Experts have cautioned the Federal Government not to go ahead with the planned concession of the Ajaokuta Steel Company Limited (ASCL). Strategic projects for national defence or security or wealth creation or industrialisation should never be privatised, he warned. There is no industrialised nation in the world that started its first steel project under concession, especially an uncompleted project such as Ajaokuta. Egypt, for instance, that started its steel project after we embarked on ours, has completed it. “It fails to realise that the key to any political agenda is a solid iron and steel base, not necessarily commerce.

Source: The Guardian April 08, 2018 04:30 UTC