By Matthew Tabe
President Muhammadu Buhari has said that the All Progressives Congress (APC)-led federal government rescued the Ajaokuta Steel Complex from legal encumbrances with a whopping $400 million.
He also said the project, when finally concessioned, would provide over 500,000 estimated jobs and attract more than $1.6 billion annual income to the Nigerian economy.
Buhari who spoke Thursday during a one-day official visit to Okene, Kogi State, also said that Governor Yahaya Bello had performed creditably in his two terms as governor.
He said: “We are an administration that prides ourselves in the fulfillment of our electoral promises to the Nigerian people, at both national and sub-national levels.
“This is why I am glad that we have an impressive array of legacy projects through your own state government as proof of our stewardship of Kogi State. The APC administration has indelible footprints in Kogi State. Among the many projects executed by the Federal Government are; the Itakpe to Okene bypass, the Obajana to Kabba concrete road built by Dangote Industries Limited under our ‘roads for taxes initiate’ (Executive Order 7) and the Itakpe to Warri railway service, among others.
“I am very pleased to be here today to commission several projects executed by the administration of His Excellency, Governor Yahaya Bello.”
President Buhari also spoke on the determination of his administration to position Kogi state as an industrial hub as well as a solid mineral power base, stressing that the project stands to benefit the people of the State immensely.
He said the federal government had achieved the resolution of all legal entanglements that had bogged down the progress of the Ajaokuta Steel Complex.
“No other single project holds the key to unlocking this vast potential as much as the Ajaokuta Steel Complex which we inherited as a long moribund complex strangulating under a tangle of local and international commercial disputes.
“I am glad to report that as we begin to round off in office, we can genuinely say that our administration has rescued Ajaokuta from all legal disabilities and it is now ready for concessioning to a private investor with the right profiles to put it to work for Nigeria in general and Kogi State in particular.
“The process has cost this Federal Government over 400m US Dollars so far, but I consider it money well spent as we move closer to achieving our objective of transforming Kogi State into Nigeria’s iron and steel powerhouse.
“The benefits of getting Ajaokuta Steel Complex working again are numerous. It would provide over 500,000 estimated jobs and more than $1.6 billion in annual income to the Nigerian economy. Nigerians can rest assured that I remain committed to seeing this process to a logical conclusion before the end of my tenure in Office,” Buhari said.
He said Kogi state also stands to benefit in diverse ways when the 614 km (384 miles) AKK gas pipeline which traverses the State starts operations next year.
He commended Governor Bello “for rising up to the occasion in many sectors especially security. We are proud of him and I encourage the people of Kogi State to continue to support him and his team as they are working hard to ensure peace, security and development in the state.”