The Federal Government has inaugurated a Presidential Project Inauguration Team on the Ajaokuta Steel Company in line with the recent agreement reached with Russia to revive the steel company. 

The Secretary to the Government of the Federation, BOSS MUSTAPHA while inaugurating the team noted that the Ajaokuta Steel plant has languished for about four decades and previous efforts at reviving it had proved abortive.

He said this has resulted in avoidable massive foreign exchange losses at an intolerable opportunity cost to the country, adding that the pressing need to redress these avoidable challenges necessitated the current Presidential intervention.