FG paid $500m to terminate Ajaokuta Steel contract - Minister – Newstrends
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FG paid $500m to terminate Ajaokuta Steel contract – Minister

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FG paid $500m to terminate Ajaokuta Steel contract – Minister

The Minister of Steel Development, Alhaji Shuaib Abubakar on Thursday disclosed that the Federal Government paid the sum of  $500 in order to terminate the concession agreement on Ajaokuta Steel Company.

The minister, who disclosed this during an interactive session with the House of Representatives Committee on Steel Development in Abuja said the government was working assiduously to find a solution to the Ajaokuta Steel imbroglio.

He said, “It is a problem that has persisted for 45 years. We have gone to China to come and invest in the steel company including setting up a new plant and we have gone to seek financing”.

According to him, the challenges had changed as new technology had come up and there had been innovations and there had been discussions around it but it had not been finalised.

“Funding is a big challenge to the Ministry of Steel Development. Steel industry will be the bed rock of industrialization if we have proper funding.

“I am still at a stage where to find a solution to the Ajaokuta Steel Company.

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On the $2 billion being requested to revive the moribund steel company, the minister said it was just a preliminary calculation, adding that the figure might not be up to that.

According to him, this is an estimate that may not be accurate at the last decimal point. It is just a process that will allow us to arrive at the right destination.

“The president has asked me to find a solution to Ajaokuta, so the figure will change pending the outcome of the technical audit.

“It’s clear to Nigeria that for this to happen we need funding and all the help we can get from the two chambers, this is why we need. I need all your support to make this a reality.”

Abubakar also disclosed that the nation spends $8 billion annually to import steel into the country, saying that it is in the best interest of Nigeria for the Ajaokuta Steel Company to work.

He noted that the revival of Ajaokuta Steel will cost money, and we have written a 10 year document for the revival. We will present the document to Mr President.

He said that it was in his own interest for Ajaokuta Steel to work, adding that he is from Kogi State and must push for such interest

Chairman, House Committee on Steel Development, Hon. Zainab Gimba, the urged the ministry to provide it with all the procurement process and other responses demanded by the committee

The committee said that Ajaokuta had remained a nightmare to many, adding that now that the minister had accepted to superintend over it, Nigeria expected more from him.

FG paid $500m to terminate Ajaokuta Steel contract – Minister

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Obey court order on Rivers LG poll, PDP tells Fubara

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Rivers State Governor, Sir Siminalayi Fubara

Obey court order on Rivers LG poll, PDP tells Fubara

The Peoples Democratic Party (PDP) in Rivers State has warned the state governor, Siminialayi Fubara, against conducting a local government election on Saturday October 5.

It said holding the election would be disobeying the Federal High Court judgement and an invitation to trouble.

The PDP state chairman, Chukwuemeka Aaron, said participating in or conducting the election contrary to the court’s judgment would be unlawful.

He urged the citizens to disregard any announcements calling for local government elections on October 5, citing a Federal High Court judgment that halted the poll.

Aaron stressed the party’s commitment to upholding the rule of law, adding that the RSIEC and the State government could not choose which court orders to obey or ignore.

He called on Rivers State governor, a PDP member, to comply fully with the court’s judgment.

He said, “The PDP, having reviewed all the cases relating to the local government elections, concludes as follows: we cannot support or promote lawlessness, or impunity in any form whatsoever even though we are the ruling party in Rivers State.

“The proper court judgment must be obeyed as we cannot choose which order of the court to obey and not to obey.

“We, therefore call on the Rivers State governor who incidentally is a member of our great party the PDP to obey and comply wholly and strictly with the judgment of the Federal High Court in line with our character and ethics of our party, the PDP and suspend the planned October 5 local government elections in Rivers State.”

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Aaron commended the Independent National Electoral Commission (INEC) for standing by the truth and complying with the court’s judgment.

He said INEC had clarified that it did not release the Voters Register to the Rivers State Independent Electoral Commission (RSIEC), a critical requirement for the elections.

While commending the Nigerian Police for standing by the Federal High Court judgment, Aaron, however, cautioned that announcing election results despite the suspension would be considered an invitation to violence.

He said, “We also call on our members and indeed the law-abiding residents of Rivers State to defend the rule of law ensuring full compliance with the judgment from the Federal High Court.

“Nobody should participate in or allow the conduct of any local government elections in deviance from the judgement of the Federal High Court.

“We want to thank the INEC for standing on the part of the truth, clearing the air on the non-release of Voters Register to RSIEC, and for complying with the Federal High Court judgment.

“We also commend the Nigerian Police for standing up to the Federal High judgment being the latest on the Rivers State Local government elections.

“We want to caution that any attempt to announce any results whatsoever will be an invitation to violence and will be properly revisited as no election will be held in Rivers State on the 5th of October as ordered by the court.

“We enjoin the general public to disregard any announcements calling for the October 5 local government elections, for the same is a call for crisis and which will not be in the interest of Rivers people.”

Obey court order on Rivers LG poll, PDP tells Fubara

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Nigeria gets new $500m World Bank loan

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Nigeria gets new $500m World Bank loan

The World Bank has approved a 500 million dollar loan to support the Sustainable Power and Irrigation for Nigeria, SPIN, project aimed at reducing climate-induced challenges.

Chakib Jenane, World Bank’s Regional Director, Sustainable Infrastructure Development for West and Central Africa, announced this during a visit to Water Resources and Sanitation Minister in Abuja on Thursday.

Mr Jenane said that the SPIN project was approved during the World Bank’s Board meeting on Sept. 26, adding that it was scheduled to begin in January 2025.

According to him, the project is designed to address climate-related issues, including floods and droughts, through enhanced dam safety, improved water resource management, and expanded irrigation services.

The World Bank director said that the project would benefit approximately 950,000 people, including farmers and livestock breeders.

Jenane emphasised the need for Nigeria to continue preparations to meet the remaining conditions in order for the project to be effective by the Jan. 2025 target date.

The World Bank team also provided an update on the Transforming Irrigation Management in Nigeria (TRIMING) project, which is nearing completion.

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The team also gave an update on the Sustainable Urban and Rural Water Supply, Sanitation, and Hygiene (SURWASH) programme, and stressed the importance of involving more states in the initiative.

Jenane encouraged the ministry to explore the establishment of a National WASH Fund, a key objective under the SURWASH programme’s Disbursement Linked Indicator (DLI) 1.

The Minister, Prof. Joseph Utsev, expressed his appreciation to the bank for its continued support of Nigeria’s development, particularly in sustainable infrastructure and water resource management.

He assured the delegation that the Nigerian government would provide the necessary counterpart funding support to ensure the successful implementation of all World Bank-backed projects.

Utsev also emphasised the importance of completing the TRIMING Project on schedule, and reaffirmed the ministry’s commitment to meeting the project’s Jan. 2025 deadline.

Also speaking, Dr Bello Goronyo, the Minister of State for Water Resources and Sanitation, thanked the bank for its approval of the SPIN project.

Goronyo also reiterated the ministry’s commitment to ensuring success of the project through collaborative efforts.

SPIN also mulls developing a master plan for hydropower generation, with a focus on boosting energy production through public-private partnerships.

 

Nigeria gets new $500m World Bank loan
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Bauchi senator denies sponsoring bandits, says Gov Mohammed’s accusation baseless

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Senator Shehu Buba Umar

Bauchi senator denies sponsoring bandits, says Gov Mohammed’s accusation baseless

Senator Shehu Buba (Bauchi South Senatorial District) has reacted to an allegation of supporting banditry by Governor Bala Mohammed, describing it as unfounded, baseless and malicious.

Buba, who is the Chairman, Senate Committee on National Security and Intelligence, said the governor’s statements were unfounded, adding that he will not be intimidated by such claims.

He made this known in a press released by his Legislative Assistant, Hassan Gajin Duguri.

The Senator also described the governor’s petition to President Bola Tinubu as laughable and regrettable.

He said he was only responding to the baseless accusation of banditry to set the record straight to debunk the falsehood.

He condemned the Governor’s consistent insult of President Bola Ahmed Tinubu saying his utterances were meant to incite citizens against the Federal Government.

“As the Senator representing Bauchi South in the National Assembly, Senator Buba has endured Governor Bala Mohammed’s arrogance, excesses, and unbecoming behavior, which includes unfounded fabrications stemming from the senator’s defense of the President against repeated disparaging remarks,” the statement said.

“Governor Mohammed not only orchestrated the withdrawal of Senator Buba’s chieftaincy title but also employed political proxies to undermine his standing within the state. Such underhanded tactics reveal the governor’s desperation, and the senator refuses to be intimidated.”

The statement expressed no surprise at Governor Bala’s latest actions, which allegedly involve fabricating falsehoods in a petition to the President.

According to the governor’s letter, he claims that one Abubakar Idris, a suspected bandit, and Zainab Aliyu Gado were registered to perform the pilgrimage through a supposed Senior Legislative Aide to Senator Shehu Buba, named Yahaya Ibrahim.

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In response, the aide clarified: “Senator Buba does not have a Senior Legislative Aide by the name Yahaya Ibrahim. While it is the responsibility of security services to conduct due diligence on potential Hajj pilgrims, Senator Buba sponsors numerous individuals for the pilgrimage each year, based on recommendations from elders, community leaders, and religious figures.”

Additionally, the aide stated, “We are aware that Hajiya Zainab Ali was thoroughly screened and permitted to perform Hajj, whereas Abubakar Idris was arrested for further investigation without any interference from the senator’s office.”

The statement further noted that “As Chairman of a crucial Senate committee, Senator Buba has actively championed initiatives aimed at counter-insurgency and anti-banditry, which are beginning to yield positive results.”

Highlighting the governor’s ongoing attacks, the statement remarked, “Governor Bala Mohammed has waged a political war against Senator Buba and others who dare to question his leadership style and arrogance.”

The statement recounted, “In 2019, when Bala Mohammed faced political challenges, Senator Buba personally introduced him to then APC Leader, Asiwaju Bola Tinubu, through Mallam Nuhu Ribadu. However, just months later, the same governor turned against President Muhammadu Buhari, Senator Tinubu, and the APC at a PDP campaign rally in Bayelsa State, showcasing his ungrateful and duplicitous nature.

“Senator Buba remains resolute in denying these baseless allegations and reaffirmed his commitment to serving his constituents and ensuring the security of the nation.
“He is known for positively impacting the well-being of his constituency by providing scholarships, facilitating skills acquisition, and empowering youth and women.
“Additionally, he is recognized for his contributions to infrastructure development, poverty reduction, and the provision of social amenities and palliatives to mitigate the effects of petrol subsidy removal, among other commendable initiatives.

“Regardless of the Governor’s sinister intentions, he cannot halt the winds of change gathering strength in Bauchi. His days of unbecoming and unethical behaviours are numbered. The momentum for change has already begun, and no amount of blackmail will deter or intimidate my boss,” the statement concluded.

 

Bauchi senator denies sponsoring bandits, says Gov Mohammed’s accusation baseless

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