Ajaokuta Steel Concession: Group Urges Senate to Halt Process

Kasim Sumaina in Abuja

A civil society group, the Social Integrity Network, (SINET), yesterday, questioned the role of the Minister of Mines and Steel Development in his move to concession the Ajaokuta Steel Company and Itakpe Iron Ore Company

The group noted that barely five weeks to the end of President Muhammadu Buhari-led administration, attempt by the federal government through the Ministry of Mines and Steel Development to commence process for the concession of Ajaokuta Steel Company Limited and Itakpe Iron Ore Company called for concerns intervention by the general public.

The group therefore appealed to the Senate President, Dr. Ahmad Lawan, to urgently constitute a committee of enquiry and ensure that the process was halted, reversed and handed over to the incoming administration for proper scrutiny and consideration with national interest.

They stated this at an emergency meeting held in Jos, the Plateau State capital, in reaction to some newspaper advertisements calling for request for qualification for the concession of the two companies.

SINET National Coordinator, Ibrahim Issah, noted that concession of National Heritages such as National Iron Ore Company Limited, Itakpe and Ajaokuta Steel Company Limited should be subjected to thorough Legislative Processes and Contributions from major stakeholders such as the Manufacturers of Association of Nigeria (MAN) with considerable time frame.

The group added: “There is need for the leadership of the National Assembly, civil society organisations, the Independent Corrupt Practices Commission, (ICPC) Bureau of Public Enterprises, (BPE), Economic and Financial Crimes Commission, (EFCC) to quickly intervene and order immediate reversal of the process in the interest of over 200 million Nigerians.

“Failure to do this is tantamount to the fact that Nigeria is sitting on the keg of gunpowder and only waiting to explode.

“Its explosion will no doubt set the economy of Nigeria backward geometrically and further create some unforeseen consequential repercussions for the incoming administration amidst numerous campaign promises, high determination to deliver as well as high expectations from the electorates.”

Speaking further SINET commended the federal government for settling the long-standing contractual dispute with a foreign investor group in the steel industry, by securing a reduction of a the claim of the sum $5.258 billion to $496 million, “owing to the mistake which was made by the federal government by dashing away Delta Steel Company which was one her best National Steel Heritage to a foreign investor without any success story till date, thereby laying fallow.

“Delta Steel Company which is supposed to generate employment opportunities for Nigerians and create more economic fortunes to entrepreneurs is still left redundant even after many years of its outright sale-off.”