of Justice, as well as Mr Gabriel Aduda, a Permanent Secretary in the Office of the SGF.

Others are the Sole Administrator, Ajaokuta Steel Company Ltd, Sole Administrator, National Iron Ore Mining Company, Engr. Vincent Dogo, Prof. Elegba S.B., Dr. Godwin Adeogba (the trio being Industry Experts), Director-General, ICRC and Director Steel, Ministry of Mines and Steel Development.

Share222Tweet139Send
Udenna Orji

Udenna Orji

  • Trending
  • Comments
  • Latest
The History of Mining in Africa

The History of Mining in Africa

October 5, 2020
SPECIAL REPORT ON NIGERIA

Top 10 Risks and Opportunities for the Mining Sector in 2021

April 12, 2021
Nigeria moves to become West Africa’s largest steel producer

Nigeria moves to become West Africa’s largest steel producer

June 25, 2020
The DRC and China’s Sicomines: why future deals should be different

The DRC and China’s Sicomines: why future deals should be different

2

Buy, Rent or Lease- Homes, Offices or Lands NIGERIA

0

PMI Limited: Your energy partner for success

0
Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

Ban on exports causes massive Lithium build up in Zimbabwe, off-take agreements threatened

March 21, 2023
Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

Gold Fields, AngloGold joint venture creates Africa’s largest gold mine in Ghana

March 20, 2023
Nigeria launches digital mineral title platform

Nigeria launches digital mineral title platform

November 12, 2022
African Mining & Minerals

Copyright © 2020 African Mining and Minerals.Com. A PAN MEDIA COMPANY ABUJA, NIGERIA.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

No Result
View All Result
  • HOME
  • CENTRAL AFRICA
    • ANGOLA
    • CAMEROON
    • CENTRAL AFRICAN REPUBLIC
    • CHAD
    • CONGO, REPUBLIC OF (BRAZZAVILLE)
    • DEMOCRATIC REPUBLIC OF CONGO (KINSHASA)
    • EQUATORIAL GUINEA
    • GABON
  • EAST AFRICA
    • BURUNDI
    • COMOROS
    • DJIBOUTI
    • ERITREA
    • ETHIOPIA
    • KENYA
    • MADAGASCAR
    • MALAWI
    • MAURITIUS
    • MAYOTTE
    • MOZAMBIQUE
  • NORTH AFRICA
    • EGYPT
    • LIBYA
    • MAURITANIA
    • MOROCCO
    • TUNISIA
    • WEST SAHARA
    • ALGERIA
  • WEST AFRICA
    • BENIN
    • BURKINA FASO
    • CAPE VERDE
    • CÔTE D’IVOIRE
    • THE GAMBIA
    • GHANA
    • GUINEA
    • GUINEA-BISSAU
    • LIBERIA
    • MALI
    • NIGER
    • NIGERIA
    • SENEGAL
    • SIERRA LEONE
    • TOGO
  • SOUTHERN AFRICA
    • BOTSWANA
    • ESWATINI (SWAZILAND)
    • LESOTHO
    • NAMIBIA
    • SOUTH AFRICA
  • MINES
  • MINERALS
  • TRADING
  • TECHNOLOGY
  • BENEFICIATION
  • TRAINING
  • ENVIRONMENT
  • COMPANIES
  • CONTRACTS
  • FINANCE
  • MARKETS
  • FINISHED PRODUCTS
  • EVENTS
  • CONTACT US

Copyright © 2020 African Mining and Minerals.Com. A PAN MEDIA COMPANY ABUJA, NIGERIA.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

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

Log In