urahara:


I'm very sure when or if the plant becomes operational , steel importation will be banned.

grandstar:


Imported steel is bound to be far cheaper than the locally made one. This will place local users of steel at an uncompetitive position.. It just isn't fair.

There's a glut in steel on the world market

urahara:



Normal na.

But if Chinese steel is so cheap , how does POSCO cope ? Does South Korea ban steel imports too ?

Timekeeper:
To all haters:


AS you take hate this guy for doing notin wrong, naso them to hate u too ooo.
What's the big deal in supporting apc and buhari, yet some people gave a bounty to catch him and beat him.. Wtf are you guys mad?
Everyone get their choice, u don't threaten someone bcox of his choice of person.

If you hate all bcox he support buhari, u will get such hate in ur life too.. Some people just insult the guy for doing notin wrong...
It's unfair


Back to the topic

If Ajaokuta steel complete by 2022 or so, make nairaland wind up... Seun take note.

Oya , make we sing for this guys

Our role Model: Igbolabi figbo foyin

Egbami, Awon omo naija fe f’idi pami, (won fe fi idi pami)
Eesss control the crowd, control the crown
Marlians come forward, the rest Bleep off
O yeee
Yo Rexxie! on this one
Verse 1
Eeee egbami, Awon omo naija won fe fi idi pami (won fe fi idi pami)
Nigbami ti’n ba shi Insta (IG) idi ma ni (idi ma ni)
Idi araba, idi oro, idi abajo, idi arere, Idi ganlebe, idimu
Gbe’di jor t’ani idi ofo (t’ani idi ofo)
Ah! E ni sun
Ma lo te idi gbabe nipple, (gbabe nipple)
Ye oh baby, ma’sa gbori duro yo’di fun (yo’di fun)
Won tin settle e
Abu Abel ti settle e, (settle e)
Samuel Larry ti settle e, (settle e)
Baddosneh ti settle e (settle e)
Inside life, ninu aye rayierayie, (aye rayie)
Aye tun ya to s’aye
K’Oloun ma je ka r’ija aye, (ka r’ija aye)
Ninu aye, aye tun je’ju aye
Shey e r’oju aye, mo r’aye mo sa fu’aye

grandstar:


I don't know. There was a time south Korea was exporting massive amounts of steel to China.

simiife:



AMEN,they are all hypocrite

urahara:



Normal na.

But if Chinese steel is so cheap , how does POSCO cope ? Does South Korea ban steel imports too ?

LyfeJennings:
Some people are about to make some real good money cos that Ajaokuta Steel won't never ever be completed[/color]. Been hearing this thing [color=#000099]since I was a kid and still hearing. I swear make I die if that place is completed. That project has gulped over 5b USD. If not more for the past 30ywars

omohayek:

POSCO first tried to cope by diversifying away from steelmaking into unrelated businesses like trading and energy, but that strategy didn't work. Now the company is moving upmarket by concentrating on specialized types of steel for more demanding customers like carmakers; since POSCO can't beat the Chinese in more mainstream varieties of steel, it's also decided to team up with them, by tying up with companies like HBIS in joint ventures.

https://www.just-auto.com/news/posco-joins-forces-with-chinas-hbis-in-high-end-auto-steel_id192570.aspx

All the cheerleaders for Ajaokuta on here are utterly deluded, ignorant of both economic realities and the project's 40+ years of utter failure. As Ajaokuta was based on outmoded Soviet technology, it was already obsolete at the time it was supposed to be handed over in 1982; is it now, when even the most modern Russian designs can't even dream of competing with China, that Ajaokuta is suddenly supposed to become a self-financing production wonder?

The most senseless thing about all of this is that steel isn't even a high-margin business. People with sense would realize that the future lies with more knowledge-intensive fields like software, machine-learning, biotechnology, etc., and that all the money being poured into useless white elephants like Ajaokuta and the refineries that are perpetually in "turn around maintenance" would be far better spent investing in higher-quality universal education for Nigeria's rapidly expanding youthful population (and on family planning for their overly fecund parents). But that would be hard work requiring a long-term effort, and with no new shiny plants or buildings for illiterates to gawk at, so neither the ignorant Nigerian masses nor their equally ignorant political leaders take an interest - not even when the advice is coming from someone like Bill Gates!

opportunes:

https://www.dailytrust.com.ng/ajaokuta-steel-to-gulp-1-5bn-gets-2022-completion-date.html

urahara:


Then maybe the China dumping of steel is not as bad as we thought.

urahara:


They should just sell it !!!!

If at the end of the day it becomes operational , I know for sure it will simply be a loss making enterptise as with all other things Nigeria govt owned.

omohayek:

That is actually the biggest paradox about the excitement over this announcement, bigger even than the failure to understand how much has already been wasted on Ajaokuta over the decades. Why on earth would any sane Nigerian expect a government which can't even maintain basic roads - to the extent that a private actor like Dangote is now doing the FG's job for it in Apapa - to be able to manage a steel plant, even the most efficient and modern one? Don't we all know by now what happens when Nigerians get their hands on a parastatal, how they staff it with incompetent "federal character" appointees who in turn pull in their relatives and cronies to sleep on the job when they aren't asking for bribes, embezzling funds and selling off equipment? It's as if Nigerians think Ajaokuta would be staffed with a special new breed of Nigerian civil servant entirely, rather than the same lazy, crooked, tribalistic, incompetent deadweights they see in every government office across the land.

Blindersoff:
[s][/s]

Already installed equipment was being tested then as part of the work assessment while plans for completion were in top gear.

The commitments by Russia and Nexim have already been put in writing and endorsed so the next stage is work completion.

This one is 100% reality much like most of Buharis projects unlike one Òtuòke drunkard we know and one Papa deceiving pikin party we used to know

omohayek:

That is actually the biggest paradox about the excitement over this announcement, bigger even than the failure to understand how much has already been wasted on Ajaokuta over the decades. Why on earth would any sane Nigerian expect a government which can't even maintain basic roads - to the extent that a private actor like Dangote is now doing the FG's job for it in Apapa - to be able to manage a steel plant, even the most efficient and modern one? Don't we all know by now what happens when Nigerians get their hands on a parastatal, how they staff it with incompetent "federal character" appointees who in turn pull in their relatives and cronies to sleep on the job when they aren't asking for bribes, embezzling funds and selling off equipment? It's as if Nigerians think Ajaokuta would be staffed with a special new breed of Nigerian civil servant entirely, rather than the same lazy, crooked, tribalistic, incompetent deadweights they see in every government office across the land.

Blindersoff:
[s][/s]

Already installed equipment was being tested then as part of the work assessment while plans for completion were in top gear.

The commitments by Russia and Nexim have already been put in writing and endorsed so the next stage is work completion.

This one is 100% reality much like most of Buharis projects unlike one Òtuòke drunkard we know and one Papa deceiving pikin party we used to know

lexy2014:



Dude, where in d article did u see this claim that u made that "The commitments by Russia and Nexim have already been put in writing and endorsed so the next stage is work completion". That's not true because d article says:


"Adegbite said the Federal Government was expected to sign a Memorandum of Understanding with Russia along with the two organizations"

Its talking about something that hasn't been done and u are claiming that it has been done. So u already sharing falsehood.

According to u:

"This one is 100% reality much like most of Buharis projects"

That is why I shared with d promises made by this administration to fix d refineries first in 2015 and 2016, then in 2017, then it shifted it to 2018 and finally to 2019. D refineries are still moribund. Does this not fall into d category of buharis projects?

lexy2014:




In addition, be informed that $1b was allocated for d completion of ajaokuta in 2018. If that is d case, y does d govt now need an additional $1.5b when Adegbite says ajaokuta is already 95-98% complete?

Successlane:


.. do you wish yourself evil?

…..you are still a kid

…… very very childish talk.

Okigwe:
2022? close to another campaign to scam Nigerians

Blindersoff:


Perhaps you think the equipment required by such a humongous project is the cost of the engine of your Toyota Camry .

Why not become their QS and give them a cheaper quote that would also ensure sustainability

Ustec:
OBJ made a lot of noise back then too,
I believe Baba will finally do something about it.
The problem back then was that all those money that were suppose to revived those companies are being embezzled.,
Yet they don't want to borrow to revived the companies.
Buhari is setting a good standard, whoever succeeds him should follow on in his path,else trouble awaits he/she,cos people are now much more enlightened and interested in what is going on in government,unlike before.

lexy2014:


since u say it is humongous, I was expecting u to do a breakdown. U don't have to be a QS b4 u question certain decisions. Pls read again:

$1b was allocated for completion of ajaokuta in 2018. That means, it is expected that d $1b allocated then should have completed ajaokuta irrespective of whatever equipment u are making reference to. And if d $1b wasn't enough for whatever reason, d cost of completion wouldn't amount to $1.5b which is higher than d initial $1b allocated for completion in 2018 taking into cognizance d fact that d minister says that ajaokuta is 95-98% complete. It means $1.5b is being allocated for d remaining 3-5% of d completion. Does that sound like a judicious use of funds? U don't have to be a rocket scientist to figure that it doesn't sound right except u just want to support anything as long as it is buhari

Blindersoff:


You clearly lack the commonest of sense. So since it is said to be at 95% completion means the 5% left uncompleted must cost a meager sum right? Have you even bothered to jumpstart the part of your brain that reasons right and allowed it to ask the right questions like

1) What is left undone in the steel plant?

2) What if an important upgrade was required after assessment which necessitated the addition 500m?

3) If at 95% completion $1.5b is required to finish the work, could it be possible that they left the most expensive parts as the last parts to be finished?

Use your head and stop thinking from the bottom of a bottle of gin like your Otuoke Hero