The Senate on Thursday agreed the sum of $1
billion from the Federal Government share of
Excess Crude revenue be devoted to the immediate
completion of the Ajaokuta Steel Company. The Upper Chamber also said all monies that may
from time to time be appropriated and authorised
by any tier of government should be part of the
funding for the completion of the company. It said all loans or grants from time to time made to
the country for the purpose of completing the
Ajaokuta Steel Company should be accommodated. This followed the adoption of the “Ajaokuta Steel
Company Completion Fund Bill, 2018 passed by the
Senate yesterday. The Bill slated for concurrence, was presented by
Senate Leader, Senator Ahmed Lawan. The proposed legislation stated the monies in the
Fund shall be applied by the minister subject to
appropriation by the National Assembly only for
the purpose: (a)The construction, improvement, extension,
enlargement and replacement of infrastructure and
works, including the provision, acquisition,
improvement and replacement of other capital
assets required in respect of or in connection with
the completion of the Ajaokuta Steel Company project. (b) The acquisition of land and of any right or
interest in or over land and in respect of the use of
any invention. ( c ) The carrying on of any survey, research or
investigation preparatory to the under taking of
any such purpose as is referred to in paragraph (a)
and (b) or the formation of any plan or scheme for
the development, improvement, of Ajaokuta Steel
Company project. Deputy Senate President, Ike Ekweremadu, who
presided, said that the Bill if signed into law would
go a long way to facilitate the quick completion of
the Ajaokuta Steel complex. The Senate also adopted the Presidential
Programme on Rehabilitation and Reintegration
(establishment and implementation) Bill 2018. The Bill provides legal instrument to implement the
Presidential Amnesty programme in the area of
disarmament, demobilization and reintegration.

way to go. Its a win win. Revenue to be created