RUSSIAN AGREEMENT: BETWEEN PRESIDENT BUHARI AND AJAOKUTA COMPLETION BILL 2018

President Buhari has used Russian agreement to prove 8th National Assembly wrong over the passage of Ajaokuta completion bill 2018 which he refused to sign into law in 2019. The issue of uncompleted and abandoned Ajaokuta Steel Rolling Mill was presented by President Buhari in Russia recently. His request for the return of Russia, on a government-to-government relationship for completion and commissioning of the plant was accepted by President Putin. President Buhari has moved from rejection of Ajaokuta completion bill 2018 to sign an agreement with Russia in 2019. Earlier, the Minister of Mines and Steel Development, Olamilekan Adegbite had a very fruitful discussion with his counterpart in Russia on Ajaokuta. President Buhari has proved his critics wrong on his rejection of Ajaokuta completion bill.
President Muhammadu Buhari declined assent to a bill seeking to fund the completion of Ajaokuta Steel Company which was forwarded to him by the National Assembly in February 2019. The President also declined assents to seven other bills including the controversial National Housing Fund Bill also passed by the federal parliament. Buhari, according to the letters, cited several reasons ranging from infractions on extant laws, duplication of responsibilities of existing agencies, to financial constraints for refusing assents
Justifying his reasons for rejecting the Ajaokuta Completion Fund Bill as stated his letter dated March 19, 2018, Buhari said appropriating $1bn from the Excess Crude Account as requested for in the bill by the federal lawmakers, is not the best strategic option for Nigeria at this time of budgetary constraints. He said, “The Nation cannot afford to commit such an amount in the midst of competing priorities with long term social and economic impact that the funds can be alternatively deployed towards.
“Bills which seek to make appropriation of revenues to fund public expenditure should be consolidated in the annual Appropriation Act such that the proposals pass through the traditional scrutiny that budget proposals are subjected to by the Ministry of Finance, Ministry of Budget and National Planning and the National Assembly. “Furthermore, as the Excess Crude Account Funds belong to the Federation, it would be proper to consult with the National Economic Council where the States are represented. “Relevant stakeholders such as the Ministries of Mines and Steel Development, Industry, Trade and Investment were not fully consulted.
I must commended President Muhammadu Buhari for taking steps towards the revitalization of the Ajaokuta Steel Company through the proposed signing of an agreement with Russia, the original builders of the steel plant. Now that the President Muhammadu Buhari led administration has taken a bold step to bring the original builders of the plant back to complete the plant, I am optimistic and confident that in no distance time, what we have been dreaming and craving for , will come back to life.
President Buhari will not renege on his laudable plan for Ajaokuta steel company. “I am calling on the management and staff of the steel company to support the president with prayers to enable him actualise his plan of going to Russia to sign an agreement for the completion of the integrated plant that will create enormous jobs and generate huge revenue for the government.” Ajaokuta steel workers deserve national honour for maintaining and protecting the plant from vandals, saying the technical audit conducted in 2010 and 2018 clearly indicated that all the equipment were intact.
NIGERIA has struck a major deal with Russia on the completion of the abandoned Ajaokuta Steel Rolling Mill. It is part of the agreements reached during a meeting between President Muhammadu Buhari and Russian President Vladimir Putin in Sochi, Russia. The agreement was reached during a bilateral meeting held on the sidelines of the ongoing Russia-Africa Summit. A statement by the President’s Senior Special Assistant on Media and Publicity Malam Garba Shehu said the two leaders agreed to start new infrastructure projects and expand trade and investment, as well as strengthen security and military cooperation.
Nigeria and Russia will work together to improve the efficiency of Nigeria’s oil sector, which will see to rehabilitation of the oil refineries through a joint venture between Nigerian National Petroleum Corporation (NNPC) and Russia-based Lukoil. Both NNPC and Lukoil will work towards prospection of oil in deep offshore. Nigeria and Russia also agreed to revive and solidify the venture between the NNPC and Russia’s gas giant Gazprom for the development of Nigeria’s enormous gas potential and infrastructure.
The Russia government agreed to support the development of Nigeria’s rail infrastructure by constructing 1,400 kilometres track from Lagos to the South-South city of Calabar.

I must commend President Muhammadu Buhari for rejecting Ajaokuta completion bill in 2018 and signed bilateral agreement in 2019 with Russia on the revival of Ajaokuta Steel Company. The Senior Special Assistant to the President on Media, Garba Shehu, had revealed that both countries agreed to a bilateral proposal that contained various areas of interests including the Ajaokuta Steel Rolling Mill. Mr Shehu stated that both countries had a fruitful deliberation and President Buhari’s request for the return of Russia, on a government-to-government relationship for completion and commissioning of the plant was accepted by President Putin.
The development will revive the hope of Nigeria as it would go a long way to boost the country’s economy and solve to very large issues of unemployment as well as limiting the state’s reliance on Federal Government’s allocation. “The effort of President Muhammadu Buhari in reviving the lost glory of the steel company is an attestation to the fact that he was a promise keeper who sought the good interest and development of the confluence state.
Nigerians owed the President Buhari a deep sense of gratitude that Nigerians should continue to give the administration the very best support. We must thank the Russian government for showing faith in the possibilities which the steel company holds for both parties. We must render unflinching support in the steel company revival process. Nigerians are grateful to the president for fulfilling his promise of revitalising the steel industry. The president during his campaign in February at the Lokoja Confluence Stadium assured the people of Kogi state of revitalising the Ajaokuta if returned to office.