Complete Ajaokuta, NIOMCO, Stakeholders Beg FG

• Complete Ajaokuta, NIOMCO, Stakeholders Beg FG

Stakeholders in the mining and steel industry have urged the Federal Government to complete and make the Ajaokuta Steel Complex and the National Iron-Ore Mining Company, Itakpe.

The stakeholders made the plea at the National Council for Mining and Mineral Resources Development held in Kaduna last week.

Controversy has been trailing the Federal Government’s plan to give out the Ajaokuta Steel Complex as a concession after a failed deal with the core investor, Global Steel Holdings Limited, granting it the right to the management of NIOMCO in exchange for freeing Ajaokuta from legal encumbrances.

In a communiqué made available to our correspondent in Abuja on Tuesday, the council, which was chaired by the Minister of State for Mines and Steel Development, Mr Bawa Bwari, urged the Federal Government to establish a single digit interest fund for lending to operators in the mining sector.

The communiqué read in part, “The Federal Government of Nigeria should continue with its current efforts to ensure that Ajaokuta Steel Company Limited and the National Iron Ore Mining Company plants are completed and made operational.

“Investment funding should be made available at single digit interest for companies interested in developing small-scale production of minerals and metals raw materials, and for aggressive industry cluster development.”