Idle Ajaokuta Steel Plant Drains Over ₦1 Billion Yearly

Idle Ajaokuta Steel Plant Drains Over ₦1 Billion Yearly

 — NMDC DG

Professor Linus Asuquo, Director General of the National Metallurgical Development Centre, has revealed that the dormant Ajaokuta Steel Company Limited costs Nigeria more than ₦1 billion each year.

According to him, the expenditure covers pensions, salaries, taxes, and administrative expenses, despite the facility remaining non operational. 

He stressed the urgent need to address the situation to prevent further financial waste