COVER
Tinubu Approves Committee to Revive Ajaokuta Steel Plant
By David Torough, Abuja
President Bola Tinubu has approved the formation of a committee comprising key stakeholders to revive the Ajaokuta steel plant to boost economic growth.
The committee is made up of the Minister of Steel Development, Minister of Finance and Coordinating Minister of the Economy, Minister of Industry, Trade and Investment, and Solid Minerals.
The Minister of Steel, Shuaibu Abubakar-Audu disclosed this to State House Correspondents on Thursday in Abuja after he and the Minister of Defence, Mohammed Badaru briefed the President on their recent trip to China.
Abubakar-Audu underscored critical points for the plant’s revival, emphasising the establishment of military hardware capabilities.
He explained that a Chinese steel group, Lu’an Steel Holding Group has committed to investing in a new plant in Nigeria, while an Indian steel group plans to send an advanced team for collaboration.
“We just saw Mr. President, Bola Ahmed Tinubu, the minister of defense, Alhaji Mohammed Badaru and I myself, met with him earlier this afternoon. And we discussed the three critical matters. Number one, we briefed him on the Minister of Defence and I’s recent trip to China.
“We were in China on the 1st of January 2024, we were there till the 8th of January. And met with the Lu’an Steel Holding Group, which is one of the largest steel companies in China, and is among the top 20 steel companies in China. They produce about 20 million metric tons of steel per annum.
“We had very meaningful discussions with them, and they agreed and made a commitment to set up a new steel plant in Nigeria, where thousands of jobs would be created, and they would invest billions of dollars in foreign direct investments into Nigeria.
“In that same regard as well, basically, our discussions with Lu’an Steel Holding Group, they mentioned that they would send an advanced team to Nigeria after the Chinese New Year, sometime at the end of February 2024. And we briefed Mr. President that when the team is on ground, we would like to also give them audience with Mr. President, which he approved. Mr President was very happy with the development.
“The third thing as well, is that the reason the Minister of Defence and I jointly met with Mr. President was that we’re setting up a military hardware capacity and capability in Ajaokuta steel plant and based on that the Chinese team would help us to build that military hardware capabilities in Ajaokuta, in one of the production units. And so that’s the first agenda on the table for the joint meeting,” the minister said.
According to him, the agenda extended to the plant’s contribution to national infrastructure projects through the production of iron rods.
“The second agenda for discussion with Mr. President, was that Mr. President gave me approval towards the end of last year to raise some money to restart and rebuild the Light steel Mill of the Ajaokuta Steel Plant to be able to produce iron rods, which iron rods would be taken by the Ministry of works.
“The Minister of Works, Senator David Umahi, has already written a letter to me through his ministry, guaranteeing that they will be off takers in the iron rods that are being produced. Basically, the President under the Renewed Hope Agenda, which the Minister of works is driving, plans to construct about 30,000 kilometres of roads across Nigeria, where they will need about 7 million metric tons of iron road.
We can produce about 400,000 tons of those iron rods in Ajaokuta if we’re able to restart the steel plant.”
Abubakar-Audu also said the President has also approved local fundraising initiatives.
“Mr President gave approval for us to raise money locally. The first phase of the project for Ajaokuta Steel Plant, to revive the entire steel plant will cost somewhere between $2 to $5 million and however to restart the light steel section of the mill is going to cost about N35 billion. So we’re going to the market to show proof of consent to raise this money from local financial institutions to be able to restart that.
“We’ve gotten some offer letters from some financial institutions. And we think that you know, we should be able to conclude that in the next few days or few weeks for us to be able to hit the ground in Ajaokuta and start that project.
“The last item on the agenda was feedback to Mr. President on Jindal steel. If you recollect on the sidelines of the G-20. Meeting in India, Jindal steel committed to invest in $5 billion. So I briefed Mr. President and I’ve met with representatives of Jindal steel, and they’re very serious about their commitment. And we’re currently looking for a land that is close to a gas station that has a port and is close to the natural or mineral resources such as, you know, iron ore and the likes to be able to get them the ideal location. Either they set up a greenfield or they acquire an existing plant, such as, you know, the Delta steel plant.
“So those are the things on the table. Mr. President has given us go ahead to set up a committee with some very critical stakeholders within the government, including the likes of the minister of finance the CME, including the likes of the Minister of trade and investments, to the Minister of Defense, Minister of Solid Minerals and myself to be able to get this thing running and get it off the ground.
“So the Renewed Hope Agenda is here to stay. We think that if we’re able to complete all these projects that have been approved by Mr. President, including the revival of Ajaokuta, we should be able to create not less than 500,000 jobs and bring billions of dollars into the economy. And so Mr. President is very happy with that development. And the Minister of Defense and Alhaji Mohammed Badaru and I came to brief Mr. President, this afternoon thank you very much.”
Asked the initial amount that will be invested, the minister said: “It will be in billions of dollars. The final amount has not been determined, when they come to the country and make a determination they would meet Mr. President, they will meet key stakeholders, we would look at a map of where the key mineral resources are, where will give them access to be able to transport their goods to the final products in the markets, to rail lines, ports, gas, you know, a big enough land to be able to accommodate everything that is required. Once that is determined they will then know how much they’re going to invest but it will be in billions of dollars, but the exact amount has not been determined.”
The Minister acknowledged challenges facing the plant, emphasising the gradual nature of Ajaokuta Steel Plant’s revival and the need for support from all stakeholders, including the Transmission Company of Nigeria.
Asked how investors will take the government serious with the disconnection of electricity from Ajaokuta Steel Plant due to N30 billion debt and what the explanation for the debt is since the plant has not been in dull capacity, Abubakar-Audu said investigation was ongoing.
He said: “I mean these are some of the things that need to be clearly looked into. Like you mentioned, one of the things I spoke to the MD of Ajaokuta today (Thursday), and this was one of the questions I asked and we’re going to get to the bottom of it, why consumption of so much electricity in a place that is not operating at full capacity. Part of what we also need to do is that we’re trying to revive Ajaokuta in a collegiate system, in piecemeal, and so we may not have the capacity to be able to pay all those outstanding amounts immediately.
“Part of what the MD of Ajaokuta told me is that most of the money is in interest payments. And NBET (the Nigerian Bulk Electricity Trading), the electricity company that has disconnected it, is also a government agency. So if we as a government ministry, government agency are trying to revive Ajaokuta working hard to do that, we should not have another hand within the same government making things very difficult for us.
“And so part of what we plan to do is to sit down on the table in the next few days as quickly as possible to be able to come up with a plan so that they can put it back on the grid and put things back in order. Is a gradual process and Ajaokuta cannot be revived overnight. This is a plant that has not been working for 45 years, it is a difficult task to try and get it back on track.
“So, we need the support of the entire government apparatus, we need support from stakeholders. We need support from everyone to be able to do this difficult job. This job is not a job that myself and Mr. President can do it alone. We need the support of everyone including the electricity company to be able to help us to get this project back on track so that we can create the hundreds of thousands of jobs I want to create for Nigerians.“
By Laide Akinboade, Abuja
As part of efforts to reposition the newspaper for optimum corporate performance, the management of Asset Newspapers Limited, Publishers of DAILY ASSET, has announced the appointment of David Torough as the Editor of the Abuja-based national daily.
A statement by the management said the appointments were part of the company’s new strategy to further penetrate the various states in the country and raise its readership and patronage.
“DAILY ASSET is widely acceptable across the country and to maintain our leadership position, we need to increase management presence, hence the need to create new Bureau offices in some locations outside Abuja and Lagos,” the statement quoted the Publisher/ Editor-in-Chief, Dr Cletus Akwaya to have said.
In a statement yesterday, Publisher and Editor-in-Chief of the fast-growing daily, Dr. Cletus Akwaya said the appointment was part of the new strategy to properly situate the paper for better productivity.
“DAILY ASSET has a commitment with the Nigerian people. We are determined to weather the storm and give Nigerian readers a Newspaper that satisfies their yearnings and reading pleasure and we can only do that with the right set of professionals,” the statement said.
Akwaya, a former Commissioner of Information from Benue State said the difficult times being faced by Nigerians posed a great challenge to the media as the people deserved credible information with which to make choices.
“We have a bond with the people, to offer credible information at all times in the best tradition of the Nigerian Press and on this scale of objectivity, truth and fairness, we pledge to remain steadfast no matter the challenges,” Akwaya was quoted to have said.
He said the newspaper will maiantin its daily print run and circulation to all states of the federation and urged advertisers to take advantage of the deep penetration of the Daily Asset brand to send their messages.
Torough, the new Editor has had a steady rise in the Newspaper in the last five years.
A graduate of Mass communication of the Benue State University, Makurdi, Torough joined the company in 2022 as Benue State Correspondent. He was spotted for his brilliance and redeployed to Abuja the following year and promoted to Deputy News Editor. He was subswuently named Deputy Editor of the paper, a position he held until the recent appointment.
Torough has attended several journalistic workshops and trainings to properly equip himself for the task ahead.
The statement also said the Management named Eze Okechukwu as Deputy Editor.
Before his elevation as Deputy Editor, Eze has been Deputy Politics Editor and DAILY ASSET Newspaper correspondent covering the Senate, having joined the organization in 2021.
Born on March 10, 1975, Eze holds a Masters Degree in Mass Communication from the Enugu State University of Science and Technology.
Eze began his journalism career with Daily Star, Enugu and later worked with Daily Trust Newspaper, Abuja as sports reporter.
Aside from his journalistic excellence, he has a great deal of passion for sports.
From Ngutor Dekera, Kaduna and Aliyu Askira, Kano
Northern governors and traditional rulers yesterday called for the suspension of mining activities across the region for six months, blaming illegal mining for worsening insecurity in many states.The resolution was contained in a communiqué issued after a joint meeting of the Northern States Governors’ Forum and the Northern Traditional Rulers’ Council held at the Sir Kashim Ibrahim House, Kaduna.
The meeting, chaired by the Gombe State Governor and NSGF Chairman, Muhammadu Yahaya, had in attendance the 19 northern governors and chairmen of the 19 states’ traditional councils. The Forum expressed concern over the escalating violence in parts of the North, including the killings and abductions recently recorded in Kebbi, Kwara, Kogi, Niger, Sokoto, Jigawa and Kano states, as well as renewed Boko Haram attacks in Borno and Yobe.“The Forum extends its deepest condolences and solidarity to the governments and good people of the affected states,” the communiqué said, noting that the attacks on schoolchildren and other citizens had become “unacceptable tragedies” that required urgent collective action.It commended President Bola Tinubu for what it described as the Federal Government’s “firm response” to recent abductions and insurgency threats, especially the rescue of some abducted pupils.The governors also saluted security agencies for their sacrifices on the frontlines.“We resolved to renew our support for every step taken by the President and Commander-in-Chief to take the fight to insurgents’ enclaves in order to end the criminality,” the Forum stated.A major highlight of the meeting was the North’s renewed push for the establishment of state police, with governors and traditional rulers insisting that decentralised policing had become inevitable.“The Forum reaffirms its wholehearted support and commitment to the establishment of state police,” the communiqué added, urging federal and state lawmakers from the region to “expedite action for its actualisation.”On illegal mining, the governors said criminal mining networks were fuelling violence and providing resources for armed groups.As a corrective measure, they asked Tinubu to direct the Minister of Solid Minerals to impose a six-month suspension of mining activities in order to allow for a full audit and revalidation of licences.“The Forum observed that illegal mining has become a major contributory factor to the security crises in Northern Nigeria. “We strongly recommend a suspension of mining exploration for six months to allow proper audit and to arrest the menace of artisanal illegal mining,” it said.To strengthen the fight against insecurity, the governors also announced the creation of a regional Security Trust Fund.Under the proposed arrangement, each state and its local governments will contribute ₦1bn monthly, to be deducted at source under an agreed framework.They said the fund would help provide sustainable financing for joint operations, intelligence-driven interventions and coordinated security responses across the region.At the end of the meeting, the Forum reaffirmed its commitment to unity and collective responsibility.“Only through unity, peer review and cooperation can we overcome the pressing challenges before us,” it declared.The Forum agreed to reconvene on a date to be announced.Meanwhile, Nigeria’s worsening security crisis took a grim turn on Monday as bandits launched fresh attacks in Kano State, abducting 25 villagers, even as the Federal Government raced to secure the release of more than 300 Catholic school children kidnapped in Niger State.In the early hours of Monday, armed bandits invaded Unguwar Tsamiya—popularly called Dabawa—in Shanono Local Government Area of Kano State, whisking away nine men and two women after shooting into the air and assaulting residents. The attackers also rustled two cows.A resident lamented the community’s helplessness: “We cannot do otherwise; most of us cannot leave because we have nowhere to go. This is our place, our land and everything is here.”The assault came less than 24 hours after a similar attack on Yan Kamaye in Tsanyawa LGA, a community along the volatile Katsina border.In Niger State, National Security Adviser Nuhu Ribadu has assured distraught families of St. Mary’s Co-Education School, Kontagora that the more than 300 students and staff abducted on November 21 will return home “soon.” Ribadu, who led a high-level federal delegation to the school on Monday, said the abductees are safe, though he offered no specifics on their location or the status of rescue operations.According to Daniel Atori, spokesman for the Catholic bishop overseeing the school, the NSA reassured officials: “The children are where they are and will come back safely.”The St. Mary’s attack is part of a worrying resurgence of mass kidnappings reminiscent of the 2014 Chibok schoolgirls’ abduction. Security analysts warn that banditry has evolved into a “structured, profit-seeking industry,” with hundreds of Nigerians abducted in November alone.The Kontagora school abduction occurred the same week 25 girls were kidnapped in Kebbi State—victims who authorities say have since been rescued through “non-kinetic” means. About 50 of the St. Mary’s hostages have also managed to escape.Ribadu’s delegation, which included the Minister of Humanitarian Affairs and the Director-General of the Department of State Services (DSS), reaffirmed the government’s commitment to securing the freedom of all abducted citizens.As communities from Kano to Niger continue to bear the brunt of these violent incursions, the escalating spate of kidnappings underscores the urgent national demand for a more decisive and coordinated security response.
By David Torough, Abuja
The Economic and Financial Crimes Commission (EFCC) said former Attorney‑General of the Federation and Minister of Justice, Abubakar Malami, will face a team of interrogators at its office daily throughout December.A credible source in the EFCC said on Monday that the daily appearance was part of an ongoing investigation into the whereabouts of an alleged 490 million dollars Abacha loot secured through a Mutual Legal Assistance (MLAT) request.
The source said that Malami, who was summoned for interrogation by the EFCC on Saturday, was barred from leaving Nigeria for the next one month.According to the source, one of the conditions for his release on Saturday was that he should report daily to the EFCC Headquarters in Abuja for further interrogation.The source said Malami would have to appear daily at the anti-graft office due to the volume of the investigation and the seriousness of the charges against him.”We seized his passport, it is the normal routine during investigation, but he has to report at the EFCC headquarters in Abuja every day for the next month.”He will be reporting for further investigation throughout December.”He will be reporting every day, starting from Dec. 1st to Dec. 31st.He will appear before the team of investigators for the entire month of December.”He will be reporting to EFCC for investigation for the period because of the volume of the investigation and the seriousness of the charges against him,” the source added.According to the source, a fact sheet on the former minister revealed that Malami had several issues to clarify with the EFCC within the coming weeks.“We have asked him to explain the whereabouts of the $490 million Abacha loot secured through MLAT.“We didn’t say he stole money, but he should account for the loot. This is one of the issues he will clarify to our investigators.”The commission cited the large volume of documents he must review and the need for extensive interviews as reasons for seizing his passport.The source said EFCC would not engage in a war of words but would release its findings after a thorough investigation.Malami, in a statement by his media aide, Mohammed Doka, on Monday in Abuja, however, described the EFCC investigation as a political witch‑hunt.He confirmed he honored an EFCC invitation on Nov. 28, describing the engagement as fruitful and expressing confidence that the probe would vindicate him.Malami described the EFCC’s allegations as baseless, illogical and devoid of substance, insisting they collapse under factual scrutiny.
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