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Reps, Stakeholders to Source $500m for Ajaokuta Steel

By Dipo Olowookere

Speaker of the House of Representatives, Mr Yakubu Dogara, has expressed willingness of the green chamber to collaborate with stakeholders to raise the $500 million needed to finally revive the moribund Ajaokuta Steel Company in Kogi State.

Mr Dogara made this known on Monday when he led members of the House Committee on Steel to the firm on an assessment tour.

The Speaker lamented the present state of the steel company and promised to join forces with stakeholders in the industry to ensure the firm gets back on its feet.

He said the Ajaokuta Steel Company has the huge potential to boost the economy of the nation and provide more jobs for Nigerians.

“At inception of the eighth House of Representatives, we included diversification of the economy in our legislative agenda.

“In furtherance of this aim, we introduced sectoral debates and other initiatives and today, we embarked on a fact finding mission to Ajaokuta,” the Speaker said.

Commenting further, Mr Dogara pointed out that, “Ajaokuta holds immense potential for job creation and economic development,” promising that the, “House will consult with stakeholders to work out ways to source for the $500 million needed to complete the last phase of the project.”

He said, “The revival of moribund industries is of utmost importance to us at the House of Representatives and today’s fact finding mission has brought us one step closer to making Ajaokuta work again.”

Also on the entourage to the Ajaokuta Steel Company on Monday was the Governor of the state, Mr Yahaya Bello, who commended the Speaker for the intervention.

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Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan.

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