No foreign investor can make Ajaokuta Steel Complex work ― MAN No foreign investor can make Ajaokuta Steel Complex work ― MAN
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Manufacturers Association of Nigeria (MAN) has said that plan of the Federal Government to resuscitate Ajaokuta Steel Rolling Mill may be a mirage with the exclusion of local industry operators.
Speaking with Tribune Online in Ilorin at the weekend, the chairman, Basic Metal, Iron and Steel and Fabricated Metal Products sector of the MAN, Dr Kamoru Yusuf, said that the process of resuscitating Ajaokuta Steel complex was not properly structured.
Dr Yusuf, who discouraged proposed negotiation on the revival of the rolling mill with foreigners, said that it would be impossible for any foreign investor to bring Ajaokuta Steel company back to operation.
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The KanInvest and Diaspora, in partnership with the Links, a UK-based company and the Manufacturers Association of Nigeria (MAN), has secured N10 billion intervention fund from Central Bank of Nigeria (CBN) in its bid to revive industries affected by the COVID-19 pandemic disease in Kano State.
By Olawale Ajimotokan in Abuja, Nume Ekeghe and Dike Onwuamaeze in Lagos
Economic analysts and representatives of the organised private sector (OPS) have warned against a second lockdown in the country, expressing concerns about possible job losses even as the added that efforts at stimulating economic activities to facilitate an earnest recovery from recession would be hampered.
They warned that any total lockdown of the economy will lead to huge economic and social costs that the country will not be able to manage, adding that what is needed right now is a firmly articulated risk management framework on the spread of COVID-19.
January 19, 2021
January 19, 2021
Kano Investment and Diaspora, in partnership with the Foreign Commonwealth Development ((LINKS) and Manufacturers Association of Nigeria (MAN) have secured a N10 billion intervention fund from the Central Bank of Nigeria (CBN) to revive companies impacted by the Covid-19 pandemic.
Speaking at the sensitization meeting on Kano Turnaround Project, on Monday, in Kano, the Director General of KanInvest & Diaspora, Hajiya Hama Ali, said the programme, which was designed to revive companies that had been affected by COVID-19 pandemic, would target at least 50 companies.
She explained that the CBN initially donated N10 billion to the agency, for the project’s take-off, saying that the apex bank had agreed to also increase the fund.