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Ajaokuta Steel Company: Al-Makura calls for special funding

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Ajaokuta Steel Company: Al-Makura calls for special funding


Chairman, Senate Committee on Solid Minerals, Mine, Steel Development and Metallurgy, Sen. Tanko Al-Makura, has called for special funding towards reactivating the Ajaokuta Steel Company in Kogi State.

He made the call on Thursday while presenting the 2022 budget report of his committee to the Senate Appropriation Committee.

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The lawmaker stressed the importance of the solid minerals sector to the diversification of the economy saying that the company was key to Nigeria’s industrialization.

In his words, “The Ajaokuta Steel Company is one of the very vibrant sectors that have been left in deep slumber.

“Also, inadequate funding is one of the major problems of the sector. Not only that certain bureaucratic, but red-tapism within and around agencies, departments, and ministries has also stalled this most desired project.

“For the past two years when the initiative was put forward to reactivate the company, there has not been any meaningful allocation to the company.

“With that, the much-expected takeoff or reactivation of the company might not be made except where there is special fund. I will like to request the chairman to look passionately into this request.”

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Al- Makura added: “We have talked many times about the need to reactivate this company and I know as a fact that President Muhammadu Buhari is very passionate to ensure that before he takes a bow, the company will become very effective and drive the process of proper industrialization in the country.”

On the budget of the ministry, Al-Makura appealed to the appropriation committee to consider ways and means of finding special funding for the ministry otherwise, those things the ministry was expected to achieve might not be realizable.


Ajaokuta Steel Company: Al-Makura calls for special funding

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