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FG Set To Sell Delta Steel Company

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Musa-Sada

The Minister of Mines and Steel Development, Mohammed Sada, Tuesday said that the Federal Government through the Assets Management Company of Nigeria (AMCON), has concluded plans to sell the Delta steel company to an automobile firm.

Sada, who stated this when he appeared before the senate committee on Power, Mines and Steel, to defend his ministry’s 2015 budget, said that though the ministry was not involved in the sale, it was in close partnership with AMCON, the government agency handling the sale.

He recalled that the company had been in the hands of a private investor, but was retrieved by AMCON. “Now AMCON is in the process of selling it and I am aware there are quite a number of people that have written letters of intent that they are interested. What interests us in the ministry is that those interested are people that are interested in automobile development.

“We believe in the system now that someone who has interest in developing a value chain around the company is showing interest in buying it. We have no role to play by the way, they are consulting us as experts in the industry and we have had several meetings with them to guide them.

“The last time I had a meeting with the MD of AMCON he assured me that in the next couple of weeks, they are going to have somebody they are discussing with a view to selling it over,” he said.

He said that all issues possible of causing confusion in future had been resolved.

According to Sada, the initial owner of the steel company had been given the opportunity, by AMCON, to pay back the loan but it was unable to do so until the grace period lapsed.

“There were no previous claims, Delta steel was a privately owned company, the company took loans from the local banks, and by Nigerian Law, AMCON was put in place to make sure that banks do not fail.

“So, AMCON bought over the loans of that company, they gave them a payment schedule which they failed so AMCON has no issue with anybody. Our concern is steel protection, Delta Steel Company still has the latest technology, whoever is buying the company can start working immediately,” he said.

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1 Comment

1 Comment

  1. moha babs

    February 24, 2015 at 11:05 pm

    Dats is their only problem selling government properties among themselfs nawa wo

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Metro News

Nigeria’s Communications Minister, Isa Pantami, Loses 13-year-old Daughter

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Nigeria's Communications Minister, Isa Pantami, Loses 13-year-old Daughter

Communications minister, Isa Pantami

Minister of Communications and Digital Economy, Isa Ali Pantami, has announced the loss of his 13-year-old daughter, Aishah Isa Ali.

The Minister took to his Twitter account on Monday night to announce this sad news.

Pantami stated that the funeral prayer for the deceased will be conducted in Abuja on Tuesday at Annur Masjeed, Wuse 2.

Also Read: Gunmen Evict NIDCOM Staff From Office On Minister’s Order

The post by the minister announcing the incident reads; “Inna lil Laahi wa inna ilaiHi Rajiun! My 13-year old daughter, Aishah Isa Ali (Amal) passed away just a moment ago.

“Due to some necessities, funeral prayer tomorrow at Annur Masjeed, Wuse 2, immediately after Zuhr prayer In sha Allah. May Allah forgive and be merciful to her.”

 

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

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Cult Violence: Wike Imposes Two-Week Curfew Around Okoro-Nu-Odu

Governor Wike

Governor Nyesom Wike of Rivers State has imposed a 24-hour total curfew for two weeks on some parts of Port-Harcourt, the state capital.

The Governor made this known during a broadcast on Sunday where he noted that the curfew begins from Monday 23rd November 2020.

The statement noted that the upsurge noticed by the state government in cases of cult activities, other forms of violence, and killings is responsible for the curfew.

Also Read: Umahi Unhappy With PDP Because Atiku Picked Peter Obi – Wike

Wike in the statement declared that the entire area along and around the Okoro-nodu flyover up to a one-kilometre radius from Saint Emmanuel Anglican Church, Rumuokoro, extending to the Rumuodomaya Slaughter and Local Government daily market will be affected.

He added that no form of trading, human or vehicular movement is allowed in the affected areas until further notice.

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

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Zamfara Governor Secures Release Of 11 Kidnapped Victims

Bello Matawalle

Governor of Zamafara, Bello Matawalle has announced the release of 11 kidnapped victims.

According to reports, ten of the victims were male and a female from Bukkuyum Local Government Area.

Matawalle received the rescued kidnapped victims on Saturday night at the Government House in Gusau, the state capital.

The Commissioner of Security and Home Affairs, Abubakar Muhammed Dauran revealed that the victims were released without paying a ransom.

Also Read: Nigeria still needs SARS, Zamfara gov, Matawalle insists

He stated they were released as a result of the peace initiative and stakeholders meeting summoned by Governor Matawalle with all critical stakeholders from Bukkuyum Local Government Area on Thursday.

Governor Matawalle assured that his administration will not rest on its oars until total peace is achieved in all parts of the state.

 

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