The unit handles the
privatization of the Nigerian Coal Corporation, which involves the sale of the
core and the non-core assets of the Corporation. The core assets consist of
nine coal blocks. The non-core assets include movable non-core assets that
include office equipment, furniture and fittings. The immovable non-core assets
are undeveloped land, residential and commercial buildings and plantations
located in Enugu and Kogi States.
The unit oversees the
privatisation of the core and non-core assets of the Nigerian Mining
Corporation, (NMC). The core assets are made up of subsidiaries and Joint
Ventures/Associated Companies and some mineral titles. The non-core assets are
made up of landed properties, that is, residential houses, commercial buildings
and undeveloped plots of land. NMC had about twenty-one (21) subsidiaries,
forty (40) Associated Companies/Joint Ventures and over sixty (60) mining titles
that are slated for privatization; majority of which have been privatized.
The Steel unit is
responsible for the privatization of seven steel enterprises; five of which
have been privatized. Only Ajaokuta Steel Company (ASCL) and National
Iron Ore Mining Company (NIOMCO) are yet to be privatized.
in the Department
Coal Block I;
Coal Block II;
These have been successfully concessioned and handed- over
to the core investors in 2007;
There is a Memorandum of Understanding (MOU)
between the Federal Government and an investor, HTG-Pacific Energy Consortium
since 2012 to carry out studies and investigations and prepare reports for the
development and mining of the coal block and the construction and operation of
a 1200MW Coal-fired power plant.
f. Inyi Coal Block;
These coal blocks are yet to be privatised.
This Coal block was determined as green field
and was returned to the Mining Cadastre Office (MCO) in 2014
Bricks & Clay Company Ltd, Jos ,Plateau State;
Bricks & Clay Products Ltd, Maiduguri, Borno State;
Company Limited (NTL), Gurum, Jos, Plateau State;
e. Gano Quarry, Kano; and
Quarry, Bauchi State
The unit also oversees the sale of the NMC
residential/commercial houses and plots of land located in Jos, Plateau and
Madalla, Niger States respectively.
a. Ajaokuta Steel Company (ASCL) / National Iron Ore
Mining Company (NIOMCO)
Following the termination in 2007 of a 10
–year Concession Agreement for ASCL and NIOMCO that was signed with Global
Infrastructure Nigeria Limited (GINL) in 2004, under the direct supervision and
control of the then Federal Ministry of Power and Steel, an arbitration
challenge ensued when GINL went to the London International Chamber of Commerce
Arbitration (LICCA) Tribunal seeking redress against the revocation. The
Concession Agreement was to be revalidated as part of the Settlement Agreement
with GINL. Consequently, a Modified Concession Agreement (MCA) was signed in
2016 between GINL and FGN, transferring NIOMCO to GINL; thereby making ASCL
available to FGN for privatization.
Steel Company (DSC)
2005, the FGN privatized 80% of DSC’s equity to Global Infrastructure (Nigeria)
Limited (GINL)/Global Infrastructure Holdings Limited (GIHL). However, the
company has been sold to Premium Steel & Mines Limited (PSML) by the
Receiver/Manager on behalf of Asset Management Company of Nigeria (AMCON).
c. Aluminium Smelter Company of Nigeria of Nigeria
are currently legal issues on the sale of ALSCON and the ownership of ALSCON
between BFIG and RUSAL which are still unresolved.
Jos Steel Rolling Mill;
Katsina Steel Rolling Mill;
Oshogbo Steel Rolling Mill
The liabilities of the three-Inland Rolling
Mills informed the decision of the NCP to liquidate the companies through a
court-appointed liquidator process.