The sunk cost of this project is mindboggling, my jaw was on the floor listening to Natasha Akpoti's report.

Chai if you go to some states they are so dry and desolate. 90% of the roads are in ruins.

why does PMB want to sell these company, ask him to probe Obasanjo's Govt because they looted funds using the company during OBJ's administration.

The problem with steel factory is more than what a lot of people know , selling a stell industry is like selling your wife or selling the army of a country and expect the army buyer to come and protect the country , stell production is the bedrock of industrialisation and modernisation , that u will be technologically advanced is your stell industry , there have never been any of these developed country that have their stell industry being managed buy another country , there is no developed country that does not have sound steel industry , the main problem with this our steel industry is that it was built when India, China and other Asian countries does not have much technology , the west refused to build anything technological to 3rd world countries so that there will not be technology transfer or if they will build it , it will be so massive almost as big as one big town so that it will be too complicated for learners to read or understand , the Soviet forcefully started building the steel plant against the wish of the west but still abandoned it at a stage which is international conspiracy , it is only chinese that will agree to manage it because they don't play by the rules , to them if u want to learn , learn, e no concern dem, but giving it to china is very risky , the remaining option is for nigeria to go for smaller stell industry they can manage and understand built by Chinese, as for this one no matter how much u put in it the west will frustrate it never to work , if u can remember when one of our president wanted to borrow money from imf to complete it , they told him the industry is out dated that he should close it down but still this same people are selling motor and aeroplane that is up to 30 years to us , abi old motor no de move? , it may not move as fast as modern motor but at least it can move

THE WHITES SHOULD COME BACK OOO NIGRIA IS NOT FIT TO BE A COUNTRY I DON PRAY I DON TIRE

AND STEEEL PLANT AROUND THE WORLD COST LESS THAN $10BILLION DOLLARS NIGERIA HAVE SPENT $80 BILLION DOLLAR AND ITS
STILL NOT FUNCTIONING THEY ARE USING THE PROJECT TO STEAL NIGERIANS MONEY SPIT ON NIGERIA GOVERMENTS

I weep to hear that,Ajaokuta mill,may not function, in our lifetime!yes,that's what it means.i went on a school field trip in '93,and was awed at the expanse of land it occupies and the technology that was on displayed.and even dreamed of working there, after graduation.Alas,years after and billions,sunk in,we still can't get a single I-beam,rolled off it!
Even with Russian technology, it ought to have stood the test of time and functioned for some years,awaiting modernisation. Its no fault of Russia,but the myopic government that can not see the opportunity that such functioning Mill,could bring and millions that would have been saved,from it complimenting imported steel.
The rails;to what purpose,if the plant isn't to function soon ?just another means to siphon off ,funds,I bet.
Smh......a thing of shame, I must say.

Flets:
Nigerians need to understand that the Chinese loans collected by Buhari was tied to the 60% JV interest of the Nigerian govt in the IOCs.

Meaning in the next few years, Chinese will take over/ run our oil and gas industry because this govt is bent on looting the entire funds.

Nigeria is doomed.

I won't be surprised if this is true

APC completed project!

Sell Biko

boxypane:

Where did you get this unethical analysis from? Back of your TV?

That is how China gives its loans they build roads rails and bridges in Africa and tie its repayment to national assets Has happened in Ethiopia

Pavarottii:
I tot wen this govt came on board... They allocated money to that place and put it as one of their achievements that it's back and running... Abeg where did that money go to or what is this am reading..m


Our Mumu don do...

We av to Atikulate.

How do you expect illiterate people to make sound business decisions

forgiveness:


Well, I don't know anything about Ajaokuta but I know people will use it as a safe means of traveling within that area.

The speed of the Train is 120 km per hour.

Idiot. The rail has been laid there for years. If there is no steel plant, who wants to travel to Ajaokuta @ 120km/hr?

Where in the world does it cost $80 billion dollars to build just a simple stinking steel plant?!

What will a (much needed) power plant now cost to build?
Naija is the MVP of facepalms.

CocoaOla:
AND STEEEL PLANT AROUND THE WORLD COST LESS THAN $10BILLION DOLLARS NIGERIA HAVE SPENT $80 BILLION DOLLAR AND ITS
STILL NOT FUNCTIONING THEY ARE USING THE PROJECT TO STEAL NIGERIANS MONEY SPIT ON NIGERIA GOVERMENTS

This is the primary way money is looted from the country.
80% of it is thru projects. It is the cleanest way than just going to pack bags of money due to EFCC having more guidelines.

Now it's all government project scams i.e If I give you this government project, make sure you buy cement from ABC company and your metal from XYZ company....which costs x100 of the normal price of said materials.

Of course, ABC and XYZ company will codedly kick back a huge chunk of their proceeds to said politicians or help the politician acquire things (basically what Madueke did). And on and on the cycle goes.

Something that if they even manage to build, they will still not maintain it. With naija attitude, the whole thing will be rusted and bush-looking within a year of use.

A lot of us have to finish our time on earth before naija can trully move forward...and I don't just mean the politicians. We as a people get problem.

Hopefully the following generations learns from our general stupidity towards handling things.

Alzirida:
Not a good one.
Why not privatise and have 30% stake

They should totally privatize it sef, as far as am concerned

Flets:
Nigerians need to understand that the Chinese loans collected by Buhari was tied to the 60% JV interest of the Nigerian govt in the IOCs.

Meaning in the next few years, Chinese will take over/ run our oil and gas industry because this govt is bent on looting the entire funds.

Nigeria is doomed.

A Big Fat Lie,don't speak on thing you know nothing of.

legitimatefrank1:
They should totally privatize it sef, as far as am concerned

The House of Representatives (Nigerians) refused.

Nigeria for sale!! Go beee!

I can't believe the CBN governor is saying all this.

But fayemi ex minister of steel did promise Nigerian that Abeokuta will commence operations two before a quit to contest for governorship Apc with liar

I seriously doubt the $80bln quoted in this article.

What I remember from previous articles ranged from $5bln to $8bln and nowhere near $80bln.Maybe na typo. But the should sell the damned thing to credible private investors though. Govt has no business in business.

But ex minister promise the Ajaokuta will be operatioal in two months apc with liar

Ajaokuta town needs deliverance ,even if they sell that plant it won't work . A project of 1979 could not function till date something is wrong somewhere may be Govt didn't settle the land owners and they cursed the project..

All the major industrial concerns in the country should be privatised to reduce the extreme criminality of corruption.
Where is the Nigerian National shipping line today? where is the National Nigerian Airlines? dead and buried through corruption, so also many uncountable numbers of government owned business establishment and enterprises.

tommenoh:
I weep to hear that,Ajaokuta mill,may not function, in our lifetime!yes,that's what it means.i went on a school field trip in '93,and was awed at the expanse of land it occupies and the technology that was on displayed.and even dreamed of working there, after graduation.Alas,years after and billions,sunk in,we still can't get a single I-beam,rolled off it!
Even with Russian technology, it ought to have stood the test of time and functioned for some years,awaiting modernisation. Its no fault of Russia,but the myopic government that can not see the opportunity that such functioning Mill,could bring and millions that would have been saved,from it complimenting imported steel.
The rails;to what purpose,if the plant isn't to function soon ?just another means to siphon off ,funds,I bet.
Smh......a thing of shame, I must say.

God bless you for this sir; I wept the last time I was there.

Until you read and compare the terms, the cases can never be thesame.

It's just media propaganda

Ugosample:


he has a point, and I think I'll believe him because that's the modus operandi of the Chinese

They have done that to Sri Lanka, Jamaica, Greece and Zambia

so what stops them from doing it to Nigeria too?