Engineer Suleiman Umar Mohammed, the Assistant General Manager (New initiatives) and the Special Adviser Technical to the Sole Administrator of Ajakouta Steel Company Limited, has stated that Nigeria spends a whooping N6 trillion annually on the importation of steel.
Mohammed made this known while addressing newsmen at the premises of Ajaokuta Steel Company Limited in Lokoja, Kogi State on Friday.
He lamented that it was unfortunate the country spends huge amount on importation of steel, while allowing Ajaokuta Steel to dilapidate.
While buttressing on the benefits of a steel company to the country, Mohammed stated categorically that a functioning and vibrant steel making industry in the country facilitates defence and armament production, aid in construction work and helps in the creation of jobs opportunities.
Mohammed also regretted the fact that other auxiliary agencies that are supposed to support Ajaokuta Steel have stopped production and this has hampered the progress of the company.
While commending the Minister of Mines and Steel Development, Dr. Kayode Fayemi, for his efforts in ensuring that the objectives of the steel company is met, Mohammed reiterated the fact that the diversification plans of the government will also be improved greatly if Ajaokuta Steel Company is brought back to function fully.
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