Thursday, Feb 02, 23

FG Pays $496m to Resolve Claims Regarding Ajaokuta Steel Mill

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FG Pays $496m to Resolve Claims Regarding Ajaokuta Steel Mill

The Nigerian government has finally paid the sum of $496 million to settle a multi-billion dollar claim from Global Steel Holdings Limited to reclaim the Ajaokuta Steel Mill in Kogi State. Recall that Global Steel entered the Nigerian steel industry in 2004 following five major concessions and share purchase agreements by the Olusegun Obasanjo administration.
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