Ajaokuta Steel Promises “Made-in-Nigeria” Car by 2007
 27th NOV 2006

•As Board visits Ghana, S/Leone to confirm exportation claims

Board members of the Ajaokuta Steel Company Limited (ASCL) have disclosed they have made trips to Ghana and Sierra Leone to confirm claims by concessionaires of the complex -Global Infrastructures Nigeria Limited (GINL) - that they have commenced importation of steel products to those countries.

 The members spoke as GINL insists the company has exported N564, 301, 010 ($4, 340, 777) worth of rebars from its Light Section Mill (LSM) and another N198, 491, 410 ($1, 526, 957) worth of wired coils from its Wire Rod Mill (WRM) to the two West African countries for the months of February-May this year.
 The two Nigerian members of the 10-member board –Mrs. Ngozi Olojeme and Chief  Dayo Abatan - said after a physical inspection of the complex, it has come to the conclusion that the company as currently managed by GINL, has all it takes to manufacture a 100 percent “Made-in-Nigeria” car.

 According to Abatan, “We should task the next president of Nigeria to produce “Made-in-Nigeria. Ajaokuta can deliver “Made-in-Nigeria” car in eight months because it has the biggest foundry in Africa. We are on the board to protect the interest of Nigeria and we can never shut our eyes, or look the other way if anything goes on there that does not agree with the interest of Nigerians. In fact, I can assure Nigerians that Ajaokuta is on course to meet the dreams of the founding fathers.”

 He particularly commended the Nigerian Content policy of the Company adding that were GINL to leave at the expiration of its 10-year concession, Nigerians would run the complex comfortably. “GINL has brought repair/maintenance culture to Ajaokuta”, Abatan said.

 Corroborating Abatan’s position, Mrs. Olojeme said they also confirmed from labour leaders at the complex before and after the Board’s meeting last week that accusations of asset-stripping labelled against GINL were frivolous and without substance.

 “With what we saw at Ajaokuta, Nigeria is on its way to becoming the hub of steel in the West African sub-region. We spoke to the labour leaders who are Nigerians and they told us it is not practicable to strip Ajaokuta of its assets because of the security measures put in place. In fact, we confirmed that because the blast furnace has not begun full production, excess power from the Company’s Independent Power Plant has been channelled into the national grid. That about three percent of national power supply comes from Ajaokuta.”

Back to Top
Post Your Feedback