omohayek:


You write as if she unilaterally signed off on that money by herself. Shouldn't you place the blame where it ought to lie, with GEJ? Besides, how do you know that Dasukigate wouldn't still had happened if she'd allowed more money to be wasted on Ajaokuta?

I repeat, whatever the failings of the last government, Okonjo-Iweala has rendered tremendous service to Nigeria, not just in this Ajaokuta business, but in getting the Paris Club to cancel $18 billion of Nigeria's debts. Hate GEJ's government all you want - I don't care - but give Okonjo-Iweala her proper due instead of uncritically swallowing hit-pieces by economic illiterates.

“It is not enough that Mr President should be briefed by anybody. I advise him to pay a visit personally with some of his cabinet members so that when he is taking a decision, it is based on facts rather than waiting to be briefed”, Sanusi maintained.

BraniacX:
typical case of sentiments overcoming reason, try and sell.ajaokuta to any modern steel maker so that you'll appreciate how little it is worth, ajaokuta's design and methods are synonymous with the 70's when it was designed so revamping it and running it won't and can't be cost productive, apart from the bragging rights of having locally produced steel, the whole enterprise will be running at a loss eventually. a daft sentimental idiot comes here rubbishing a well made decision and ignorant(es) like many of you are thinking with your asses out loud all in the bid to rubbish NOI when we should be trying to woo modern and established steel companies to come and set up foundaries in Nigeria but wait! few or no foreign companies want to invest in buhari's neo-nationalistic Nigeria anymore

ScotsReferendum:


And you believe

Do yourself a favour

Port quickly to APC its your right.



Signed

Scots Referendum

United Nations Referendum

989900:


And you know all these, how?

BraniacX:


there's this Indian steel giant whose name I've forgotten who made this particular assessment on ajaokuta some years ago same as mettalurg a Russian steel giant I think and this was when Nigeria was thinking of revamping ajaokuta and aladja, I read it in a paper back then so that's how I know. the recommendation back then was that we build new modern cost effective steel foundaries in a government/private sector partnership and this was what I think the previous admin was planning to do, I think this current admin is being dishonest and simply wants to rubbish NOI & GEJ by any means possible without doing or disregarding previously done feasibility studies

BraniacX:
typical case of sentiments overcoming reason, try and sell.ajaokuta to any modern steel maker so that you'll appreciate how little it is worth, ajaokuta's design and methods are synonymous with the 70's when it was designed so revamping it and running it won't and can't be cost productive, apart from the bragging rights of having locally produced steel, the whole enterprise will be running at a loss eventually. a daft sentimental idiot comes here rubbishing a well made decision and ignorant(es) like many of you are thinking with your asses out loud all in the bid to rubbish NOI when we should be trying to woo modern and established steel companies to come and set up foundaries in Nigeria but wait! few or no foreign companies want to invest in buhari's neo-nationalistic Nigeria anymore

Wallie:


Care expatiate? Based on what I've found so far, they seem to be using an up-to-date method.

Historically the Bessemer process was a major advancement in the production of economical steel, but it has now been entirely replaced by other processes such as the basic oxygen furnace.
https://en.wikipedia.org/wiki/Steel_mill

The chosen Technology for Steel Production is the time tested Blast-Furnace – Basic Oxygen Furnace route for Steel Production. http://www.ajaokutasteel.com/site/pagef.php?cnt=Company%20Overview

I have very little doubt that the cost of production at Ajaokuta will be a lot higher than China imports. But whether we like it or not, sooner or later, we will have to start manufacturing to keep more of our earnings. Every time we buy imported products we end up subsidizing the workers of the economies that we buy the products from. Free trade with western countries do not benefit us because we have nothing to trade. We are just a dumping ground for every country that manufactures! Here’s the kicker, after paying for imported products with our earnings, those countries will then turn around to loan us some of the money we paid them!

To resolve the cost issue, we can simply limit the import of steel and/or increase the tariffs so that our locally produced ones can compete (even though that will mean that the price of steel will increase, at least, momentarily). Simple. Other western countries do the same thing. Take a look at the map below. Can you give me any rational reason as to why the countries in Africa are the least protected economies?

sonnie10:


Now you have shown that you know little about automation. No one is saying that Ajekuta can not be revamped to produced but the point is, who will buy at the price the steel will be produced? Again, you pointed out the size of administrative building and I ask, at what expense? The production capacity of ajekuta can not sustain those number of offices and homes you mentioned in today's competitive market. Every company in the world is cutting down on numbers of employee by using more efficient means of production. The set up of that facility is not economically viable. In line with international best practices, it would be suicidal to attempt to produce with such obselate equipment/ facility. Which market are you going to sell the expensive steel? Not anywhere on earth because China and Russia steel are too cheap to compete with.

30 years ago, the set up at ajekuta would have been profitable but not in 2016.

CioAngels:
With all your said education, i wonder how you got to the world bank. What am i saying, nigeria is a country were degrees are bought. I can now see why ngozi iweala could not answer national assemby questions. What a shame, becos many of us looked up to you to sanitise nigeria knowing where you came from, world bank.

BraniacX:


I don't.disagree with you pertaining to our need to have our steel locally produced and am no expert on this topic but what I read when I read it said ajaokuta wasn't at the same level in terms of machinery and cost effectiveness as modern steel foundaries, what'll be the point of producing expensive steel in Nigeria if steel consumers prefer imported steel because of cheaper price and or better quality? the assertion back then was that the cost of bringing ajaokuta and aladja to modern standards was more than the cost of building brand new steel foundaries

SIRTee15:


Nobody is talking of export here......
The focus is import substitution......
We tried it with cement production and we are successful. Today, Nigeria is self sufficient in cement production, we no longer import.
As at today, the price of everything in Nigeria is going up, yet that of cement is coming down.
We can achieve same success with steel....
Either with ajaokuta or another industrial project.
Look here, unless we start producing steel and fabricating various components from it, we are a long way off from any meaningful industrialization.
Do you know we are the only emerging economy that does not produce steel.
Do you know countries like Pakistan, egypt, vietnam, ukraine, south africa, mexico produce steel.
U guys should stop making it look like its only china and russia that produce steel.
We can do it, all it takes is strong political will, just like we did it for cement.

melvinjames:
Buhari's democracy:
Arrest PDP publicity sec
Arraign former PDP chairman
Rubbish the brilliant NOI
Do all of this on the same day.


#TheOneChanceBus.

BraniacX:
typical case of sentiments overcoming reason, try and sell.ajaokuta to any modern steel maker so that you'll appreciate how little it is worth, ajaokuta's design and methods are synonymous with the 70's when it was designed so revamping it and running it won't and can't be cost productive, apart from the bragging rights of having locally produced steel, the whole enterprise will be running at a loss eventually. a daft sentimental idiot comes here rubbishing a well made decision and ignorant(es) like many of you are thinking with your asses out loud all in the bid to rubbish NOI when we should be trying to woo modern and established steel companies to come and set up foundaries in Nigeria but wait! few or no foreign companies want to invest in buhari's neo-nationalistic Nigeria anymore

Eluwilussit:


You think nairalanders get brain? Most of them can't reason independently. If you ask some of them for proof, they usually direct you to a post by TonyeBarcanista.

The same imf they are condemning, the president of Nigeria received its president today. If imf and iweala didn't mean well, what's our very own PMB doing with its head?

We need proof that iweala and imf sabotaged ajaokuta steel project. Too much talk talk full naija.

sharpchap:
NOI's report is just being diplomatic. the equipment in ajaokuta does not match the ore type. it is that simple. it has nothing to do with cost or degree of modernization. the type of iron ore present there is called pisolitic iron ore. the equipment there is for primary ore, so the equipment cannot process that ore. dem just dey use am chop money anyhow una come dey abuse the person wey take style expose dem. ajaokuta can never work with what is available there now. i dont think there is any primary ore in Nigeria. it was just the unbelievable stupidity of the ppl that started the construction, and the wickedness of subsequent administrations that discovered the mistake and perpetuated it in order to wack money.

BraniacX:


there's this Indian steel giant whose name I've forgotten who made this particular assessment on ajaokuta some years ago same as mettalurg a Russian steel giant I think and this was when Nigeria was thinking of revamping ajaokuta and aladja, I read it in a paper back then so that's how I know. the recommendation back then was that we build new modern cost effective steel foundaries in a government/private sector partnership and this was what I think the previous admin was planning to do, I think this current admin is being dishonest and simply wants to rubbish NOI & GEJ by any means possible without doing or disregarding previously done feasibility studies

sharpchap:
NOI's report is just being diplomatic. the equipment in ajaokuta does not match the ore type. it is that simple. it has nothing to do with cost or degree of modernization. the type of iron ore present there is called pisolitic iron ore. the equipment there is for primary ore, so the equipment cannot process that ore. dem just dey use am chop money anyhow una come dey abuse the person wey take style expose dem. ajaokuta can never work with what is available there now. i dont think there is any primary ore in Nigeria. it was just the unbelievable stupidity of the ppl that started the construction, and the wickedness of subsequent administrations that discovered the mistake and perpetuated it in order to wack money.

sonnie10 pa1693513:

The aim should not be to live in a fool's paradise. What you have proposed is a situation were through government policies, prices of locally produced commodities are manipulated to keep companies afloat. More like robbing Peter (local consumers) to pay Paul (big local companies). How do you suggest that an Iron steel that is sold ufor #800 a piece from China should be produced locally and through government policies and regulations, consumers would be forced to buy them for #1500?

You missed the point, this discussion was not about if local production of steel was possible but on whether is was a good idea to continue to waste more money on the current Ajeokuta steel facility. Four different experts have said it is not viable. So there is no need for Nigeria to cry over spilled milk. How do you fix a broken bottled? The consensus here is that the facility is outdated. A good question would have been, then what next?

The simple answer is that Nigeria should go back to the drawing board, they have to start from ground zero. Painful but true.

sonnie10:


The aim should not be to live in a fool's paradise. What you have proposed is a situation were through government policies, prices of locally produced commodities are manipulated to keep companies afloat. More like robbing Peter (local consumers) to pay Paul (big local companies). How do you suggest that an Iron steel that is sold for #800 a piece from China should be produced locally and through government policies and regulations, consumers would be forced to buy them for #1500?

You missed the point, this discussion was not about if local production of steel was possible but on whether is was a good idea to continue to waste more money on the current Ajeokuta steel facility. Four different experts have said it is not viable. So there is no need for Nigeria to cry over spilled milk. How do you fix a broken bottled? The consensus here is that the facility is outdated. A good question would have been, then what next?

The simple answer is that Nigeria should go back to the drawing board, they have to start from ground zero. Painful but true.

Intendy:
We are coming for this puff-puff