President Muhammadu Buhari says his administration spent over $400 million to resolve some knotty issues around the ownership of Ajaokuta Steel Complex in Kogi State.
Buhari stated this on Thursday in Okene while in Kogi State on a one day official visit to inaugurate some legacy projects initiated and completed by Governor Yahaya Bello administration.
The President who spoke during a town hall meeting in Okene described the money as well spent.
The President said the Federal Government has been working with the Kogi State government to reposition the state as an investment hub through the activation of the vast solid minerals deposits in the state
“No project that is dear to our heart like the Ajaokuta Steel Complex located in Kogi state which we inherited in moribund condition from previous administrations.
“The steel company has dispute, both locally and internationally, I am glad to say that through our concerted efforts, we are able to settle the dispute by paying some money and the company is now ready for concessioning to competent private investors that will operationalize it for the people of Kogi State and Nigeria at large.
“We are in talk with a reputable company in United State and by God’s grace, Ajaokuta Steel Complex , very soon will come back to serve the people of Nigeria.
“The significant of making Ajaokuta Steel working again is enormous as it will generate over 500, 000 jobs for Nigerian youth and also generate high revenue for the state and the country to the tune of over $1.6 billion annually.
“Nigerians should be rest assured that my administration will pursue the issue of Ajaokuta Steel Complex to a logical conclusion before I leave office as president of Nigeria,” Buhari said.(vitalnewsngr.com)
