Experts who converged at the sectoral debate held at the instance of the leadership of House of Representatives on the resuscitation of Ajaokuta Steel company limited (ASCL), alleged that the recalcitrant attitude of Federal Government has stalled the $1.5 billion loan facility offered by a US company.
In his presentation, David Oherukor, Diamond Gold Global Consult who disclosed this on the floor of the House, informed the House that total sum of $1.36 billion will be required to complete Ajaokuta Steel company.
According to him, the loan has 20 years repayment period and 2% interest rate per annum.
He however noted that the consultancy firm could not sign the agreement with the US company until Nigeria is ready.
Oherukor who opposed Federal Government’s hard stance to concession Ajaokuta Steel, explained that between $400 million and $500 million was required to complete Ajaokuta Steel company, based on the due diligence conducted by the firm and Russian company which built Ajaokuta Steel company as at 2017.
Going by the series of indicting information provided by the experts and other stakeholders, the House resolved to set up an Ad-hoc Committee that will investigate series of allegations bothering on misappropriation and asset stripping at the Ajaokuta Steel company.
The lawmakers who spoke during the session which lasted for over four hours, frowned against the Ministers’ insistence to embark on concessioning of the company, despite recommendations of experts’ positions.
On her part, Hadiza Akpoti, Philanthropist/Activists who was also invited by the House, urged the present administration to ensure that Economic and Financial Crimes Commission (EFCC) to re-open the litigation on asset stripping with the view to get justice for Nigeria.
On his part, Sanusi Mohammed, who described Ajaokuta Steel company as a fantastic industrial complex, stressed the need for President Muhammadu Buhari to demonstrate sufficient political will to visit the company before acceding to the counsel of his aides.
He specifically expressed disgust over the inability of successive administrations to take decisive actions in resuscitating Ajaokuta Steel company, despite series of visit to the complex.
While stressing the need to ensure provision of requisite infrastructure from Itakpe Iron and Ore that will link Ajaokuta, Mohammed alleged that the Indians who managed the concessioning embarked on asset stripping and invited Nigerian Police officers who killed 40 people in the evacuation process.
In his short presentation, Issa Aremu, who represented Ayuba Wabba, President of Nigeria Labour Congress (NLC) commended the Speaker on the working visit to Ajaokuta Steel company.
He explained that Nigeria does need to approve resources for the refineries without evaluating the on and steel sector has potential for massive employment generation
Aremu who expressed concern over Federal Government’s insincerity towards achieving industrialization of Nigeria as encapsulated in the vision 20:2020 policy document, noted that Nigeria ought to be a productive economy not a debating economy.
He lamented that Nigerian has wasted over 35 productive year due to lackadaisical attitude of the successive administrations.
While calling on the present administration to declare emergency in the steel sector, Aremu urged that budgetary allocation is adequate to resuscitate the industry.
Also speaking, David Esezebor, who represented the President of Nigerian Society of Engineers (NSE) noted that the steel sector remains a strategic sector because of the multiplier effects of the sector as highest employer of labour, energy generation and others.
While noting that the development of this sector requires comprehensive efforts, he maintained that recent calls to change the exiting technology will be inappropriate considering the level of achievements recorded so far.
He maintained that the development strategy rolled out by the Ministry was done without the inputs of experts in the sector, adding that the proposed concessioning or privatisation of Ajaokuta Steel company will be counter productive, just as he stressed the need to invite the firms that built the facility for some years before handing over to Nigeria.
He also proposed unbundling of the company with the view to enable the already completed 40 components to run effectively.
As a matter of national policy, he urged Federal Government to re-constitute the non-core ministerial supervision team that will draft policy on steel development sector, comprising of experts.
He also harped on the need to conduct technical audit of Ajaokuta Steel company, as well as constitute a broad-based stakeholders committee should be set up to forge a new framework for the steel sector.
Meanwhile, some of the lawmakers who spoke during the sectoral debate, called on the Speaker to sanction the ministers to serve as deterrent to others, who would want to take the Parliament for granted.
The lawmakers said that the sectoral debate has nothing to do with politics, but the interest of the nation.
Speaking earlier, Femi Gbajabiamila, Majority Leader who moved a motion that the House transit from sectoral debate to investigative hearing, argued that boycotting the sectoral debate was an affront against the Parliament, considering the previous political offices held by Kayode Fayemi, as a former Governor and Bawa Bwari, as former Minority Leader in the House of Representatives in the seventh assembly.
In his submission, Alhassan Ado Dogowa, Majority Ehip, urged the Speaker to take decisive action against the erring Ministers, as their absence was suspicious, lamenting that the President appointed ministers, who are insensitive to the plight of the nation.
On his part, Yakubu Barde, Minority Deputy Leader said: “Mr. Speaker the ministers refused to obey your letter of invitation, you can imagine what chairmen of committees are going through whenever we invite these government officials. This is APC ministers not respecting APC lawmakers. Action must be taken.”
While speaking, Mohammed Umar Bago (APC-Niger) frowned at the unneccessary romance with government officials allegedly encourages disobedience, the lawmaker said such will never happen in the Senate.
“We have been so lenient and magnanimous. Let us draw the line from today, they have crossed the red line.”
Similarly, Uzoma Nkem-Abonta (PDP-Abia) frowned at the display of executive rascality,urged the House should declare vote of no confidence and incompetence on the Ministers.
He said: “There is deplay of executive rascality, for a minister to decline lawmakers’ invitation.
There should be a sanction for these ministers before we drawn the line. We should declare vote of no confidence and incompetence on them. They are not performing. How can a nation grow without steel. Mr. Speaker, I think you should arrest the Minister.”
In his short remarks, Zakari Mohammed (APC-Kwara), who called on the House to withhold the Ministry’s budget, said: “the only way we can check this people is not to look at their budget. We will not look at their budget until they honour our invitation. We can declare them arrested. There is conspiracy of silence. We must investigate them.”
While ruling, Speaker Yakubu Dogara feonwrd at the absence of Abdul-Akaba Sumaila, Sole Administrator of Ajaokuta steel company, alleged that “it appear this is a total boycott.”
He warned that “apart from the President and the Vice, there’s no other single official that was elected in the Executive. And the entire members of the Parliament are elected representatives of the people, but if they think they can continue to engage us like this, then good luck to them.”
Speaker Dogara who gave vivid account of his working visit to Ajaokuta Steel company located in Kogi state, penultimate week said: “I visited the Ajaokuta Steel Complex in company of members of the House Committee on Steel. I dare say that the visit was an eye opener.”
Dogara who decried the deplorable condition of the company, argued that it was “a collective shame of the nation, adding, “the present state of Ajaokuta steel complex is more of an expressive metaphor of our ineptitude and bad governance over the years.
“I want you to imagine what would be the outcome today if we had completed this plant 34 years ago as originally planned. Also imagine if there is any nation on this earth that will sink more than $5.1 billion of its hard earned money on any project and walk away from it when it is 98% completed. Could this be national sabotage or have we been bewitched by some powerful sorcerers? Just imagine how much it will cost if we were to undertake such a project afresh, either now or in the foreseeable future.”
KEHINDE AKINTOLA, Abuja
