Guest
BUHARI is the number one nemesis to the Ajaokuta Steel Company Limited. There has been a persistent outcry by industry watchers, stakeholders in the steel industry and the National Assembly over Nigeria’s neglect to complete Ajaokuta Steel Complex. In its renewed efforts to complete Ajaokuta Steel Complex, the Buhari’s administration reached out to Russia and a deal was sealed that will bring back Russia to complete ASCL. The deal between the two leaders was reached on the sideline of the Russia-Africa Summit in Sochi, Russia, in October 2019. Russian engineering and construction group, MetProm will be working to bring the facility (ASCL) into operation, while the state-owned Russian Export Centre, JSC, and the Cairo-based African Export-Import Bank (AFREXIMBANK) were to pool funds in excess of $1.4 billion to revive the plant whose construction commenced about 43 years ago. Nigeria was said to be waiting for Russian expatriates to begin the technical a…
