Kogi governorship aspirant plans to revive Ajaokuta steel

Posted by News Express | 16 July 2015 | 2,803 times

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An aspirant in the Kogi governorship elections on the platform of All Progressives Congress (APC), Dr Habeeb Yaqeen on Wednesday said he would revamp Ajaokuta Steel Company if he became governor of the state.

Yaqeen stated his in an interview with newsmen at the APC national secretariat in Abuja.

He said that he had outlined a three-prong plan for the resuscitation of the company, which he hoped would provide employment for the people and contribute to the development of the state.

``Like I told you, we need about N200 billion to revive Ajaokuta Steel. We can work with the Federal Government and go to the Debt Management Office (DMO) to raise the funds.

``The DMO will raise bonds which people all over the country and those living abroad can buy into,’’ he said.

He said that another way to revamp the steel company was to go to the Central Bank of Nigeria (CBN) and seek an intervention fund ‘’just like it put up N200 billion intervention for the agriculture sector’’.

``Also, I have met with people outside the country who are leading steel industry owners in the world and they are ready to come and take it over and run it.

``So, once you put up these three, all you need is to work closely with the Federal Government and prove that these are beneficial for Nigeria, my state, and everybody.

``These are the three options; let us pick the one that is the best,’’ he added.

Yaqeen said the problem with the previous efforts to revive the company was lack of patriotism and political will to execute the projects. (NAN)

Photo shows: Ajaokuta Steel


Source: News Express

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