FG inaugurates Ajaokuta presidential project Implementation team

The federal government has inaugurated the Ajaokuta presidential project inauguration team to help revamp the company in line with the recent agreement reached with Russia to resuscitate the steel company.

Secretary to the government of the federation, Boss Mustapha who chairs the team perform the inauguration in Abuja on Monday.

Mustapha noted that the Ajaokuta steel plant has languished in economic unproductivity for about four decades and previous efforts at reviving it had proved abortive.

He said the need to prevent avoidable massive foreign exchange losses at the company necessitated the current presidential intervention.

Mustapha noted that revamping the Ajaokuta steel plant presents a unique opportunity to make the country West Africa’s largest fully integrated steel producer and accelerate her industrialization in steel-related industries.