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FGN SEEKS N35B, PARTNERS BANKS, OTHERS TO RESTART AJAOKUTA LIGHT STEEL MILL
From Lateef Taiwo
The Federal Government of Nigeria (FGN) through the Ministry of Steel Development (MSD) is collaborating with Financial Institutions for the best financing options to re-start the light steel mill section of the Ajaokuta Steel Plant for production of iron rods.
Minister of Steel Development Prince Shuaibu Abubakar Audu disclosed this when he played host to the MD/CEO of Stanbic IBTC Bank, Wole Adeniyi at the ministry’s headquarters on Tuesday in Abuja, a statement from the ministry signed by Tine-Iulun M.A for the head of Press and Public Relations.
He noted that it has become imperative to seek funding of about N35 billion to enable it re-start the light mill section of the Ajaokuta Steel Plant in line with the present administration’s Renewed Hope agenda, adding that the ministry plans to revive Ajaokuta in phases in accordance with set timelines and benchmark.
He recalled that the ministry already had an existing agreement with the Federal Ministry of Works to be off-takers of the rods produced as well as with the Ministry of Defence to build a Military Complex in Ajaokuta, stressing that Ajaokuta portends a lot of opportunities by which a lot can be achieved.
Earlier, the Stanbic Bank boss who was represented by head, Industrials, Debola Seriki, while expressing the Banks willingness to partner with the ministry, urged it to provide more details for their consideration towards realising the project.
In the same vein, the Minister met with top Management of UBA and Voda Infrastructure Management Ltd with a view to ensuring that funds are raised for the immediate take off of the project in the spirit sustainable development of the steel sector.
AljazirahNigeria can report that over 40 years after the Ajaokuta project was flagged off to be the bedrock of Nigeria’s industrialisation, not a single sheet of steel has been produced because its completion and operationalisation has remained a mirage, even as it reportedly achieved over 95 per cent completion in the early 1980s, due to neglect by successive administrations.
The light mills were finally made to commence operation a few years back for fabrication and production iron rods, but this was not sustainable.
Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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Investigations by Nigerian Concord Newspaper reveal that the Executive Secretary of the Nigerian Shippers Council, Mr. Pius Akutah, has allegedly misappropriated public funds for a lavish lifestyle.
According to our findings, within months of assuming office, Akutah allegedly purchased a bulletproof SUV valued at approximately N850 million. In addition, he is reported to have acquired over twenty exotic SUVs for use as a convoy.
Akutah is also said to have acquired multiple high-value properties, including three in Abuja’s Maitama and Asokoro districts worth over N2 billion, and two in Lagos’ Banana Island valued at N1.8 billion. These acquisitions appear far beyond the scope of his official salary and allowances.
Further investigation suggests that Akutah may be using public funds to support political ambitions, including allegedly grooming militants across 23 local government areas in Benue State for a potential 2027 gubernatorial bid.
Staff of the Shippers Council reportedly claim that Akutah frequently accesses the council’s treasury without proper authorization. Some insiders have indicated that a petition will soon be filed with the EFCC, ICPC, and the Presidency to report his alleged misconduct.
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I am writing to felicitate with Your Excellency, Atku Abubakar, GCON, former Vice-President of Nigeria (Zege Mule u Tiv & Wazirin Adamawa)
on the occasion of your 79th birthday anniversary.
I join your teeming admirers globally in celebrating you on this special day, an adorable Statesman and my Boss.
I recall with nostalgia, how countless generations have benefited from your generosity, wealth of experience and benevolence including being my key benefactor even as a young lawyer for my professional success.
Your Excellency, may your special day be filled with grandeur befitting your illustrious career.
I wish you continued success, prosperity, and an unending stream of accolades.
It takes a remarkable kind of fortitude to remain active in public life well into one’s golden years. Your dedication and patriotism remain truly exceptional.
May you enjoy a day of reflection on your many years of fruitful service to humanity. It is my prayer that God Almighty grants you many more healthy, fruitful, and fulfilling years ahead, and continues to endow you with wisdom, strength, and the grace to keep contributing to our nation-building.
Happy Birthday, Your Excellency.
Michael Kaase Aondoakaa SAN.
Former Attorney General of the Federation and Minister of Justice
TAU reaffirms commitment to globally competitive learning
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