FG to auction Ajaokuta Steel Company

The Federal Government will auction the Ajaokuta Steel Company, Kayode Fayemi, minister of Mines and Steel Development, has disclosed said  during a facility tour of the mill.

Fayemi explained that the FG would seek for the mill foreign investments that will be transparent and through a competitive bidding.

Olayinka Oyebode, special assistant to Minister of Mines and Steel Development, said the Ajaokuta steel company would boost the economy when operational.

More so, Fayemi urged local steel manufacturers to discourage the use of expatriates by training and empowering young graduates.

“It is important that you come up with training schemes for young graduates and artisans.

As you train more of these young indigenous engineers and artisans and absorb them, you will also gradually reduce the number of your expatriates, and this will help us as a country and also help your business,” he said.