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Nairaland Forum / Nairaland / General / Politics / FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company (25772 Views)
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Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by omohayek: 11:00am On Jan 09, 2017 |
Flaghouse1: Because too many ordinary Nigerians are obsessed with steel as if it were a magic ingredient, ignorance the political class are more than willing to exploit to loot. By far the biggest return investments the Nigerian government could make would be in roads, railways and electricity, all of which would improve economic conditions for all sectors of the economy, but these areas don't have the strange sex appeal steel seems to hold for a lot of ignorant people. The strangest thing about the steel obsession is that if you look at the fastest-growing and most profitable sectors in the global economy, none of them are based on knowledge of steel at all! AI, biotechnology, drug development and software development have no direct connection to steel, but a single tech firm like Facebook or Google makes more profit in a year than the world's entire steel industry has probably made in the last decade. The steel worshipers seem to be stuck in a 1930s time warp. 7 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:01am On Jan 09, 2017 |
omohayek:can you name any major economy whose industrial and infacstructural growth rely on foreign steel? 3 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Kunlexxxx(m): 11:02am On Jan 09, 2017 |
Guyman02:You are on point! I like that Putin guy, he doesn't exploit other nations like Obama and America. Russia can do it, it's about agreement 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by AZeD1(m): 11:02am On Jan 09, 2017 |
vodutive:This is 2017, if you start with an inefficient technology, you will never catch up. There's no point spending scarce resources on a dead plant. The government should give for free the plant to the original builders and use this money for more important things. 2 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:06am On Jan 09, 2017 |
AZeD1:At least if you start with an inefficient steel industry you can kickstart other industries and maybe your steel industry can crow large enough to install more efficient plants but one thing is for sure and this you can be sure of ......you cannot catch if you are not even in the race and you will never be in the race if you import. 3 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by koladebrainiac(m): 11:06am On Jan 09, 2017 |
omohayek:Its easy now Na to tax the steel coming from china like the way they banned rice importation Tho successful government can take bribe from government buy flooding the country with china cheap steal |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by AZeD1(m): 11:12am On Jan 09, 2017 |
vodutive:No you cannot kick-start other industries because nobody would buy your steel. Nigeria should be moving towards our competitive strengths not trying to capture the lost decades. We should be spending any spare money on our power infrastructure and not on reviving dead steel mills. Anybody who wants to open a steel mill is free to do so but government money should not be used. PS: Tata is about to sell it's steel mill in the UK because it makes no business sense and that is in a country with light, and transport infrastructure. What chances does Ajaokuta have? 3 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by bisiki2: 11:13am On Jan 09, 2017 |
vodutive: I am afraid your debate/argument lacks substance. Find a way to express your opinion without insult. 2 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by youngsahito(m): 11:13am On Jan 09, 2017 |
Another food on the table of looters |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by obailala(m): 11:13am On Jan 09, 2017 |
Horlawoomey:The kind of questions some people ask though |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by obailala(m): 11:14am On Jan 09, 2017 |
Horlawoomey:The kind of questions some people ask thoug |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:15am On Jan 09, 2017 |
omohayek:Bros you are the ignorant on here... When you hear induatrial revolution what it simply mean is steel revolution. China, Japan, Korea, Singapore, India, Brazil did not get it right until when they got there steel right. Look all around you and know what steel means. Maybe you need to know that all thise bridges and building you see around are steel covered with concrete. Maybe they need to inform you that whenever you hear industrial machineries or agricultural machineries...they are simply referring to steel. You are so ignorant that you listed rail road and electricity as goverment greatest investment without realising that they are all bye product of steel economy. Bros AI, software development, bio tech and the rest you mentioned are not stand alone.... They arw mostly there to enhance performance of machineries that are built with steel. 6 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by obailala(m): 11:17am On Jan 09, 2017 |
Guyman02: You are quite right, even if it's cheaper outside, reviving our steel industry would get many people employed, the deserted town of Ajaokuta would become revived and also become an economic city, and with some years of experience in steel production, we would also learn to produce cheap steel too. After all the Chinese who produce cheap steel don't have 2 heads, besides, we also have cheap labour in Nigeria just like China. 4 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:17am On Jan 09, 2017 |
AZeD1: We talk about building infrastructure, building railways....do you know how much steel is used in buildings, bridges etc? do you know how much steel that is required if we were to really build rail across the length and breath of Nigeria over the next few decades? But guess where it is coming from...China and guess who will have jobs...Chinese citizens aand in all of these you will be using your scare foreign exchange for something you have the capacity to produce locally and your people are unemployed? This is the real problem with Nigerians...we don't think. It is better to pay more to use Nigerian steel to build our rail lines, our bridges and put our people in work and conserve our forex than to save a few bob importing cheaper steel. It's penny wise pound foolish!!! If people can't understand this, I give up. 6 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by muhammad72(m): 11:19am On Jan 09, 2017 |
Some people are so funny. If this government abandons the ajaokuta steel project you will say they've abandoned it. Now that they are working on it you are here saying they can't compete with China at pricing. What I want all of you to understand is simple. Yes we can't compete with China but how is importing steal from China helps us with jobs? Exchange rates are what they are today largely because of Nigeria's inability to get more from crude sales that they normally do. We virtually export nothing but crude. We import everything; food, cloth, building materials, TOOTHPICK, petrol (after we sell our crude oil), drinks, etc. We will never move forward as a nation economically to improve infrastructure and the well being of our own people until we manufacture our own. Steel may be expensive at the beginning but with time more steel companies will come on board which will bring about competition in the steel market in the long run. That will force the price of steel down. This government is not all about what they can get. I believe the APC and PDP led governments are all corrupt but the APC are more passionate to moving Nigeria in the positive direction than the PDP. Boko Haram menace almost over, agricultural sector is bn revived now we eat our own rice. Aliko Dangote's refinery to come on board in 2018 which will force down the price of petrol, now the steel company which I think the government after working on it will raise taxes on steel importation to force you buy our own steel which is good (more money in the economy and more jobs), a now functioning mining sector, which I believe in 10 to 15 years from now we will be able to sell what's not crude oil to other countries. Even though we are marching slow, I believe as the citizen of Nigeria that we are marching in the direction that's best for me and you. We are marching on the right direction. And I believe president Muhammadu Buhari will not put his own interests ahead of the interest of almost 200 million people. We should all be patient as patience is key. God Bless The Federal Republic of Nigeria God Bless Us All. 5 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by udees: 11:19am On Jan 09, 2017 |
DropShot:What do you know about Abuja Airport--it is not a project--The airport project was design,contracted and built by the immediate past administration--the company is CCEC--with a rail line connecting the new terminal--Take your money and trave to Abuja and find out about the airport before you mis-inform the public What the minister of state for Aviation is doing is to re-surface the run ways that has a crack-the question is at how much. Don't try to praise somebody on a project you don't have an idea of--they are not building abuja airport--go to abuja and see it by yourself before you sing this wrong praises. 1 Like 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Emekamex(m): 11:20am On Jan 09, 2017 |
vodutive: This is not entirely true, the problem is the government isnt following the right steps; before building industries, the precursors or raw materials should be readily available. At the moment govt is not mining iron ore or allowing private companies to do so. Doing so will bring in the needed investors into the steel industry. The simple fact being even if this govt eventually make this steel industry functional, there will be a great problem of availability or raw materials which in turn mean the revitalized steel industry will remain dormant again pending the availabilty of iron ore through mining. |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by bisiki2: 11:22am On Jan 09, 2017 |
vodutive: Better from you this time. This is how you present an argument in a civil way. |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:24am On Jan 09, 2017 |
Emekamex: One problem at a time. The 1st thing is to say, we are going to produce our own steel, we are going to build our infrastructure using our own steel, we are going to assemble busses using Nigerian steel. We are going to put our people to work. Trump is there shouting American jobs American jobs, you think he is a fool? Even he knows the dangers of exporting your factories and jobs to Mexico/China. 3 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Flaghouse1: 11:26am On Jan 09, 2017 |
omohayek: Omohayek, I quite agree with your postulation above,in reality most of the developed economy we try to emulate today are not really making much from steel production,but in technology,drug development ,software development ,manpower development et al.we are no longer in. The industrial age but technological age where we think outside the box to acheive excellence. The government realy needs to come up with radical solutions to improving power,roads,rail in the country to be able to increase our GDP without these there. Will be no small scale industries or enterprise developing in order to add to GBP and improve lives of the common man like me and you.Continous injection of scarce resources into the Ajaokuta project without a corresponding northward improvement in return will really be like putting water in a basket. But our leaders are well read and travel outside why can't they implement some of the lofty projects ,ideas they see when they travel abroad 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:27am On Jan 09, 2017 |
bisiki2: I don't reckon with most people on Nairaland (our educational system being what it is over the last few decades) and if you look at my post history I rarely insult, the guy is obviously a cut above the rest and clearly well educated but his reasoning is so infuriating for someone supposedly well educated. It is us the so called well educated that have failed this country and it is precisely with that sort of thinking that fails to see the bigger picture.. 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by AZeD1(m): 11:28am On Jan 09, 2017 |
. vodutive:The real problem with Nigeria is thinking Nigerians thinking we can produce everything. As of today, the Ajaokuta steel complex that has never worked is 30 years outdated. Spending money on it is stupid. The world is interconnected so anyone making reference to the industrial Revolution is simply out of date. Let's say we want to compete with the Chinese on steel and in return they decide not to buy our Oil, what happens then? The year is 2017 not 1930. 2 Likes 1 Share |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Emekamex(m): 11:36am On Jan 09, 2017 |
vodutive: You still dont get it, we cant produce steel if we are not presently mining iron ore. It is just like building a refinery without mining crude oil first. The basic steps in industrilization should be followed. Govt should invest more in raw materials and then allow the private sector to convert them to finished products. |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:38am On Jan 09, 2017 |
AZeD1: You need to understand the difference between how a govt makes decisions and how a business makes decisions. A business makes decisions solely of the basis of costs and profit but a government makes decisions based on the greater good. The jobs it will create, capacity building, social welfare etc I can go on and on. In any advanced country, the number 1 priority is jobs, nit just jobs for jobs sake but quality jobs and until Nigerian understand that and protect local jobs in every policy decidion they make we will never make way as a country. Forget GDP, forget currency, JOBS is the most important metric in any economy. People without jobs cannot pay taxes or purchase goods from other industries and the better the quality of jobs the more your people have to spend. Successful countries know this and protect local jobs fiercly!!!! |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 11:39am On Jan 09, 2017 |
Emekamex: you are rehashing the same ol thing and my answer remains the same. The most important thing is to decide the journey, once youve decided your destination, then the next question is how do I get there? But you have to decide your destination first. |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by intruder15(m): 11:50am On Jan 09, 2017 |
reading through comments here makes me wonder what the future holds for our youths. the proposed leaders of tomorrow. how can we move Nigeria forward when we reason this way? now I see why it's easy for politicians to woo us into recycling them in power. . we celebrate China to be among the world fastest developing country yet we fail to see the reason why. which country can be great without industrialisation? . every year, graduates emerge from metallurgical and materials engineering discipline without jobs to suit their profession yet we are here playing politics with a steel factory that will better the life of a nation if functional. . if graduates can reason like this then it means we have no future. . . England, USA, Germany and Co knows they can get steel cheaper from China yet they all have steel industries and foundries in their respective company. they are not foolish... . the difference between the whites and the blacks is that they think about the future while we think about the moment. . d most irritating was someone questioning the value of steel in Nigeria. saying facebook and google are making money than steel companies. I weep for NIGERIA. . Industrialisation cannot be achieved when u depend on another country for something that is in ur back yard. our problem has always been management and corruption. ... God help us Al. 4 Likes |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by AZeD1(m): 11:56am On Jan 09, 2017 |
vodutive:The money quoted here cannot get Ajaokuta to a working state, so it's scarce resources down the drain. The government should give Ajaokuta out for free to the original builders. 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by SIRTee15: 12:01pm On Jan 09, 2017 |
omohayek:Ok, the whole world should close down their steel factories and turn to China to buy steel....... Since it's cheaper to buy from China..... We can as well shut down our manufacturing base in naija and turn to China Since it's cheaper to produce there...... Ajaokuta or not, Nigeria must produce steel.... It's the bedrock of any industrialization blueprint...... |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 12:20pm On Jan 09, 2017 |
Instead of letting private investors take over by encouraging them with good policies these ones wants to waste the scare finance in this country?? God deliver us from these criminals 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 12:33pm On Jan 09, 2017 |
omohayek:so as fg left the already built plant its a very good idea right? U see u are not wise enough y didn't China and other developed countries stop produces steel and start importing it since its cheap Its people like u that made Nigeria like this !!! U don't think about the employment opportunities it would provide !!! U don't think about the money it would generate !! U don't think about how it would give us fx all u think about is tnonsense and note that there is no country that develop while depending on importation !!!! U need to produce at least 60% of what u consume #fact 1 Like |
Re: FG Allocates 4.3bn For Revival Of Ajaokuta Steel Company by Nobody: 12:37pm On Jan 09, 2017 |
intruder15:My brother Quite unfortunate. Imagine people requesting government to invest into better roads, rails, infracstructure etc yet they are advocating against steel. They failed to realize that 80% of whatever investment government put into rail would be shipped to Ukraine or china or wherever the buikding steel came from. They ignorantly look at steel as a business comodity instead of industrial revolution comodity. I dont think they are playing politics with their position, it is a simple reflection of what is being thought in most bussiness schools all around. The same ideas that is turning US into an import nation with $19 trillion debt from $5 trillion less than 10 years ago. A country that is loosing high profile jobs in drift but churning out millions of restaurants jobs. They fail to explain why US debt profile is growing despite boom in profit of comoanies like Apple, facebook, google and the rest of tech jobs. They fail to realise that California despite hosting all these tech companies is the most indebted state in US. They want Nigeria to start creating our own google and facebook because fixation with steel is stucking in the 1930s... They forgot that 1930s was when companies like ford, general motors, Boeing, Mercedes etc experience their boom. They forgot that 1930s was when cities like Detroit and the likes were built. They forgot that our society and infracstructures are still stucked in the 1700s... Bad roads and poor electricity. We cant even feed ourselves. Companies like facebook are social medias... I dont think we deserve fun or socializing when we are suppose to be building our nation out of 1700s. Anybody with a logical mind should know the fate of companies like Apple, Facebook, google etc if they were indigenous Nigeria company...we cant even launch satelites, infact the ones they helped us with had gone missing...we have Nairaland sha... We like deceiving ourselves...we are comparing ourselves with country where departments in tiny universities have launches multiple satelites. I want to admonish Mr AIs and bio tech... That we cant jump from 1700s to 2000s just like that... We have to follow same route as others before us china india brazil singapore name it... Industrial and agric revolution first before tech revolution... 3 Likes |
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