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FG Renegotiates Concession Deal With Indian Coy, Takes Over Ajaokuta

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Ajaokuta-Pramod Mittal-Bawa Bwari-Vice President Yemi Osinbajo-Kayode FayemiThe Federal Government’s plan to revive the steel sector received a massive boost on Monday with the signing of a renegotiation concession agreement with Global Steel Holdings Limited for the Nigerian Iron Ore Mining Company (NIOMCO), Itakpe.

With the renegotiated agreement, the Ajaokuta Steel Complex has also been reverted to the Federal Government, effectively releasing the entity from all contractual bottlenecks that had left it uncompleted and non-functional for decades, while GSHL retains NIOMCO.

The new agreement, which came after four years of mediation, was signed at a short ceremony presided by the Vice President, Prof. Yemi Osinbajo (SAN), in his office at the Presidential villa on Monday.

Minister of Solid Minerals Development, Dr Kayode Fayemi, signed on behalf of the government, while Chairman of GSHL, Prammod Mittal signed on behalf of the company.

The Minister of State for Solid Minerals Development, Hon. Abubakar Bwari; the International Mediator, Mr. Phillip Howell-Richardson, and top officials of the Ministries of Justice and Solid Minerals Development, also witnessed the signing ceremony.

Speaking at the event, Prof. Osinbajo hailed the mediation process that led to the resolution of the problem that has made it impossible for the two national assets to be functional for years.

He added that it was important the concession works “so that Ajaokuta can take off too”.

SEE: Ajaokuta Steel Mill To Be Completed This Year, Fayemi Assures

Fayemi, who led the Federal Government side in the mediation process, said with the new agreement on NIOMCO, the next step is to commence the process of taking over Ajaokuta and ensuring that it is given out to a serious operator with proven technical and financial capacity.

Ajaokuta-Pramod Mittal-Vice President Yemi Osinbajo-Kayode Fayemi

Fayemi said: “It is our expectation that we would accomplish two things – bring NIOMCO to full function and start the process of retaking Ajaokuta and then give it to a new operator.

“With this, we will move from being just a mineral nation to a mining nation.

“Once the first phase of the agreement is accomplished, it is the intention of the FGN to quickly move into accomplishing the objectives of concessioning the Ajaokuta Steel Plant to the most competent operator who meets the requirements of credible track record, technical capacity and financial competence”.

The minister described the settlement as a landmark development that would help the diversification plans of the President Muhammadu Buhari administration.

In his remarks, the GSHL Chairman, Mr Mittal, said the company waited for eight years to achieve this amicable settlement.

Mittal pledged the commitment of his company to the objectives of the agreement and guaranteed supply to Ajaokuta plant and Delta Steel Company, after which it will sell what is left to other interested parties.

He assured the government of its readiness to commence operation soon, adding that in the next two years Nigeria would begin to produce steel.

Metro News

BREAKING: Police Arrest Suspects As Explosion Rocks Wike Father’s Church

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BREAKING: Police Arrest Suspects As Explosion Rocks Wike Father’s Church

Nyesom Wike

An explosion has reportedly rocked a church belonging to the father of Rivers Governor, Nyesom Wike, in Port Harcourt, the state capital.

The Rivers State Police Command has however announced the arrest of three suspects who allegedly detonated explosives at a Pentecostal church, Christain Universal Church International, located at Mile 3, Diobu area of Port Harcourt.

Also Read: Buhari Will Set Nigeria On Fire If He Doesn’t Implement People’s Demands —Wike

The act was reportedly carried out on Saturday night and detonated the explosives suspected to be dynamite.

According to reports, a significant part of the church was damaged by the explosion, which created panic in the area.

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Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

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 Gunmen Abduct Wife Of Akeredolu’s Chief Of Staff

Ondo on map

Kidnappers on Friday abducted the wife of Olugbenga Ale, Chief of Staff to Ondo State Governor, Rotimi Akeredolu.

According to reports, she was kidnapped around Owena after the Joseph Ayo Babalola University while on her way back to Ondo from Lagos State.

Also Read: Unknown Gunmen Kill Ondo Traditional Ruler, Olufon Of Ifon

The police spokesman in the state, ASP Tee-Leo Ikoro, confirmed the news to Channels Television on Friday.

This development is coming about twenty-four hours after a first-class traditional ruler in Ondo State, the Olufon of Ifon in Ose local government, Oba Isreal Adeusi, was murdered by suspected kidnappers.

 

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TECNO Stormed Computer Village with BBNaija’s OZO to Wrap up its Black Friday Sales Activities

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The month of November is always known for its intense sales activities because the best deals of the year come
during the Black Friday Period. For TECNO, Africa Number One mobile brand, it was the time to reward its
customers with massive discounts and various gift items while also unveiling some of its new devices.

The brand in collaboration with SLOT stormed computer village as part of the events to wrap up its black Friday
sale activities, hosted BBNaija’s Ozoemena Chukwu to a hangout at SLOT Ikeja.

Fans and customers had a fun time interacting with the handsome celebrity while enjoying discount offers on
TECNO devices. Different deals and gift items were up for grabs as customers who made purchases at the store
enjoyed 50% discounts on Spark 5, Camon 16 Series and 100% cashback on the Spark 5 Pro.

The major highlight of the event was the presentation prizes to lucky winners. Customers who participated in
the spin the wheel game won gifts items such as Bluetooth Speaker; Power Bank and kettle while those who
participated in the Scratch and Win Promo won for themselves different deals ranging from 50% to 100%
cashback.

TECNO also introduced two latest devices-the Spark GO 2020-powered by Google Android 10 Go Edition and a
TECNO POVA. POVA means ‘Powering Optimal Value and Ambitions’ is a rebrand of the popular battery series
formerly known as Pouvoir was inspired by the zeal to deliver budget-friendly smartphones with superior
gaming experience.

The first of its kind 6.8-inch TECNO POVA, is powered by Mediatek Helio G80 octa-core processor and hyper-
engine game technology that transforms gameplay experience giving ultimate stability and a high refresh rate.
Additionally, users will benefit from the “Game Space,” “Game Mode,” and “Game Assistant 2.0” features,
allowing them to switch to the “do not disturb” function, a much-anticipated experience all gamers will
absolutely enjoy.

The TECNO POVA is also equipped with a power-packed multitasking effect ramped up by 6GB RAM and 128GB
of internal memory. The device also has a 6000mAh super big battery, 18W Dual IC Flash charger, a standby
time of 30 days and the ability to play music for 8 days straight, on just a single charge. It’s the perfect
smartphone offering a way to worry less about low battery.

The new devices are available for purchase this November and for the rest of November, customers will enjoy
amazing discounts, instant and mega prizes on TECNO devices.

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