Civil Society Organisation and relevant stakeholders have faulted the Federal Government concession plan of Ajaokuta Steel Company and Itakoe Iron Ore Company withou at recourse to the National Assembly.
The Social Integrity Network (SINET) at an emegergecy meeting on Monday said the moves called national concern, worries and immediate intervention by the general public noting its adverse effect on the economy of the nation.
SINET, in its reaction to the FG plan alleged the Minister for Mines and Steel Development, Arch Olamilekan Adegbite of plan to subject the people to an untold hardship.
SINET National Coordinator, Ibrahim Issah, noted that concession of national heritages such as National Iron Ore Company Limited, Itakpe and Ajaokuta Steel Company Limited should be subjected to thorough legislative processes and contributions from major stakeholders such as the Manufacturers of Association of Nigeria (MAN) with considerable time frame.
“The group is also worried why the President Muhammadu-led government is stampeding the entire process when it has only about 34 days to handover leadership to a newly democratically elected government of Asiwaju Bola Ahmed Tinubu stressing the outgoing government should be sensitive to the fact that adequate time is required for genuine participation for equity, fairness and justice to Nigerians.
“There is a need for the leadership of the National Assembly, Civil Society Organizations, Independent Corrupt Practices Commission (ICPC) Bureau of Public Enterprises (BPE), and Economic and Financial Crimes Commission (EFCC) to quickly intervene and order immediate reversal of the process in the interest of over 200million Nigerians.
“Failure to do this is tantamount to the fact that Nigeria is sitting on the keg of gunpowder and only waiting to explode.”Its explosion will no doubt set the economy of Nigeria backward geometrically and further create some unforeseen consequential repercussions for the incoming administration amidst numerous campaign promises, high determination to deliver as well as high expectations from the electorates.”
Speaking further SINET commended the Federal Government for settling the long-standing contractual dispute with a foreign investor group in the steel industry, by securing a reduction of blackmailing claim of the sum $5.258 billion to $496 million “owing to the mistake which was made by the Federal Government by dashing away Delta Steel Company which was one her best National Steel Heritage to a foreign investor without any success story till date, thereby laying fallow.“Delta Steel Company which is supposed to generate employment opportunities for Nigerians and create more economic fortunes to entrepreneurs is still left redundant even after many years of its outright sale-off.”
The group, therefore, appealed to the Nigeria’s Senate President, Ahmad Lawan, to urgently constitute a committee of enquiry and ensure that the process is halted, reversed and handed over to the incoming administration for proper scrutiny and consideration with national interest.
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