The Federal Government of Nigeria, through the Ministry of Steel Development, has signed a Memorandum of Understanding (MoU) with a Russian consortium for the rehabilitation, completion, and operation of the Ajaokuta Steel Company Limited and the National Iron Ore Mining Company (NIOMCO).
The failure of the project has been blamed on several factors including poor management.
Global Steel Holdings Limited is reportedly preparing to sue the Federal Government over the control of the Ajaokuta steel mill.
