What really happened to Nigeria Billion dollar steel company
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- เผยแพร่เมื่อ 2 ต.ค. 2024
- In today’s video, we take a trip to Ajaokuta a community in Kogi State, Nigeria to find out the true state of Ajaokuta Steel Company.
What really happened to this billion-dollar steel factory that should have changed the fortune of Nigeria.
Let’s find out (Black)
In 1973, Iron Ore of required quality was discovered in Itakpe in Kogi State Nigeria, subsequently The National Iron Ore Mining Company (NIOMCO) was founded in 1979 along with Ajaokuta Steel Company.
The mission of NIOMCO was to explore iron ore in various parts of the country, process and supply the iron ore concentrates to the Ajaokuta Steel Company, from where steel and liquid still are produced. So essentially NIOMCO will be doing the mining of iron ore, while Ajaokuta Steel will be doing the processing of iron ore to steel.
To construct the Ajaokuta steel complex, in 1979 Under a Cooperation agreement between Nigeria and the then Soviet Union The construction of the Ajaokuta Steel Company started.
The construction was expected to be completed in 7 years, that is from 1979 to 1986.
Different companies were involved in the construction of different components of the project, however a Russian firm called Technoproexport in short (TPE) were the main architect and project managers of the project.
Unfortunately, President Shagari government which started the project in 1979 was overthrown in 1983 in a coup and another government took over and the project was never completed in 1986 as planned
Walkthough talk….
15 years later in 1994, the Russian firm completed the project to 98% and needed Nigeria government to meet up with its 2% contractual obligations, Unfonately, that never happened, so the company abandoned the project and left Nigeria in 1994.
The company then demanded for $2.5bn compensation for the work they have put into establishing Ajaokuta steel, after long negotiation, it was agreed that they be paid $500m with the plans that they will be re-invited to complete the works.
Also as at the time the Russian Firm TPE left Nigeria, they did not handover the detail Master Plan to the Nigerian government, because they were still expecting to be invited to complete the work
However instead of recalling the original builders of the factory for completion, in 2004 the Nigerian govt now led by President Obasanjo leased the project to Solgas Energy, an American firm.
Shortly after leasing Ajaokuta steel to the solgas, sighting non-performance, the contract was revoked and given to an Indian company called Global Steel Holdings.
Unfonately the Indian company Global Steel, did nothing significant in getting the place to work either
So in 2007 After President Musa Yaradua took over from Obasanjo, he terminate the concession given to Global Steel accusing the Indian company of asset stripping and faulting the agreement to be largely skewed in favor of the Indians.
The president also ordered that the Indian company be investigated for corruption and assent stripping. Well as you know, president yaradua government did not last that long, and the investigation he ordered to be conducted nerve happened.
Well, the Indian company however sue Nigeria govt claiming they spent $500 million on the project.
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I really enjoyed this Documentary bro. Whenever you come to Akwa Ibom, try and take a walk to the Aluminium Smelter Company Of Nigeria(ALSCON), which like Ajaokuta is suffering almost the same fate. ALSCON is a bit different, in the sense that it was completely built and production started but died off along the way. ALSCON was the first export processing factory in Nigeria and it's also the second biggest Aluminium plant in Africa.
Thank you very much Nsikak, and Yes, there is actually alot of things to document about your beautiful state Akwa Ibom I trust God I will get the opportunity to visit and do a proper documey on the city as well as your suggestion on ALSCON.
It's pathetic how our leaders and politicians have allowed manufacturing sector in Nigeria to die.
Although I heard your present Governor is interested in reviving some of this factories in Akwa Ibom as well as build new ones.
Thank you very much for this informations. There are very important for our knowledge. Nigeria should do everything as his possible to relaunch these two factories: Ajaokuta steel and Aluminium Smelter Company of Nigeria( ALSCON).
without steel and aluminum, there are no industries and people can not solve properties.
What we should be learning from this is that government doesn't have the same interest as private companies in building and sustaining any business.
The lesson you should learn from this document is get the government out trying to run a business. Russia and China tried to run state owned businesses and they went broke. The same clown running around talking today is the person the screwed this project up.
All constructive contributions
Buhari has a very bad energy...See how long this man has been a clog in the wheel of Nigeria's progress.
You give out a Russian Steel company and Technology build by the Russians to be man by American company is the most stupid insecurity thing to do by Obasanjos regime, it's like giving a herd of cow to the wolves to Shepherd. 😂
Great work. Naija is blessed with resources unfortunately, we don't have visionary leaders who can turn the resources around.
It breaks my heart that the enemy is from within!!
This would be a trigger for industrialization, the forces against it are many.
true
I once drove from Abuja to Enugu, Kogi state marveled me, Nigeria's current state of poverty is a direct result of our own making.
Mud houses everywhere 😭😭😭😭
@@masonlucas2685 Beauty isn't underscore by mud houses
I would rather have Ajaokuta steel company running than have senators. I would rather have electricity in Nigeria than have senators, l would rather have good roads in Nigeria than senators. Which begs the question really why does Nigeria have national Assembly, functioning and paid monthly when the most important things to the country are not functioning? Scrap government already in that country and things would run smoothly. There is no hope for a country or society when the looters are all illiterate and imcompetent at the same time. The only good thing l see in Ajaokuta is the beauty of the place, Nigerians, with their imcompetent and illiterate leadership or the lack of leadership would have turned this beautiful place to a dirty shanty, lack of planned town by now. Sorry to say. Thank you for the video.
DANGOTE SHOULD TAKE OVER IT
Like the dude that was interviewed, I was born and raised in Ajaokuta town. I weep each time I watch a documentary on the steel complex.
Hopefully something will be done soon
My Big Bros, greetings from Germany. U not the only 1
May GOD continue to bless you richly Sir... Your videos are very instructive
Thank you for watching, Campus for Christ. Appreciate it. do kindly share with your social media contact as well.
I knew Buhari was in office when I was in Nigeria, 1981-1987. That means I’ve had Buhari for President twice. Who thought it was a good idea to have him as President again? So I’ve only known one President in this Nigeria.
*Come to DSC Ovwian-Aladja.*
Great content chief.
I really wish we can have great leaders in 2023. What I saw really broke my heart
Very true.
That would provide, massive amounts of Jobs for the Nigerian economy, unfortunately it didn’t happen. Why Nigeria a rich country with so much wealth and resources why they, need other countries to come to help them. And turn around to take away their wealth to another country.
The day Nigeria would' have a good government that's when the world will realise how giant Nigeria is' until then I rest my case' thanks for your work mr
The problem in Africa is when one government starts a project, another government comes in and ignore and thats killing us slowly. U see huge amount of money invested and spent but at the end of the day nothing comes out... we have great assets in Nigeria we only need good leaders to get things right...
A giant that never rose… NIGERIA 💔
Мы там жили и работали. Строили ваш завод.
Очень печально. Я сам с Нигерии и мне стыдно. Мы извиняем 🙏🙏🙏
This makes me cry for Nigeria. The incompetence of our government is total
Only restructuring can work in Nigeria. States needs to manage its resources and hold the governors responsible
we were here for an industrial visit during my university days. Most of the rocks in Ajokauta are mainly iron ore. Nigeria is really blessed, but bad managers as ruined the good fortune God blessed us with. So sad
Very informative. Keep pushing... Keep exploring... Keep educating. 🎉.. we support 🙌 and appreciate your work.
This same Buhari...🤮🤮
I want to say a big thank you for highlighting this monster problem. Our leaders always find a way of killing anything that will put us positively on the global map. I weep for my country.
So right brother. Hopefully a new set of leaders will arise someday to change all if this.
Thank you for watching
@@DavidNkwa I wish this with all my heart, that we have new sets of leaders that will lift this country from this mess.
The size of the place is so intimidating and the effect on the economy will even be more impressive. How this country continue to do the wrong things baffles me
Baffles me too. Thanks for watching this documentary do check out others on the channel
Nigerians fight back to get this Steel company working. It's bigger than your country, It's a matter of reel devlopment, and top leading counrries knows that this steel company will reduce Steel imports and bhoost Nigeria Economy and developement, making homes available at a fair price for the majority. Never give up on this project
Heart break, 2% more to complete, and they awarded it to an American Company. May God forgive our leaders, this is pure evil.
Thanks! very educative & informative
Thank you
Yes I have been there several times , the only woman who was to restore there was NATASHA Akpoti who was dethroned from that senator ship 😭 after her I don’t think anyone can fight for ajaokuta
Let’s face the facts only the Russias can’t get this back up and running
It is a false claim that Global Steel did not do anything significant. They reactivated many of the units (Power Plant, Wire Rod Mill, Billet Mill, LSM, Lime plan, Sinter plant, and some more). The information and fact is there for everybody to access. There is nothing superior in the Iron Ore at Itakpe.
So military takeover somersaulted the plans initially in 1983.
Lack of foresight and selfishness sealed the fate of Ajaokuta Steel when Gov't refused compliance to the 2% completion funding.
Here we are today. O ma ṣe o.. 😢
Shagari overthrown by Buhari in 1983 2:15. Buhari destroyed Nigeria btw 1983 and 1985. He did it again between 2016 and 2019. Such a very useless man.
The elderly man you interviewed was so brilliant 👏 🙌 he said the biggest truth in the video. It's all this European and Americans that don't want that steel plant to work. Periods
Thank you for your insights David.
Nigeria needs Gaddafi Style socialist government
What do you expect when there’s no honesty from top to bottom? When is the me mentality going to change to us? This could have impacted a larger number of people.
This steel company is rumoured to have nuclear reactor capabilities. This steel company can do many things and who wants an African country to have such a company operational?
The man is right. Western interest
God will judge everyone that voted for Buhari to rule Nigerian. What a shame and waste
Q for u why don't the Nigerian government send Nigerians to Russia , US or Germany to get training so they can see how a steel plant is operated. Those that train can manage and continue to train the your local Nigerians? Second Q do you think the USA is going to be acceptable to Russian involvement in Africa? Although it is none of their business but with all what is going on presently with them and Russia omg their want other country to follow suite with them. It is time for African governments stop relying on others and rely on themselves. Send people for training to do the job and limit foreigners. Please don't get me wrong I am not saying foreigners are not needed, but focus on your own especially when unemployment is extremely high. The government should encourage the state and locals to buy shares in the company so it can be up and running. What do you think?
They is the way South Korea does it.
They learn a technology and improve upon it and create their brand.
The problem with Nigeria is we have poor and visionless, corrupt, ethnic centre leadership
You are very right, no country can sustain development by relying on foreigners only
There were enough trained Personells meant for that Company as of 1995.
But they are now scattered across the Globe.
I met some Personally.
There are 2 Answeres to this: Negative Foreign Intervention + Stupid Leadership.
May God help the Black Race
@@DavidNkwa More Blessings to U Sir
But pls add Foreign Intervention to it.
Nice one, sir!
Our leaders have used this white elephant to drain our public coffers. We are yet to see anything good comes out of Ajaokuta.
Thanks for watching.
Hopefully that could change soon
Can’t believe this project was actually abandoned because of the same “Buhari” 😂 what’s is wrong with that man!
🤔 Very Pathetic. follow our Northern and Eastern Nigeria Doc Series Here: rb.gy/zfcsy6 and rb.gy/mdz3fx
That same man truncated a democratic government, and came back re-born as a democratic leader.
Nigerians voted Buhari again for good 8 years seems Nigerians love suffering we never learn from history I hate it here but Peter Obi has restored my hopes again of a great Nigeria clothed in fine linen ♥️ May Nigeria be great again
U don't know our story so keep calm
Cow brain Ipob
thanks a lot for this documentary.
i enjoy watching all of your contents
Thank you for watching.
Kindly share the videos you find interesting on your social media 🙏
Well Done, eyes wide open, nothing but tears. God has not forgotten Nigeria.
Once again, Buhari strikes!
This is amazing David. So sad to see the potential of Nigeria going to waste. As the gentleman was saying, so many jobs could have been created for so many. Nice work. Hope you are doing well.
Hello Waleed good to hear from you., Yes am doing okay.
Thanks for watching and commenting.
Hopefully something significant will be done by Ajaokuta sooner than later.
❤️🙏
Sometimes the question one could ask always is...who is really doing this to Nigeria?And the only answer is ourselves, i mean Nigerians,because i don't know why such a wonderful and lurucative company is not working on is full capacity,the politicians are there campaign while the masses are hailing them...Mr David thanks for the video,such a blessed country but some fools says it will not work well what can one expect when "COW REARERS TURN TO LEADERS"
Unfortunately you are part of the problem of the country your ethnocentrist mindset...
The project was conceived by shagari, continue and finished up to 94% by Buhari... your cousins Obasanjo and Jonathan failed and actually sanctions the project never allowed it to see the light of the day and lately it was buhari that's championing it's resurgence..so stop your assumptions and ethnocentrist biases. Truth must be told
A leader can come from any roots. There is no reason why a cow rearer can't become a good leader. India's Prime Minister Modi was a roadside tea seller when he was young. Today he has the vision to make India a developed nation in just 25 years. And he is able to successfully work towards it. So more than the background of a leader, what matters is his integrity and vision.
Nice drone shots bro
Haha well done.
I see you are in my area pH.
Well done.
Good job. Nigeria cannot become industralised without a steel smelting mill. Ajaokuta remains the key to Nigeria's industralisation.
This is where Yahaya Bello supposed to have channel he's energy....But all he does what to campaign for 8years then campaign for his acolyte to do another 4years in order to cover up his ass 🙄 from all the loot he'd looted kogi dry
Nigeria has only Nigeria to blame for its failures. Long live Nigeria
The FG abandoned the Ajaokuta Steel industry for lack of money but it had money to build railway line to Niger Country and also to buy vehicles for Niger Govt
God dey ooo
God bless U sister ❤
Nice Documentary
Brilliant reporting. Thank u for sharing. Nigeria is like India. Only a little push is now required. 🙏
Same story everywhere, corruption and lies, all the money goes to pockets of those in charge. Hopefully things get better...
You said Nigeria import steel and supposed to be exporting . But, the oil industry is even worse. We import oil despite being African largest oil producer. The four refineries are in deplorable condition without producing anything yet millions of dollars are spent on them quarterly. This country is a joke!
I cry anytime I pass through that place, power house of progress to all Nigeria, if that place work to it full capacity we will produce aircraft,cars,ships, just to mention a few, another one is Akwa-ibom Aluminum factory company why why Nigerians leaders!!!!!!!!!!!!!!
You don’t have the intellectual capital. You just don’t.
@@NoahBodze we’re just waiting for the boomer generation to pass. They were the last generation to not receive global/ international education. Millennials and gen z are watching the chaos they are causing from the ignorance. We’re just waiting. We have been sent to USA, UK, Switzerland, Norway, Turkey, Japan, Korea to receive higher education; renewed intellectual capability and renewed passion for our origins and homes. Im sure you’ve seen a good bunch of Nigerians wherever you live. WE ARE EVERYWHERE. A new generation a new age. Our role now is to recouperate all the lost knowledge and identity that was taken from us when we were colonised as this event still affects us within our society and the cohesiveness of our culture has been weakened. But slowly we are realising this.
And my generation is not older than 22/23. So when we all reach the age where we are all qualified experienced and ready to integrate in the professional world properly (after university and initial employment) and all our ideas and capabilities assimilate into one renewed passion again ; (to rebuild our invaded motherland form the ground up). Oh boy we’re gonna dumb rich and powerful again. Move in silence wait to strike. Our only notice
@@BLACKLOTUSuk Try to be Active in 9ja Politics Thats the fastest way of improving the Situation .We are not lacking intellectual capital, rather an Absence of healthy Political Environment. Give a MAD Man a loaded gun & the Wisemen around him will become Zombies overnight!!! An African adage
For aircraft, more than steel, you need to focus more on Aluminium, Titanium and composite materials.
Love your work
Thank you! Kindly Turn up notification for future uploads
This was an eye-opener, David. Thanks for the video.
Thanks very much for. Watching
Just look at nation blessed with natural resources but still ponders in poverty because of greedy and visionless leaders. We need total transformation.
I once passed through the complex and I was in awe of the massive waste our government is capable of by allowing such an asset remain in a state of disuse, and to realize that President Bihari under whose watch the Project lost tracion in the first instance had another swing at reviving it in a 2 term tenure but yet no results. It's such a shame.
Îmi pare nespus de rău, că acolo nu funcționează lucrurile, cum ar trebui. Guvernanții, senatorii și toată conducerea, ar trebui mai mult interes din partea lor, că i păcat de această țară frumoasă. Ar trebui investiții, noi locuri de muncă și multă prosperitate.
We as a Nation are the architect of our own downfall. What a shame. Dave, thank for this masterpiece..
Your most welcome
This project would have launched Nigeria into the league of industrialized nations. But then, bad governance and ineffective leadership have caused us a lot and set us back many years.
Imagine if this company is fully operational the benefits that would have accrued to Nigeria and Africa.
Nothing the government does that works. The refineries, power plants, Aluminum Smelter, and many more. Corruption will never anytging work in Nigeria. So sad!
you can access the company by road,by train, or by water(river niger)
D dubious attitude we played with d Russians is what is following us 🤔
Lol
you maybe correct
Hmm...
Sad outcome. Nigeria has a very ancient and early iron forging tradition; would be great to see revival.
Abeg do Nkalagu cement factory for us .
Hopefully
Let's Dangote take over this
No need, Ajaokuta is ready for work now.
Welldone sir. You're doing well.
Good documentary hopefully future administrations will pay more attention to this important project as this actually the bedrock of industrial development.
Keep up the good work
Thank you
Nigerians couldn’t be traveling to other countries in search for green pastures in the first place. It had everything literally to be on the top.
Well done Mr David. Please l want to know more about Nkala Agu cement industry
ok
Buhari has been a disaster to us in this country from de beginning.
The reason why Nigerian resources will not be used to benefit her people is because her leaders do not realize that the people are the greatest resource that the country has. Of the people were made the top priority, the country would flourish. Will the mindsets of Nigerians ever change?
I hate Buhari he's very devlish 😩🐱
🙄
Definitely you hate yourself, the works never stop under Buhari they completed the Job upto 98% ... you should hate whoever was in power after the work was completed that failed to come up with it's 2%
Don't hate Buhari, Ajaokuta is ready now.
Great content again.
Thanks again!. Kindly share
This is sad 😢😢😢
Not until the Nigerian people begin to hold political leaders to account , nothing will happen here. It's quiet a pity that in the midst of plenty, Nigerians suffer richly!
Russia will not help to revive Ajaokuta unless Nigeria is prepared to support their war against Ukraine at the United nations, Which is not possible..
It's about technology and management, people's complain and leader's decisions don't make sense
Wow I’m still trying to figure out Nigerians down fall I wish the leadership would understand how this country is laugh at sad 😔 There is a level smartness a great people and way I will continue to pray that leadership will care about her people and stop making her a laughing stock. Peace ☮️
Until Nigeria have a fearless leader like Muammar Gadaffi of Libya, Nigeria will remain asleep and never wake.
#SleepingGiant
All we have are awake looters. The real giant is yet unborn.
They don't want to die na.
Bro I really like this video. NICE ONE!!! I was there last week but was not allowed into the premises to make a video. The story behind this company saddens my heart! When and where is your next destination?
Thanks @Kante Quest for watching and commenting. For real the story of Ajaokuta is very pathetic and unfortunate. As of my next destination, For now, I will not be traveling,. Am back in Abuja and we will see the opportunity next the coming year brings. God willing. Warm regards
Yoh. They should've stayed with the Russians
My town
good and educational thx for this .what a massive place ,i hope this can be down well what a great opportunity and keep pressure on those concerned to start this up honestly
To hear this is devastating. Africa have a multitude of educated individuals along with people who have the desire to better their lives. Why sell it to countries that does not have our best interest in mind. We need to run it ourselves and watch it flourish.
You put it right. It’s really the notorious abandon mega project lol 😂
My father worked in Asco and I attended the company school ,we lived in the estate ,all I ve heard is government making promises and fulfilling any,
Western countries want to keep exporting their products and keeping their $$ Dollars and Pounds as the Number one currencies in the world. Exportation is what keeps their currency UP. They know that if this Ajaokuta starts production, we will be able to setup many industries in Nigeria and totally stop importing western goods. We will start exportation too and our Naira value will increase. And that's the main reason this steel mill has been totally halted in all production. I respect your father. I respect you.
Very educative and eye opening video , thanks for the enlightenment
Ok, all you critical thinkers. A country needs to develop raw materials like iron in order to defend itself and innovate. Think about who has the most to benefit from this facility not working.
Weldone brother , you put a lot of efforts into this
I hope Aliko step in
To monopolise our commonwealth and leave the indigenes and residents of kogi in poverty…..we all need to hold our wicked and selfish government accountable that’s the way to go
As long as you continue to believe in was you will neither be able to hear nor see is.
This is great news thank God you are doing well
What a joke of government high officials