I never said Ajaokuta Steel rehabilitation is transferred to British firm – Minister Olamilekan Adegbite

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I never said Ajaokuta Steel rehabilitation is transferred to British firm – Minister Olamilekan Adegbite

Minister of Mines and Steel Development Arc Olamilekan Adegbite has stated that at no time did he say that the federal government was handing over Ajaokuta to a British firm for rehabilitation.

According to a statement signed by the Minister’s Special Adviser on Media, Ayodeji Adeyemi,
the minister clarified that a local Nigerian firm with a British partner had expressed interest in carrying out the technical audit for free with no preconditions.

He said the federal government had been in discussion with a Russian firm Messrs TPE (nominated by the Russian government) towards conducting the technical audit.

Media reports recently had it that during a ministerial briefing, the Minister pointed out that the war between Ukraine and Russia had caused a setback to the proposed plan to get over Ajaokuta rehabilitation in 2022 and that there were plans to give the audit job to a British firm.

The minister noted that it was difficult to move forward with the Russian firm due to international sanctions placed on Russia, which have also impacted Russian firms and businesses.

“Meanwhile, a local company in partnership with a British company has offered to execute the technical audit at no cost to Nigeria and with no preconditions. This was what I said at the media parley at the statehouse and not that Ajaokuta would be handed over to a British company for rehabilitation,” the minister clarified.

Adegbite explained that when the technical audit is completed, the result would be shared with all interested investors and potential partners interested in Ajaokuta Steel Plant resuscitation, which they would use to enter their submitted bids.

“To ensure that the entire process is transparent, a firm was appointed in 2018 as Transaction Advisor. This firm has been revalidated by the BPP (Bureau of Public Procurement) and will guide and ensure a transparent due process in the selection of the eventual firm for Ajaokuta Steel restoration.

“The T. A will carry out all financial, environmental and technical due process to establish the successful firm and the mode of engagement. The various bids would then be ranked by the transaction advisor according to merits,” he said.

Adegbite noted that the outcome of the transaction advisor’s work would be taken to the Federal Executive Council for a robust discussion and eventual decision.

I never said Ajaokuta Steel rehabilitation is transferred to British firm – Minister Olamilekan Adegbite

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