Home African CEOs Profiles Nigeria’s mines, steel minister resigns to pursue governorship ambition
Profiles - May 31, 2018

Nigeria’s mines, steel minister resigns to pursue governorship ambition

Kayode Fayemi

Nigeria’s Minister of Mines and Steel Development Dr. Kayode Fayemi, has resigned his position to pursue his governorship ambition in Ekiti State in the forthcoming elections.

He announced his resignation on Wednesday while addressing newsmen in Abuja on the progresses made in the ministry since he assumed office as minister.

Fayemi will be contesting under the All Progressives Congress umbrella. He, thus, handed over to the Minister of State for Mines and Steel Development, Abubakar Bwari, who is to serve in acting capacity.

“My exit from the ministry today follows the acceptance of my resignation by President Muhammadu Buhari, effective today, May 30, 2018, to allow me pursue other political interests. As you may recall, I assumed duty as Minister of Mines and Steel Development on November 11, 2015, following my appointment by the President,” he said.

The outgoing minister told newsmen that the ministry had got the Federal Government’s approval for a N30bn intervention fund to help provide cheap loans and grants to industry participants and invest in infrastructure.

According to him, with the development so far achieved in the sector and the ongoing process of taking the industry to enviable heights, Bwari. In his suggestion, should step in as the substantive minister.

Fayemi, however, stated that his decision to leave Buhari’s cabinet was with mixed feelings, as he was overwhelmed by emotion and support from Bwari, the ministry’s permanent secretary and the entire staff.

Listing some of his achievements as minister, he said the ministry had commenced final moves to fully return Ajaokuta Steel Company to the Federal Government.

The Ekiti State gubernatorial candidate said, “We have made progress in resolving the legal issues around our legacy projects, particularly Ajaokuta. We have signed a Modified Concession Agreement that has allowed for the commencement of the return of the entity to the Federal Government of Nigeria.

“We have in place a timeline of action, which will see the legacy plant become operational in the near future. We are at this time concluding an audit process, further to which we will fully take over the plant. We are taking the most appropriate steps in our national interest to ensure that Ajaokuta is finally put to work after several false starts in the past.”

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