A Review of the Nigerian Energy Industry

Govt perfects sale of multi-billion naira Delta Steel to auto firm

25 February 2015, Lagos – The Minister of Mines and Steel Development, Mr. Mohammed Sada, on Tuesday disclosed that barring any last minute hiccups, the federal government would sell Delta Steel Company to an automobile firm.

Minister of Mines and Steels Development, Musa Mohammed Sada.
Musa Mohammed Sada.

The minister stated this when he appeared before the Senate Committee on Power, Mines and Steel, to defend his ministry’s 2015 budget.

According to him, the Assets Management Company of Nigeria (AMCON), had put a machinery in place to carry out the sale.

He said: “Now AMCON is in the process of selling it and I am aware there are quite a number of people that have written letters of intent that they are interested.

“What interests us in the ministry is that those interested are people that are interested in automobile development.

“We believe in the system now that someone who has interest in developing a value chain around the company is showing interest in buying it,” he said.

– This Day

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