Nigeria secures US$1.46bn from Russia, Afreximbank for Ajaokuta completion

Nigeria secures US$1.46bn from Russia, Afreximbank for Ajaokuta completion

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NIGERIA– The Federal Government has said that the Russian government and Afreximbank will provide up to US$1.46bn to fund the resuscitation of the Ajaokuta Steel Company Limited. The Minister of Mines and Steel Development, Olamilekan Adegbite, who disclosed this in Lagos said…

Nigerians stand to reap huge benefits from the soon to be commissioned US$600m AIG steel plant

Nigerians stand to reap huge benefits from the soon to be commissioned US$600m AIG steel plant

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NIGERIA – The Managing Director of African Industries Group Company, Mr. Alok Gupta, has said the company’s $600million Integrated Steel Plant would be Nigeria’s biggest non-oil Foreign Direct Investment (FDI). He noted that the new plant would boost the nation’s economy and…