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Foreign investors can't fix Ajaokuta Steel Complex — Kamoru Yusuf


I have taken my time to study and assessed the Federal Government’s efforts to resuscitate Ajaokuta Steel Company Limited and my conclusion is that it may be difficult for any foreign investor to successfully operate Ajaokuta Steel Complex without the full support of the local industry operators.
The drive to revive Ajaokuta Steel Complex is to set the stage for Nigeria as the leading industrial nation in the continent as earlier envisioned, which is being driven through the development of the Steel sector under the able leadership of the Honourable Minister of Mines and Steel Development, Arc. Olamilekan Adegbite; who has demonstrated passion and capability in promoting the steel sector in Nigeria, through his resolve that there is the need for the Federal Government to declare Iron and Steel as National Products for Rapid Economic Growth. ....

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No foreign investor can make Ajaokuta Steel Complex work ― MAN


No foreign investor can make Ajaokuta Steel Complex work ― MAN
No foreign investor can make Ajaokuta Steel Complex work ― MAN
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Manufacturers Association of Nigeria (MAN) has said that plan of the Federal Government to resuscitate Ajaokuta Steel Rolling Mill may be a mirage with the exclusion of local industry operators.
Speaking with Tribune Online in Ilorin at the weekend, the chairman, Basic Metal, Iron and Steel and Fabricated Metal Products sector of the MAN, Dr Kamoru Yusuf, said that the process of resuscitating Ajaokuta Steel complex was not properly structured.
Dr Yusuf, who discouraged proposed negotiation on the revival of the rolling mill with foreigners, said that it would be impossible for any foreign investor to bring Ajaokuta Steel company back to operation. ....

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