The Federal Government has appropriated the sum of N4.2bn to the Ajaokuta Steel Company Limited for the 2022 financial year, Checkout Magazine learnt.
The figure was contained in the 2022 budget details report obtained from the Budget Office.
According to PUNCH, the steel company had received a cumulative allocation of N20bn between 2015 and 2021 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.
Under personnel cost, the Federal Government allocated N3bn to salaries and wages while N924.6m was designated for allowance and social contributions.
It also revealed that the government planned to initiate new projects on the inactive establishment.
