President Muhammadu Buhari has said that the federal government has committed about 400 million dollars to bring back to life the moribund Iron and Steel company in Ajaokuta Kogi state.
He said the federal government has rescued the steel company from total collapse and it is ready for concession with prospective investors to complete the efforts so far made for the company to bounce back.
President Buhari who arrived at Okene at 10:30 am on Thursday added that the rehabilitation of the steel company will make Kogi state become Nigeria’s Iron power state stressing that the company will create over 500,000 jobs at full capacity utilisation.
He stated that with the presence of the Obajana cement company, Railway station at Itakpe and the revived Ajaokuta steel company, the state is gradually being turned into an industrial hub centre in the country as progress is being made on the ongoing KKK gas plant embarked upon by his administration saying that when completed it will turn the economy of the nation around for good.
Meanwhile,No fewer than four persons have been reportedly killed when an explosion rocked the palace of the paramount ruler of Ebiraland The Ohinoyi Ado Ibrahim.
The explosion was said to have occurred around 9 am on Thursday.no one has been able to identify the actual cause of the explosion. DAILY TRUST