Ajaokuta Steel FG to sell company to private operators

Fayemi added, during a visit to the Abuja Steel Mill, that the complex would function as a “purely private entity.”

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The Minister of Mines and Steel Development Kayode Fayemi speaks during an exclusive interview with Reuters in Abuja, Nigeria October 11, 2016. Picture taken October 11, 2016. REUTERS/Afolabi Sotunde play The Minister of Mines and Steel Development Kayode Fayemi speaks during an exclusive interview with Reuters in Abuja, Nigeria October 11, 2016. Picture taken October 11, 2016. REUTERS/Afolabi Sotunde
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The Federal Government will sell the Ajaokuta Steel Complex to private operators who can turn it around, Minister of Mines and Steel Development, Dr. Kayode Fayemi has said.

Fayemi added, during a visit to the Abuja Steel Mill, that the complex would function as a “purely private entity.”

The minister’s comments were contained in a statement released by his media aide, Olayinka Oyebode on Tuesday, March 14.

According to the statement, Fayemi said experts with proven track records and the required financial capability would be encouraged to key into the scheme through a competitive bidding process that would be transparent.

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The minister also said that the government is committed to ensuring Ajaokuta works, because it believes that a functional Ajaokuta Steel complex would greatly assist the country’s developmental drives.

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