Sunday, October 17, 2021

FG Allocates N4.2bn To Ajaokuta Steel Company Limited



The Federal Government has allocated the sum of N4.2bn to the Ajaokuta Steel Company Limited in the 2022 budget details .

Report from the budget office said that the steel company had continued to receive regular budgetary allocations and disbursements in the past six years, despite being idle.

According to the 2022 Budget details report, the sum of N3.9bn was allocated to cover personnel cost, N186.9m was earmarked for capital projects implementation while N75.3m will be expended on overhead.