As part of efforts to revive the Ajaokuta Steel Company, the Federal Government says it is partnering the Russian government.
Minister of Mines and Solid Minerals Development, Mr Olamilekan Adegbite, disclosed this at an interactive session with Senate Committee on Solid Minerals, Mines, Steel Development and Metallurgy in Abuja on Friday.
He further said that the main feature of President Muhammadu Buhari’s visit to Russia next week is to discuss the reviving of the steel company.
According to the minister, the Russians have shown interest to help Nigeria revive Ajaokuta with their own money.
“They want to put Ajaokuta back and we are looking at different methods to engage them.
“Because it is almost completed, they bring in some money to finish what is there and operate it for a while; realise their investment, profit and transfer it back to Nigeria.
“I think this is the best path to revive Ajaokuta and I believe within the tenure of our time, we will achieve this,” Adegbite said.
The minister said that Ajaokuta Company was never vandalised contrary to reports but it was concessioned to a particular firm.
Adegbite, however, noted that invasion of the mining industry by foreign nationals was being encouraged by some state governments.
“A lot of effort is going on to check illegal mining in the country,” he said.
Chairman of the committee Sen. Tanko Almakura, said that efforts must be made structurally and legally to encourage states and local governments not to participate in illegal mining activities.
“If you look at the mining, it is in the exclusive list.
“There is the need for us to come together; the Senate, House of Representatives, ministry and stakeholders.
“Let’s get down and unbundle this to give every tier of government some level of participation without usurping the exclusive legislative right.
“We can have the concurrent with the exclusive running side by side,” Almakura said.
