Ajaokuta Steel Company: A National Heritage at Risk
The Social Integrity Network, also known as SINET, has expressed its concerns regarding the potential sale of the Ajaokuta Steel Rolling Mill to foreign investors. The group has emphasised the importance of preserving this national heritage and has called on the federal government to reconsider any transactions related to its revitalisation, particularly those that may be conducted through unofficial means.
In representation of SINET, national coordinator Ibrahim Issah has expressed his dismay at the prospect of selling off such a vital asset without taking into consideration the desires and needs of the Nigerian people. He has highlighted the nation’s history of missed opportunities and failed attempts at large-scale steel production, as well as the use of outdated technology supplied by foreign entities in the past.
Furthermore, SINET has expressed disappointment in the governance practices of the federal government and its relevant agencies, referring to a recent resolution by the National Assembly joint committee to investigate payments made to an Indian firm for the revitalisation of the Itakpe Iron Ore Company, which ultimately proved unsuccessful.
In light of these developments, Mr. Issah has argued that priority should be given to national companies capable of effectively managing these plants, generating employment, reducing imports, and conserving valuable foreign exchange and mineral resources. He has also highlighted the detrimental effects of allowing foreign companies to exploit Nigeria’s resources, citing a specific case in which a company was awarded damages by the government despite its failure to deliver on its contractual obligations.
The group has warned against entering into agreements with foreign entities that may have ulterior motives, especially those aimed at taking advantage of outdated technologies at Ajaokuta and Delta Steel Company. They have urged the federal government to thoroughly scrutinise any proposals put forth by such companies and to involve independent agencies and local business leaders in the decision-making process.
In conclusion, SINET has cautioned against making decisions that could jeopardise the nation’s assets and resources, and has called for a more transparent and cautious approach to any potential investments in Ajaokuta Steel Company and similar enterprises. Their message is clear: the protection of Nigeria’s national heritage should be the government’s top priority.
