Founded as Nigeria's flagship industrial plant in the 1980s, the Ajaokuta Steel Company has been moribund over recent years, lying in a comatose state. Despite the efforts of several governments to get it going again, it has failed to revive and current solid minerals minister Dr Kayode Fayemi is keen to sell it off to private investors.
Minister of state for solid minerals, Hon Abubakar Bwari, has confirmed that a Chinese group of firms have indicated an interest in buying the plant. He added that the group of companies which are into mining, exploration, financing, provision of technologies, commodity exchange and minerals product beneficiation, have indicated to the federal government that they want to acquire the mill.
Hon Bwari, who met with the group yesterday in his office, stated that the government is ready to woo investors into the solid minerals sector. He restated the federal government’s determination to encourage and partner with genuine local and foreign investors to develop the solid minerals sector in the country.
According to the minister, the government was ready to assist and cooperate with any investor in the solid minerals sector. He added that an enabling environment has been provided for the smooth operations in the sector and asked the Chinese group to submit a detailed presentation on areas of interest for the benefits of the parties involved.
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