Bernard Nnagha, the Sole Administrator and Chief Executive, National Iron Ore Mining Company, Itakpe, Kogi State, says the Federal Government spends between N3 million and N4 million monthly to maintain the company.
Nnagha stated this in an interview with the News Agency of Nigeria on Friday in Lokoja.
The sole administrator also said the amount, representing overhead allocation, was spent to maintain the security of the $1 billion government invested in the company, among others, in spite its moribund condition.
Nnagha also said about 800 members of staff working in the company receive their salaries through the Integrated Pay Role and Personnel Information System.
He also said that the police had been providing security, while efforts were on to engage the Nigeria Security and Civil Defence Corp personnel to beef up security in the company.
Nnagha said the Osara dam envisaged for the washing of particles from mined iron ore had been completed.
He commended the Minister of Mines and Steel Development, Dr. Kayode Fayemi, for helping to solve the 21 months of power outage in the company.
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