He said that the major issue with the company was the concession that was done in 2005 by President Olusegun Obasanjo to Global Steel, which resulted in litigation and a demand of N7bn dollars by Global Steel.
“One of the major albatross on Ajaokuta was the concession that occurred under President Olusegun Obasanjo to Messers Global Steel Industries. Things went sour and they took us to court. The court case went on for about 12 years, but thanks to a patriotic Nigerian lawyer in the UK who handled the case very effectively.
“Global Steel came with a demand of $7bn but our lawyer was able to puncture holes in their case and at the end, they had to settle for $496m,’” he said. He, however, said that the government was still committed to ensuring that the company was concessioned to a competent bidder with technical and financial capacities to optimise its potential.All rights reserved. This material, and other digital content on this website, may not be reproduced, published, broadcast, rewritten or redistributed in whole or in part without prior express written permission from PUNCH.
Because they don't have programs for it
Ajaokuta steel completion date postponed!!! That's how one-Nigeria will promise you good things but NEVER deliver... They'll do same for 'state police'. They'll not fund it... Self-Determination NOW! NINASisRight NINASPlanIsTheAnswer WeStandWithNINAS TransitionNow EndSARS
Before do you think they're serious?
It won't be completed until a business minded person lyk peterobi takes over.
Ehix07 OvieNews fkeyamo it's very funny how AjuriNgelale embarrassed himself on this
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