Multi-billion Naira Steel Mill Opened At Magboro, Ogun State - Politics - Nairaland
Nairaland Forum / Nairaland / General / Politics / Multi-billion Naira Steel Mill Opened At Magboro, Ogun State (11837 Views)
Lucky Igbinedion’s Mansion In Abuja (See The Multi-billion Naira House) / FG Commissions 60 Billion Naira Steel Mill In Ogun State / China To Invest $6b In Ajaokuta Steel Mill (2) (3) (4)
| Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by kingingkinging: 10:10am On Dec 07, 2012 |
The Minister of Mines and Steel Development, Musa Muhammed Sada, has said that a new era await mining and steel production in the country will soon experience a lift in activities, going by policy input and restructuring being undertaken by the ministry in the two divisions. According to him, the government is ready to offer necessary support to operating firms in the steel sector, just as mining is being made to benefit all segments involved in the mining process. The minister stated this when he visited the new integrated steel mill belonging to Western Metal Products Limited, situated at Magboro, Ogun State. Western Metal Products Company Limited on Friday began a test run of its new multi-billion naira integrated steel mill. The minister said while the government would continue to initiate new policies and schemes to encourage investor participation in mining activities, informal mining sector would continue to be taken care of. Besides, he said plans were in the offing to ensure that Ajaokuta Steel Company, the backbone of steel rolling mills in the country, got required attention in terms of the appointment of the right management. He said the government made a peculiar mistake in its past efforts to privatise the Ajaokuta Steel Complex by putting emphasis on possession of money as the most important consideration in its choice of management team. He said, “Past efforts did not achieve the desired results because money was put ahead of other considerations in the selection of management team. In such a process, three things are important: money, requisite management skill and adequate understanding and belief in the environment. “In past attempts at privatisation, capital was given the most important place. After all the ongoing scuffles over with the immediate past management have been settled, the Federal Government has decided to be careful by emphasising possession of the right management skills and in-depth understanding of the environment and belief in its peculiarity as key conditions for selecting a new management for Ajaokuta Steel Company.” The minister said his visit to the new WEMPCO integrated steel mill, ahead of the formal inauguration of the new facility, was informed by the importance the government attached to the position of steel in its economic transformation efforts. He said a quick resolution of all the problems associated with the non effective working of Ajaokuta Steel Company would have multiplier effects on the operations of steel rolling mills and other sectors of the economy. Besides, he said under the new management of Ajaokuta Steel Company, “the government will not step back; it will be involved in a supervisory role.” The Group Managing Director, WEMPCO, Mr. Lewis Tung, while conducting the minister round the sprawling facility, said steel remained the basic metal-backbone of all industries, just as it happens in advanced countries of the world. He said the new integrated steel facility had production capacity of 700,000 metric tonnes and a production machinery of five-stand Tandem Mill, which is the first of its kind in Africa. He described the factory as one set to produce cold roll steel sheet of up to 0.15mm in thickness and coils of the same dimension and above. Tung listed the facilities at the plant to include a 52-megawatt generator for power supply; a water treatment and recycling plant; an acid generating plant; an air purifier and an annealing line. He listed the benefits from the steel companies to include a boost in economic activities of the immediate communities, local, state and the country; increase in downstream economic activities, general empowerment and job creation for artisans, like technicians, drivers, auto technicians and fabricators; and training and technology transfer. Source http://www.punchng.com/business/industry/fg-pledges-new-era-for-mines-steel-development/ |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by kingingkinging: 10:11am On Dec 07, 2012 |
Is Ogun becoming the new Lagos-Ota, Magboro,Agbara etc becoming heavily industrialized |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by emiye(m): 10:19am On Dec 07, 2012 |
Ogun State seems to be attracting heavy investment in the industrial sector in recent times, i hope the trend continues. Great news! |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by seanet01: 10:23am On Dec 07, 2012 |
emiye: Ogun State seems to be attracting heavy investment in the industrial sector in recent times, i hope the trend continues.We are marching towards the goal. ACN is moving our state towards greater heights. No more room for mediocrity. South West Oni baje. Obaje Ti! |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by taharqa: 11:01am On Dec 07, 2012 |
seanet01: We are marching towards the goal. ACN is moving our state towards greater heights. No more room for mediocrity. South West Oni baje. Obaje Ti!Plz read d article again OKPEE, its d FG dat is pushing dis...stop lying like i told u on d thread on YouWIN..thnx |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by seanet01: 12:57pm On Dec 07, 2012 |
taharqa: Plz read d article again OKPEE, its d FG dat is pushing dis...stop lying like i told u on d thread on YouWIN..thnxI bet you have comprehension problem. If not you will have been able to know that WEMCO the owner of the steel mill is OWNED BY THE ODUA INVESTMENT, A CONGLOMERATE OWNED BY THE SOUTH WEST STATES WHICH ARE UNDER ACN. You need to zoom off this inferiority complex from ya brain. 3 Likes |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by seanet01: 1:01pm On Dec 07, 2012 |
You need to do another registration on nairaland. This time you can register TALAKA. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by drnoel: 1:01pm On Dec 07, 2012 |
Wait if its only Ogun they r talking of, what of kwara. I recently saw a foreign documentary done with a Nigerian team of meteorologists that says kwara has the second largest iron ore deposits in Africa. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Gbawe: 1:34pm On Dec 07, 2012 |
emiye: Ogun State seems to be attracting heavy investment in the industrial sector in recent times, i hope the trend continues. I hate to say it but it is precisely due to the work of the Governor. When some of us were excited about his sound plans for attracting investment to Ogun State and Industrialising the State, some mocked that because of the clannishness and bias that makes it virtually impossible to discuss any topic here. Now, everyone is seeing the efforts of the Governor paying off. The most effective critics or most responsible citizens, awake to their obligations, should make genuine effort to be fully aware of the plans of leaders so we can gauge their efforts at delivering. http://www.tribune.com.ng/index.php/news/28046-ogun-targets-10000-industries Ogun targets 10,000 industries |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by TRILLIONIAR: 1:36pm On Dec 07, 2012 |
NA IRON I WON CHOP 2 Likes |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Pataki: 1:38pm On Dec 07, 2012 |
seanet01: You need to do another registration on nairaland. This time you can register TALAKA. Absolutely priceless!  The advancement of the South West region surely gives some brainless buffoons on this forum nightmares. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by naptu2: 1:41pm On Dec 07, 2012 |
At last! I've always wondered why Ogun has not been able to attract more investment. Imagine, for example, you provide an independent power plant and tax relief to attract companies to Agbara. Given its proximity to Lagos, the fact that it would be cheaper to do business there than in Lagos, the proximity to the ports and the Badagry Expressway project, it would be a masterstroke. Great news. It's always good to read about development, rather than negative stories. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Nobody: 1:42pm On Dec 07, 2012 |
drnoel: Wait if its only Ogun they r talking of, what of kwara. I recently saw a foreign documentary done with a Nigerian team of meteorologists that says kwara has the second largest iron ore deposits in Africa.Ok. Even if your romour was correct, what has Pindinpin been able to achieve in that state? NADA!! |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Demdem(m): 1:53pm On Dec 07, 2012 |
seanet01: I bet you have comprehension problem. If not you will have been able to know that WEMCO the owner of the steel mill is OWNED BY THE ODUA INVESTMENT, A CONGLOMERATE OWNED BY THE SOUTH WEST STATES WHICH ARE UNDER ACN. i think u are right here.  |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by GARRIx7(m): 1:55pm On Dec 07, 2012 |
taharqa: Plz read d article again OKPEE, its d FG dat is pushing dis...stop lying like i told u on d thread on YouWIN..thnxBARAWO.......  |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by babaowo: 1:56pm On Dec 07, 2012 |
This is good development..... more jobs to jobless. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Walexz02(m): 1:59pm On Dec 07, 2012 |
Gud news |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Nobody: 2:12pm On Dec 07, 2012 |
taharqa: Plz read d article again OKPEE, its d FG dat is pushing dis...stop lying like i told u on d thread on YouWIN..thnxshut up! Which Fg is pushing this? This is a private firm that partnered with its host state, the Fg has nothing to with this, the minister was just there to inspect the project,after all it falls under his ministry. Stop mis-leading people, A.c.n & pdp were not involved.we like to politicise everything in this country! |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Nobody: 2:12pm On Dec 07, 2012 |
ACN propagandists don plenty for internet these days. Whatever the case, the company is a private company and both the state govt and federal govt must have created the environment that encouraged the company to thrive. Neither the state nor federal govt owns the company so no need to convulse over it |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by seanet01: 2:18pm On Dec 07, 2012 |
Sincere 9gerian: ACN propagandists don plenty for internet these days. Whatever the case, the company is a private company and both the state govt and federal govt must have created the environment that encouraged the company to thrive. Neither the state nor federal govt owns the company so no need to convulse over itPrivate company ko private part ni. Bloody liar |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by jimino(m): 2:22pm On Dec 07, 2012 |
4 once we heard a news dat gladens our hearts. If FG cn help in bringing up oda companies y shld nigeria graduate b dying 2 get oil jobs? FG pls do more, may God give u pple d wisdom. Amen |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by topazjosh(m): 2:28pm On Dec 07, 2012 |
why must you attach acn to this,me think is natural,amosun may b tryin thru his policies but dis av bn happenin since osoba,ogd days,is just normal too normal,where as lagos influence ogun and also ogun state indigenes are mostly industrialist. My point is stop advertising a c n,if this type of company can be est in ekiti or osun then i ll bliv a c n policies re d masqurade behind d industrial revolution. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by oraclefemi(m): 2:49pm On Dec 07, 2012 |
good news... yet it will be criticized ..Naija ! |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Nobody: 2:57pm On Dec 07, 2012 |
hisson3: shut up! Which Fg is pushing this? This is a private firm that partnered with its host state, the Fg has nothing to with this, the minister was just there to inspect the project,after all it falls under his ministry. Stop mis-leading people, A.c.n & pdp were not involved.we like to politicise everything in this country!I understand the ANXIETY to celebrate achievements of ones prefered political party. However, our comments should be guided by sound knowledge. I know some ACN thugs hold the opinion that everything good must be to the credit of ACN. But the UNDENIABLE FACTS on this matter are as follows: 1) ALL natural resources, including- crude oil, gas, iron ore- in Nigeria BELONGS to the FG and not the state 2) a steel company MUST have to mine the iron ore or work with a mining company to have a raw material feed stock 3) the licence for the mining MUST come from the FG 4) the policy that will encourage mining by private companies MUST come from the FG 5) without mining of iron ore, there will be no steel company 6) the policy of FG in terms of taxes on imported steel for instance will CREATE MARKET for the finished product of the local steel company. And so and forth. The state govt on the other hand may have also contributed to the company being a success by for instance, providing free land, security, tax relief, counter-part funding,etc I dont have details about this particular steel company in Ogun, but the points raised above are FACTS and should convince sensible persons that the success of that company must have had input from both federal and state govt. This issues are easy to understand if one understand the fact that a private company or even state govt CANNOT start an oil exploration company or even a refinery(equivalent of a steel company) without support of FG. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by Nobody: 3:00pm On Dec 07, 2012 |
ACN governors are commissioning completed projects that are benefiting the people while the PDP federal government is only announcing new mega projects that do not affect the people in any way. When they manage to commission a project, its usually uncompleted. When nigerians really want Nigeria to move forward, we know what to do. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by ayodot(m): 3:07pm On Dec 07, 2012 |
Gbawe: To say its the handy work of the present governor of Ogun state, that the steel mill came in into play, can't be true. Looking at the time he came into office and the time it will take to build a full functioning steel mill, I'll say it the work of previous administrator. most of is first year was spent on witchhunting. |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by drnoel: 3:12pm On Dec 07, 2012 |
maryjames9: Ok. Even if your romour was correct, what has Pindinpin been able to achieve in that state? NADA!!We really should stop sentiments cos its won't lead us anywhere as a people. If kwara has the largest deposits why shouldn't they have a mining firm located there? |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by naptu2: 3:14pm On Dec 07, 2012 |
Ajaokuta Steel Company is in what state? |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by FreeGlobe(f): 3:22pm On Dec 07, 2012 |
multi bilion really. hehehehehe |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by aribisala0(m): 3:36pm On Dec 07, 2012 |
How and why does ACN take credit for this after 18 months in office?? Whilst I would be loath to give credit to the rogue OGD are we honestly saying that this facility was conceived and built in the last 1 or 2 years?. Ultimately businessmen took a decision to invest in Ogun and this has little to do with any party. Long may it continue. In fact it is inevitable really that Ogun state will become the "greater" lagos or Lagos extension as Lagos fills up If indeed Wemco is owned by O'dua Investment co then we would have to give credit to PDP who were in control of the SW until recently 1 Like |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by aribisala0(m): 3:58pm On Dec 07, 2012 |
Sincere 9gerian: Please do not speak ignorantly. A steel mill is NOT in the business of mining .They are quite distinct activities. Where does this notion that ALL natural resources belong to the FG. come from? So your claim the y must have a licence from the FG is ill-informed. Steel companies often BUY iron ore from mining companies Firstly even oil does NOT belong to the FG it belongs to the federation. The rules that apply to oil and iron ore does NOT apply to ALL natural resources as you claim. Educate your self better e.g Solar energy,dredged sand and quarried rocks bush meat to name a few are quite natural resources which no not accrue to the FEDERATION there are many others.1 Like |
| Re: Multi-billion Naira Steel Mill Opened At Magboro, Ogun State by chatterly: 4:41pm On Dec 07, 2012 |
Wempco group is not owned by odua group,it is owned by the Chinese/hong kong TUNG family who have been in Nigeria since the early seventies.The company seems to be pally with the ACN government as they are officially the owners of oriental hotels in lekki. 1 Like |
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