Строительство[ править править код ] В году советские геологи с участием нигерийских специалистов разведали железорудные месторождения Итакпе-Хилл, Аджабоноко-Хилл и Шокошоко близ Окене  . В сентябре года технический проект был передан нигерийской стороне, которая утвердила его в июне года . Для переработки сырья в году началось строительство металлургического завода. После завершения строительства первой очереди мощность завода составит 1,3 млн тонн стали в год . Для комплексов металлургического завода были проведены подробные русловые исследования сотрудниками Проектного и научно-исследовательского института инженерного строительства Госстроя СССР и Проблемной лаборатории эрозии почв и русловых процессов географического факультета МГУ при участии Константина Михайловича Берковича и Алексея Юрьевича Сидорчука  . В рамках содействия советские геологи длительное время проводили геолого-поисковые и геолого-разведочные работы с целью создания для металлургического завода топливно-сырьевой базы.
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Luckily for the country, large iron ore deposits were found in Itakpe, Ajabanoko and Oshokoshoko all in Kogi State two years after. This was supposed to be good news for Ajaokuta as the ore was meant to serve as a raw material for the complex. The Ajaokuta Steel Complex and Delta Steel Company were subsequently incorporated in as limited liability companies.
Between and , the then federal government stated that it had achieved 84 percent completion of Ajaokuta Steel plant, having completed the light mill section and the wire rod mill. It was also widely reported that erection work on equipment reached 98 percent completion around Ever since then, Nigerians have been made to believe that Ajaokuta is 98 percent completed. Despite being unproductive, government after government has continued to pump billions into the complex.
The current government of Muhammadu Buhari has joined the party of spenders on a government facility that needs to be in private hands. In a move that shocked economists and finance experts, the federal government budgeted N3. Kayode Fayemi, current Ekiti State governor, was the man in charge of Ajaokuta as minister of solid minerals development. The number could have been one to five million metric tonnes lower had Ajaokuta been producing and expanding operations since , experts say.
Ajaokuta and Delta Steel were incorporated the same year— But the latter has, by far, dwarfed the former. Analysts say it costs Nigeria an average over N5 billion annually in real terms to maintain Ajaokuta, wondering why the government should not sell the behemoth to an interested private firm.
Ajaokuta Steel Mill
Among other things, the gigantic steel project, which is bigger than Lokoja-the state capital, consists of over 20 housing estates, hospitals, a national diploma awarding school, the main steel plant and even an inland port. In fact, as years rolled by, completion of the project became an electioneering campaign refrain for those seeking political office, but who show no commitment or make no attempt to fulfill their promises after being elected into office. President Muhammadu Buhari, during his presidential campaign visit to Kogi State promised to complete the comatose steel complex, but four years after he made the promise, he has not kept his word, rather his administration has listed it as one of the state-owned outfits to be disposed of. It was after a flustered Governor Yahaya Bello reminded him of the project that he casually commented that his government would complete it in order to create jobs and bring about development. Another school of thought is also of the opinion that the privatisation option may not be the best for the facility in view of the fact that the project is too massive for an individual investor to muster the financial muscle to complete, let alone make it functional. That explains why they say a government-to-government type of concessioning is the only viable option that can make the idea work. All of them are under lock and key, especially that of Oshogbo and Jos.
Ajaokuta Steel Company Limited