Home Politics House of Reps approve reversal of Ajaokuta privatization

House of Reps approve reversal of Ajaokuta privatization


The House of Representatives has asked the Federal Government to cancel the privatization of the Ajaokuta Steel Company Limited and revive it with the loot recovered from a former military dictator, the late Gen. Sani Abacha.

Also, the lower chamber of the National Assembly asked the Economic and Financial Crimes Commission to investigate and prosecute owners of the privatized company, asking the Federal Government to bar them from further conducting businesses in Nigeria.

READ MORE:  Fayemi Defects as APC, PDP payed voters Cash.

[the_ad id=”4581″]

These were part of the recommendations in the report by the House’s Ad Hoc Committee on Ajaokuta Steel Company Limited on the failure of the Ajaokuta Steel Company to commence operations since inception.

The lawmakers unanimously adopted the report at the plenary on Thursday.

They asked the Federal Government to “demonstrate a strong political will, just like the United States President did recently in the steel sector, to resuscitate the Ajaokuta Integrated Steel plant by direct sourcing and disbursement of about $2bn needed to revamp and complete the 2 per cent external aspects of the integrated project.”

READ MORE:  We can’t meet ASUU’s demands now — FG

This, the lawmakers said should be done along with the revival of the Ajaokuta Steel Company and the National Iron Ore Manufacturing Company, Itakpe, completing the various external rail track system and access roads linkages, as well as the development and optimal functioning of the various mining sites for steady supply of raw materials.

READ MORE:  Today should elicit feelings of joy from all but present Government systematically hounds opposition to jail -Hon Lado says

According to them, this will guarantee an uninterrupted steel production when the blast furnace would be started.


Please enter your comment!
Please enter your name here