The Federal Executive Council (FEC) has on Wednesday approved the engagement of transaction advisors for consultancy services for the concession of Ajaokuta Steel Company Limited as well as the National Iron Ore Mining Complex in Itakpe in the sum of ₦853.26 million inclusive of 7.5per cent VAT.
This was made known by Lai Mohammed, the Minister of Information and Culture on behalf of the Minister Of Mines and Steel.
Lai Mohammed noted that the ongoing development is a significant move to resuscitating both the Ajaokuta steel company and the iron ore company in Itakpe.
The 24,000-hectare project when revived will not only advance the industrial revolution in the country but will save foreign exchange, engender industrial development as well as technology transfer.
BizWatch Nigeria recalls that President Buhari had embarked on a state visit to Russia on the 22nd and 24th October 2019, and resolved that the Ajaokuta steel complex which the Federal Government has made massive investments, must be resuscitated.
Permanent secretaries
President Muhammadu Buhari during the FEC meeting which held at the State House in Abuja swore in four permanent secretaries.
The new permanent secretaries are Mrs Beatrice Jeddy-Agba, Kachollom Daju, Malla Shehu Ibrahim, Dr Mary Ogbe.`
