Yekini Jimoh, Author at Tribune Online

The Chairman of the Iron and Steel Senior Staff Association of Nigeria (ISSSAN), Comrade Ibrahim Audu Abdurrahman, has stated that since the signing of a memorandum of understanding (M0U) with the Russian Government and the subsequent three-week technical audit conducted on the Ajaokuta Iron and Steel Complex, there has been no progress report from the Federal Government. In a press statement issued on Monday and made available to newsmen in Lokoja, he questioned the reasons behind the sudden delay in the revitalization of Ajaokuta Steel Company Limited. His words, "Although, the recent press released granted by Hon. Minister of Steel Development made mention of "PRIVATIZATION" which triggered my utmost concern to downpour my mixed feelings if paradventure I can comprehend and digest the sudden diversion of previous conceptualization on Ajaokuta Steel Plant Nationalization process "However, if Federal government decide to privatize Ajaokuta Steel Company verily it's not a bad idea but PRIVATIZATION should be defined at its apparent terms and conditions for the betterment of our dear Nation. Well, it is not far-fetched from the fact that privatization is practiced by developed countries. But the question now is; are we developed or underdeveloped? "For clarity sake, I will like to enlight the general public what privatization is all about, Privatization is one of the strategies employed by the government in the period under review to revamp the Steel project. Privatization as a strategy for economic management was given momentum after chile's successful return of public assets to the private sector operators in the early 1970s. "Consequently, the new economic paradigm aimed at shifting function and responsibilities in whole or in part from government to private sector became the order of the day. The objective was for more efficient management of the economy devoid of government interference. This conception seems to be the driving force that made many government to imbibe the idea in every field of economic activity, including iron and steel industry. Hmmm... but are we developed to practice this method? ALSO READ: Police Trust Fund begins construction of modern divisional station in Kogi "In the developed countries however, where the economy is privately driven, the government institute regulatory framework and control mechanism for each private sector operation. More so, the strategic sector economic activity in such countries is initially wholly government driven. It is only after attaining satisfactory level of proficiency and performance that the private sector is invited to participate, in developing specific sector in the economy, having been given due encouragement and incentives. The union commended the effort of President Bola Ahmed Tinubu, his eminent cabinet and the workaholic National Assembly members for their steadfastness in developing the country of our dream. The union also acknowledge the Hon. Minister of Steel Development, Hon. Prince Audu Abubakar Shaibu for his unwavering support and his consistency for revitalization of Ajaokuta Steel Company Limited. "Perhaps, no doubt our very own the Acting Solad of Ajaokuta Steel Company Limited, the person of Engr. Jokan is a visionalist in progress and development strategist for the revitalization process. The union therefore urge the Federal government to think twice before absolute conclusion can be made. READ MORE FROM: NIGERIAN TRIBUNE