Tuesday, October 4, 2022
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HomeBusinessAjaokuta: Adeyemi Urges FG to Allow KGSG Takeover

Ajaokuta: Adeyemi Urges FG to Allow KGSG Takeover

Senator Smart Adeyemi, representing Kogi West Senatorial District has urged the Federal Government of Nigeria to allow Kogi State Government takeover the Ajaokuta Steel Complex.

Inexplicable

Adeyemi who spoke to journalists yesterday noted that the moribund Iron and Steel Company at Ajaokuta is equally capable of providing billions of dollars to boost the industrialisation and strong economic base for Nigeria through foreign investors.

Kaduna State Building Iron Ore Firm

Besides the Senator said the Kaduna State Government’s intervention model through the building of a State owned Iron Ore firm recently, with potential for creation of thousands of jobs and wealth for the State, should be adopted by way of bringing the Ajaokuta Steel Complex under the control of Kogi State Government.

Allow KGSG Takeover

He therefore urged the Federal Government to allow Kogi State Government to take over the complex in other to creat wealth and employment for millions of unemployed and competent Nigerians.

Ajaokuta Steel Company
Ajaokuta Steel Company
Poor Economic Policy
According to him; “It is painful and poor economic policy to abandon Ajaokuta Iron and Steel which has the potential of providing gainful employment to over 50,000 Nigerians”.
Game Changer for Monolithic Economy

“It is saddening that a potential game changer for the monolithic economy which started over 40 years ago is still at the stage of abandonment. If the Federal Government is not ready to see to its completion and functionality, it should be handed over to Kogi State, which I believe will do the needful the way the Kaduna State Government built an iron ore firm recently with potential for creation of thousands of jobs and quantum wealth for the State“.

PMB Led FG

He added, “The President Muhammadu Buhari-led Federal Government is, no doubt, trying as far as building of infrastructure is concerned but such legacies as Ajaokuta Steel without completion and functional refineries will not make much impact economically”.

Fix Idle Refineries

Adeyemi also urged the Federal Government to leverage the gains from current sales of crude oil at the international market to fix idle refineries or construct new ones.

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