Categories: NEWS

Senate Ad-hoc Committee Revives Ajaokuta Steel Plant, Others

Chairman of Senate ad hoc committee has revived activities at Ajaokuta Steel Company Limited and the National Iron Ore Mining Company, Itakpe.

The committee, led by Senator Adeniyi Adegbonmire, made this statement on Wednesday during a meeting with the workers and management of the company.

The committee is here at the steel plant with a firm commitment to uncover why the Ajaokuta steel plant remains non-operational, decades after its establishment. Our visit is aimed at gaining an understanding of the situation and gathering first-hand information. Our mission is to break the jinx and ensure the steel plant becomes operational,” Adegbonmire declared.

In his welcome address, the acting Chief Executive of the company, Kanwai Joseph, expressed gratitude for the committee’s interest in the company. He remarked, “We recognise the trust placed in us to manage national assets such as this steel plant, and we are committed to transparency and accountability. Although the plant has not been in production, we strive to operate with integrity, preserve this significant government investment, and deliver quality products when in operation.

“We understand that allegations of corruption and inefficiency are serious concerns. We assure you of our full cooperation during this investigation. You will have unrestricted access to our facilities and information, and our team is prepared to address any questions or concerns to ensure a thorough and impartial investigation. We will begin by providing an overview of the company’s past, its current state, and the reasons for the present situation.”

Sponsored

The Ajaokuta Integrated Steel Complex, conceived in 1979, was designed to include a metallurgical process plant, an engineering complex, and various auxiliary facilities. The project was envisioned to stimulate vital upstream and downstream industrial and economic activities, critical for diversifying the economy towards industrialisation.

However, in August 2024, the Federal Government paid workers of the dormant steel company N38.9 billion in salaries and allowances over a 10-year period, despite the company’s inability to produce a single sheet of steel since its inception.

In September 2024, the Federal Government, through the Minister of Steel Development, Shuaibu Audu, signed a Memorandum of Understanding with the builders of the Ajaokuta steel plant, Messrs Tyazhpromexport, for the rehabilitation, completion, and operation of the plant and the National Iron Ore Mining Company.

SPONSORED
Victor Alade

Recent Posts

IPMAN Announces Petrol Price Reduction To ₦935 Per Litre

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has announced a significant reduction in the…

32 minutes ago

Governor Otti Appoints Ojeikere As New Head Of Service

Governor of Abia State, Dr. Alex Otti has approved the appointment of Mr. Benson Ojeikere…

48 minutes ago

Tinubu’s Economic Reforms Not Responsible For Hunger, Stampede — FG

The Minister of Information and National Orientation, Mohammed Idris, has warned politicians against linking stampedes…

9 hours ago

Ohafia Community In Mourning As Trailer Crushes Many Christmas Travelers To Death (Photos, Video)

Ohafia, Abia State, was plunged into mourning on Sunday following a tragic accident involving a…

9 hours ago

After 25 Years, Democracy Yet To Meet Citizen’s Expectations — Bugaje

An Islamic scholar and political activist, Dr. Usman Bugaje, has highlighted the inability of the…

15 hours ago

Tinubu’s 2025 Budget Full Of Unrealistic Expectations, Says SDP’s Adebayo

The presidential candidate of the Social Democratic Party (SDP) in the 2023 general elections, Prince…

17 hours ago