By Correspondent in Abuja.
The Federal Executive Council (FEC) has approved the sum of N853 million as contract for the revitalisation and operation of the Ajaokuta Steel Company as well as the National Iron Ore Complex, Itakpe in Kogi State.
In this vein, FEC approved contracts worth N10.48 billion and $27.09 million for the Federal Ministry of Power as part of the government’s effort at repositioning the nation’s power sector.
The Minister of Information and Culture, Lai Mohammed, disclosed this on Wednesday in Abuja while addressing the State House Correspondents after the week’s virtual FEC meeting presided over by President Muhammadu Buhari.
He said the contract worth N853.25 million is about appointing contractors that would run the process of concessionng of the two companies.
The Reporters recalls that the journey towards the establishment of steel industry in Nigeria commenced in the early 8os.
Details later.
Edited by Dada Ahmed.
