The Federal Government says its plans to revive the Ajaokuta Steel Company in 2022, has been stalled by the outbreak of the COVID-19 pandemic and the Russia-Ukraine war.
Minister of Mines and Steel Development, Olamilekan Adegbite, disclosed this to State House Correspondents on Thursday.
He noted that the federal government convinced Russia to complete the steel facility but could not proceed with the negotiations due to the outbreak of COVID-19.
The negotiations involved a $2m fee for a technical audit required to ascertain the state of the facility before works begin.
He said negotiations were further stalled due to the conflict between Russia and Ukraine.
