An audit conducted by Nigerian and Ukrainian experts showed that a total of $652m is required to reactivate and complete the Ajaokuta steel plant, The PUNCH has learnt.
According to the information sourced from the company’s website in Abuja on Monday, the audit was conducted in April 2018 by Nigerian engineers, technicians, and other professionals as well as two Ukrainian experts in steel plant,
According to the audit, the controversial plant, which was started in the 1970s, had reached 95.7 per cent completion.
On its portal, the company said that the audit report was presented to a former Minister of State for Mines and Steel Development, Mr Bawa Bwari, by the Sole Administrator of the company, Mr Sumaila Abdul-Akaba.
It did not state when the report was presented to Bwari. However, Bwari took charge of the ministry (till May 29 when the first tenure of President Buhari ended) following the departure of a former Minister of Mines and Steel Development, Dr Kayode Fayemi, who had gone to contest the governorship election in Ekiti State in 2018.
The company said, “The technical audit report on Ajaokuta Steel Plant, which ascertained that the plant is 95.7 per cent erection ready has been submitted. Reactivation and completion requirement stands at $652m.
Source: Punch Newspaper
