omohayek:


Unfortunately, the answer is no. Ajaokuta was already an obsolete Soviet relic back in 1982, and steel production technology has moved on since then. Even efficient European and American steel producers are unable to compete with the Chinese, who have a serious domestic overcapacity problem, which they are trying to solve by dumping abroad.

Steel is a low-margin commodity business, and the Nigerian obsession with it just betrays ignorance and an obsession with prestige projects over economic realities. The truth is that the only people who have benefited from Ajaokuta over the last 40 years are politicians looking for an easy way to steal public funds.

Please preach it to the hill tops. This comment needs to be continuously reprinted.

Blue3k:


Here you go rambling again but won't simply bring financial report. A company around for 30 years operating in limited capacities, with staff and no financials and transparency to speak of. You wonder why it's been so currupt? Only mentally challenged kid like yourself would trust this.



Then accomplished next to nothing. Lol the company's spending billions doing what you can't answer. You can't show any results but want more money poured in.



See you took my advice your good at servicing you master on your knees. Stick your job as political prostitute they will notice you and throw a nice treat your way.

Keep rambling. Jobless mofo. I heard your Uncle Olisah Metuh collapsed in Church yesterday. Get well, family of thieves

deji15:


Keep rambling. Jobless mofo. I heard your Uncle Olisah Metuh collapsed in Church yesterday. Get well, family of thieves

Keep servicing your master on your knees political prostitute. I ask you for simple financial reports you dance around issue. Then failed because there are none like we told you. That's one reason why the curruption is rampant.

davidif:
Oh goodness! They are still flogging this dead horse?

Lol omg people are excited to see them pump more money I hope this time it will be different.

Blue3k:


Keep servicing your master on your knees political prostitute. I ask you for simple financial reports you dance failed because there are none like we told you. That's one reason why the curruption is rampant.

Your Auntie Dieziani is down with cancer after looting dry the treasury. All of you will be put to shame soon . You are confused. I have provided you with answers on the financial status of the Coy. But you are too dull to comprehend..

deji15:


Your Auntie Dieziani is down with cancer after looting dry the treasury. All of you will be put to shame soon. You are confused. I have provided you with answers on the financial status of the Coy. But you are too dull to comprehend..

Im not a political prostitute like yourself. I don't feel need to defend theives. I asked for financial statements you didn't provide. You gave press releases because you don't know difference. The reason being you're just good being a political prostitute only good at counting small bills tossed on ground.

Blue3k:

No financial documents or public available information to show any transparent change. 6 months down line we'll hear excuses. If Buhari can pull it off I'll give him credit but won't hold my breath.

vodutive:


And what is your alternative oh wise one. To continue importing steel that provides no jobs to Nigerians and eats up or forex?


The obsession with it is that no nation industrializes without steel!

I don't know what's worse, that someone actually wrote this or that 14 people agreed with it.

You cannot prop up a moribund industry artifically. its what I call alchemy.

If the fed govt truly wants Nigeria to develop, how about focus on making Nigeria a business friendly environment where commerce can thrive?
How about stamping out the corruption that is so endemic in Nigeria so that foreign investment can flood in?
How about creating stable institutions that people can trust so that this country can take the next step in its development?

No, they won't do any of the above instead they are trying to trying to be involved in free enterprise by trying to prop up a dead industry. Let the free market work!!!!!!

Blue3k:


Im not a political prostitute like yourself. I don't feel need to defend theives. I ask for financial statements you didn't provide. You gave press releases. You don't know difference because your just a political prostitute only good at counting small bills tossed on ground.

You can deny all you want, You are a thief and a close relation of those who looted our treasury. Otherwise, you will see the progress and the good intention of the current administration. You are confused .References has been made on the amount spent so far, assets and the production capacity of the company. Once operation commences, revenue will come. Buhari will pull it off.

Leadership Crisis In PDP Seriously Affecting Staff Salaries I understand your frustration.

Guyman02:


Comments like the above was what destroyed Ajaokuta, the Western countries and their IMF/World Bank who were in a cold war with the Soviet Union who built the Ajaokuta Steel Mill advised Nigeria to rather buy cheap steel from places like Australia instead of spending more money to fully complete it and let the Russians have a foothold in Nigeria, our military rulers who did not understand much of international politics quickly bought their idea and get the project in a comatose situation.
The coupists failed to consider the long term benefits of having a vibrant steel industry, now another ignoramus here is advising us again to go to China and buy cheap steel again. The thunder wey go fire you still dey wear singlet.

Can't you differentiate between private enterprise and the govt? its not the job of the govt to be buying steel it should be the job of private enterprise.

deji15:


You can deny all you want, You are a thief and a close relation of those who looted our treasury. Otherwise, you will see the progress and the good intention of the current administration. You are confused .References has been made on the amount spent so far, assets and the production capacity of the company. Once operation commences, revenue will come.

Are you still mad your can't find financial documents. Now your back on your official job as political call boy. How much do they pay you to shill. I'm sure it's a family business. Hope your raise you children to service their masters as well as you. You have excellent skill if you can type type and service at same time. Maybe they gave your jaw the day off.

No they haven't these are gross estimate no actual finance statement. That's why you post press release instead of simply getting real financial statements.

Blue3k:


Are you still mad your can't find financial documents. Now your back on your official job as political call boy. How much do they pay you to shill. I'm sure it's a family business. Hope your raise you children to service their masters as well as you.

No they haven't these are gross estimate no actual finance statement. That's why you post press release instead of simply getting real financial statements.

Buhari will pull it off.

Leadership Crisis In PDP Seriously Affecting Staff Salaries I understand your frustration.

deji15:


Buhari will pull it off.

Leadership Crisis In PDP Seriously Affecting Staff Salaries I understand your frustration.

Its funny your only good at shilling and giving mouth service to political parties. Oil up your knees when your done. Anyway I'm done since you can't find finance statements or report on how budget.

Blue3k:

No financial documents or public available information to show any transparent change. 6 months down line we'll hear excuses. If Buhari can pull it off I'll give him credit but won't hold my breath.

vodutive:



Like I said you are ignorant, there are many inefficient domestic industries that are kept alive by countries around the world for the simple reason that they have a multiplier effect on the rest of the economy. Tomorrow idiots like you will complain we import toothpicks and nails.

Why did you have to insult him? Its what people do when they don't have a valid response.
Besides, govts propping up failing industries do not work. This is antiquated economic thinkng.

Blue3k:


Its funny your only good at shilling and giving mouth service to political parties. Oil up your knees when your done. Anyway I'm done since you can't find finance statements or report on how budget.

Your description of how you service your masters is disgusting. Keep the detail to yourself, not interested. You are confused as I have provided information on financial status of the coy. Investors will not invest in what they cannot recoup from. Example is the Chinese and Ukranian Govt investment interest that I have provided.

Josmila:


What are you perpetually bitter about my friend? Can this government ever do any good in your eyes? When government say they will create x amount of jobs, do you ever pause and ponder where these jobs will come from? Do you know how many jobs that steel complex would create if resuscitated?

But he is right. The govts job is not to create jobs that's for private enterprise . There job is to create an environment for businesses to fluorish.

deji15:


Your description of how you service your masters is disgusting. Keep the detail to yourself, not interested. You are confused as I have provided information on financial status of the coy. Investors will not invest in what they cannot recoup from. Example is the Chinese and Ukranian Govt investment interest that I have provided.

Ok have fun with your political prostitution call boy. Like you said well see. 2017 will come and go.

Blue3k:


Ok have fun with your political prostitution call boy. Like you said well see. 2017 will come and go.

Like I earlier wrote, keep the details of the disgusting things you do with your political masters to yourself. Not interested. Yes, 2017 will come and go and stock will be taken

deji15:

Like I earlier wrote, keep the details of the disgusting things you do with your political masters to yourself. Not interested. Yes, 2017 will come and go and stock will be taken

Your jokes are so weak . You just now came up with the I know you but what I line after 8 replies? Being a political prostitute and having unoriginal comebacks is lamest combo. Stick to dancing for Pocket change. Maybe you hit your head on ground when you we're bowing down to buhari imagine in shine.

Anyway we'll see I got page bookmarked.

@Blue3k, forget that corruption-in-personified Mental And Deranged (MAD) id.iot.

He is as corrupt as his political masters. From General "Savings" Buratai to SGF "grass-cutter" Lawal.

Personally, I hope he benefits from the corruption going on, else it'd be a shame.

Look at the way he is perpetually defending corruption because it is APC corruption.

And you wonder why Nigeria is still backward.

-Lord

the revival na to achieve their goal of ban of tokunbo cars na

http://punchng.com/senate-committee-seeks-ban-used-car-importation/


meanwhile,

kia don join tokunbo sales sha. . iz all gud...iz all gud

http://punchng.com/kia-joins-elizade-cosharis-used-car-business/

ahtink dem don ban cotonou tins abi?

http://punchng.com/fg-bans-importation-vehicles-land-borders/

na God dey look them. the small cotonou business weh man dey use survive- now na container and high sea only

vodutive:


Abeg leave the fool taking nonsense, I'm sure left to him we should continue importing petrol because our refineries are outdated....slowpoke!

All these idiots that go to school to regurgitate without thinking.

Well he is also right on that point. Govt has no right getting involved in the free market. There job is to regulate and create an environment where business can flourish not to be getting involved in every industry. This is one of the greatest drivers of corruption in any economic system: state run companies.

davidif:


Well he is also right on that point. Govt has no right getting involved in the free market. There job is to regulate and create an environment where business can flourish not to be getting involved in every industry. This is one of the greatest drivers of corruption in any economic system: state run companies.

naaaa.. research have shown that all governments actually are involved in the free market- e.g ford issue(US govt) and Airbus issue (EU). same with South Korea et all. Toyota was protected in its infancy too n.b.

i agree though that the govt should sell shares of these companies to the public- however, singapore has a high percentage of sucessful state run companies- state run companies are not the cause of corruption- it can happen in private run companies- instability can be a cause- one govt destroys the other, records get missing, fights destroy records, poor infrastructure make records hard to find, easily misplaced, etc.

the only corruption we are dealing with are the ones whose records were somehow preserved.
plenty don pass under bridge.

Blue3k:


Your jokes are so weak . You just now came up with the I know you but what I line after 8 replies? Being a political prostitute and having unoriginal comebacks is lamest combo. Stick to dancing for Pocket change. Maybe you hit your head on ground when you we're bowing down to buhari imagine in shine.

Anyway we'll see I got page bookmarked.

Delusion of grandeur. You self identify as a political harlot (by trying to project yourself on me) and how is that my problem? Get lost. Ode.

deji15:

Delusion of grandeur. You self identify as a political harlot (by trying to project yourself on me) and how is that my problem? Get lost. Ode.

Your still still commenting. Your masters must be paying you well. Tell them to teach you difference between budget and financials request. Let them also teach you what financial statements is. None of your links answer what happen last year with money.

Lol you only know how to copy my lines hack. Your comebacks are too weak. I already pointed out your projections at least 5 responses ago. When you went wild with partisan politics.

Blue3k:


Your still still commenting. Your masters must be paying you well. Tell them to teach you difference between budget and financials request. Let them also teach you what financial statements is. None of your links answer what happen last year with money.

Lol you only know how to copy my lines hack. Your comebacks are too weak. I already pointed out your projections at least 5 responses ago. When you went wild with partisan politics.

You are as confused as ever. In your delusion you assume you are making sense, but you are not. You are empty. The conversation started with me making reference to budget proposal vs budget release as contained in my post. I have explained to you what financial report is applicable to a company that is yet to start production and earning revenue. Comparing the company financial of a company that is not yet earning income with an operating organisation like NNPC is the height of your idiocy and shows how confused you are. The important thing at this stage is the asset and liability of the company and that is why investors have indicated interest and ready to pump in billions of dollars into the company. Opinion of a low life internet rat like yours does not matter. Get a life dude and buzz off.

deji15:


[s]You are as confused as ever. In your delusion you assume you are making sense, but you are not. You are empty. The conversation started with me making reference to budget proposal vs budget release as contained in my post. I have explained to you what financial report is applicable to a company that is yet to start production and earning revenue. Comparing the company financial of a company that is not yet earning income with an operating organisation like NNPC is the height of your idiocy and shows how confused you are. The important thing at this stage is the asset and liability of the company and that is why investors have indicated interest and ready to pump in billions of dollars into the company. Opinion of a low life internet rat like yours does not matter. Get a life dude and buzz off.[/s]

If a company has staff and had operations it's need financials. Case closed. The link didn't tell what they did with buget. All these years. The pump in billions got up to 98% completion and did nothing meaningful to speak of.

You explained that because they have no revenue they don't need to report financials because you don't care about transpency. The assets and liabilities isn't public either. This type of information is available in financials but you would know that.

Here's the qoutes fromantic your link Mr Autistic. Does any of this tell you what they did wit the project for past 30 years to not have any results to speak of. 4 billions dollars 3 decades.

[Total investment for the entire project is $4.6bn.”

He said, “About$ 513m was required to complete Ajaokuta project. This place is the bedrock of Nigeria’s development. The first phase of the project has reached 98 percent completion but was abandoned in 1994.

He added that the Light Mill section of the plant, which would require N43bn to become functional, could produce 400, 000 tonnes of steel per annum at full capacity.
He also said that with an investment of the N43bn, the plant could generate an average annual income of N80bn.
He added that the Thermal plant of the firm which has installed capacity of 110 megawatts of electricity, requires N5bn to become operational and would generate N18.7bn annually.

It was taken over by India’s Ispat Industries in 2004 but that concession was revoked after just four years. - See more at: http://africanbusinessmagazine.com/sectors/infrastructure/nigerias-ajaokuta-steel-plant-better-late-never/#sthash.rXJYWoxG.dpuf

The plant by 1994 was reckoned to be at 98% completion in terms of equipment erected. Some completed units of the Plant operated at different times but had to short down due to non-availability of fund. -See more at: http://www.ajaokutasteel.com/site/pagef.php?cnt=Background%20of%20Organization

[s]

Blue3k:


If a company has staff and had operations it's need financials. Case closed. The link didn't tell what they did with buget. All these years. The pump in billions got up to 98% completion and did nothing meaningful to speak of.

You explained that because they have no revenue they don't need to report financials because you don't care about transpency. The assets and liabilities isn't public either. This type of information is available in financials but you would know that.

Here's the qoutes fromantic your link Mr Autistic. Does any of this tell you what they did wit the project for past 30 years to not have any results to speak of. 4 billions dollars 3 decades.

[/s]

You are still regurgitating your trash. Total money spent so far and expenses are not hidden. Use your senses and stop being foolish. You have said many goodbyes but your narcissistic tendency and obsessive compulsive disorder will not let you go away. Get a grip and get a life dude...

deji15:
[s][/s]

[s]You are still regurgitating your trash. Total money spent so far and expenses are not hidden. Use your senses and stop being foolish. You have said many goodbyes but your narcissistic tendency and obsessive compulsive disorder will not let you go away. Get a grip and get a life dude...[/s]

Yawn are you still crying with providing links. To show transparency. 2017 we'll see. So make your next response your last.

If it's not hidden post link showing it from official source. You post everything and respond to my comments without posting that.

[s]

Blue3k:


Yawn are you still crying with providing links. To show transparency. 2017 we'll see. So make your next response your last.

If it's not hidden post link showing it from official source. You post everything and respond to my comments without posting that.

[/s]

You started the conversation with me, not the other way round. Now buzz off..

these fighting people av ruined a good thread chaiii- we understand sha- iz d pain of loss and the pangs of hope in youguyz datz getting you rilled up
one day one day -Naija go better
or rather, make it a duty to fix the country a bit before you die- then pass on the torch.

shibiyu:


naaaa.. research have shown that all governments actually are involved in the free market- e.g ford issue(US govt) and Airbus issue (EU). same with South Korea et all. Toyota was protected in its infancy too n.b.

i agree though that the govt should sell shares of these companies to the public- however, singapore has a high percentage of sucessful state run companies- state run companies are not the cause of corruption- it can happen in private run companies- instability can be a cause- one govt destroys the other, records get missing, fights destroy records, poor infrastructure make records hard to find, easily misplaced, etc.

the only corruption we are dealing with are the ones whose records were somehow preserved.
plenty don pass under bridge.

Where has statism ever worked? Please do tell me. When have govts ever been good at running anything? I will be waiting for your response.

shibiyu:


naaaa.. research have shown that all governments actually are involved in the free market- e.g ford issue(US govt) and Airbus issue (EU). same with South Korea et all. Toyota was protected in its infancy too n.b.

i agree though that the govt should sell shares of these companies to the public- however, singapore has a high percentage of sucessful state run companies- state run companies are not the cause of corruption- it can happen in private run companies- instability can be a cause- one govt destroys the other, records get missing, fights destroy records, poor infrastructure make records hard to find, easily misplaced, etc.

the only corruption we are dealing with are the ones whose records were somehow preserved.
plenty don pass under bridge.

It is one thing to loan a car company an amount of money. Its a completely different thing to take over ownership and run the company yourself.

Lastly, for you to say that the state run companies are not the cause of corruption is completely laughable. Have you ever heard of Gazprom? What of Petrobas that implicated Lula and his predecessor Dilma Rouseff? and let's not even forget our own NNPC.

Like the great Ronald Reagan once said "Govt is not the solution, govt is the problem".