Dogara, Bello ask Buhari to inject stolen funds into Ajaokuta steel

Yakubu Dogara, Speaker House of Representatives and Governor Yahaya Bello of Kogi State on Monday urged President Muhammadu Buhari to inject a fraction of the recovered stolen funds to resuscitate the comatose Ajaokuta Steel Company Limited (ASCL).

Dogara who spoke during a working visit to Ajaokuta Steel Company, urged Federal Government to jettison concessioning of the company considering the failure of previous exercises initiated by past administrations.

Out of the 43 sections of the company inspected include: water intake, come storage, burden bins, sinter storage, water recirculation pump house, turbo blower station, transmission substation, oxygen plant, bloom stockyard, 900/630MM billet mill, 700MM medium sections and structural mill, 150MM continuous wire-rod mill, 320MM light sections and bar mill, main step-down substation, tar-bonded dolomite refractories plant, finished products stockyard, repair shops complex, forge and steel work fabrication shops, mechanical repair, heat treatment and hard-surfacing shops.

Recall that Ibrahim Magu, acting Chairman, Economic and Financial Crimes Commission (EFCC) who spoke during the 2017/2018 budget defence held at the imstance of House Committee on Financial Crimes, penultimate week, confirmed the recovery of N867 billion; $66.258 million and €13.847 million; GBP 294,851.82; Dirha 443,400 and 70,500 South African Rand from some former political office holders and others in 2017.

Dogara who differed with the position of some political office holders that government does not have the required fund to revamp Ajaokuta Steel Company, however noted that solutions to most national challenges requires leadership and political will than funding.

While pledging all the required legislative support to revamp the company through provision of adequate funding, the Speaker disclosed that the House will invite Custodians of Sovereign Wealth Fund, acting Chairman of Economic and Finandial Crimes Commission and Excess Crude Account to the next edition of sectoral debate with the view to secure funding for the project.

While applauding President Buhari for the efforts made towards exiting all arbitration stalling the project, he noted that: “It is to our collective shame that we have not put this factory to use in view of the promise for the development of this country.

“For some years, the plan was docked by legal arbitration till 2016, but through the leadership provided by this administration, all that is a thing of the past.

“As we promised, we are here because of Ajaokuta steel company. We all know the benefits of steel development towars the industrialistion of any country.

“Immediately we put this company into operation, we will provide 10,000 employments for engineers aside from non-engineering employments, estimated at two million jobs,” Dogara opined.

The Speaker who applauded the resilience of Ajaokuta people who resisted moves by the concessionaires who attempts to steal some of the assets within the company premises, said: “to be candied, we have no reason not to have completed this project. You can’t afford to concession your future. I’m yet to see a nation that ever concession the bedrock of industrialisation…

“If we keep repeating the same mistakes then we are foolish, in fact, that’s the meaning of stupidity; but we will not repeat that mistake.

“No more to concessioning. We are tired of concessioning of our commonwealth, we are tired of concessioning Ajaokuta to asset strippers.”

In his remarks, Bawa Bwari, Minister of State for Solid Minerals who aligned with the Speaker’s position, expressed optimism that the company will soon receive the required attention from both Executive and Legislative arms of government.

“It is realizable with the array of personalities here today. We pray that very soon we shall smile again. Wherever the money is, we will get the money and we are sure the sun will shine again.”

On his part, Governor Yahaya Bello of Kogi state, expressed optimism that the sum of $500 million out of the total recovered funds from an individual is sufficient to revamp Ajaokuta.

According to him, a fraction of the funds is required to restore to fortune of the company which has capacity to employ over 10,000 engineers and create about two million ancillary employments.

Bello who spoke while receiving Speaker Yakubu Dogara and other members of the House of Representatives at the Lord Lugard House, Lokoja, tasked the Presidency and National Assembly on the need to demonstrate sufficient political will to revive the company.

The Governor who aligned with Speaker Dogara’s submission on the need to provide leadership, said: “I agree with you that funds should not be a problem why Federal Government should not complete Ajaokuta company.”

While applauding the leadership of House for embarking on the fact-finding oversight visit to Ajaokuta Steel Company Limited, Bello urged Federal Government to expedite action in revitalizing the company without further delay.

He also tasked Federal Government to ensure full funding for the completion of the project rather than concession, adding that Ajaokuta Steel company remains the cradle of Nigeria’s industrialisation.

 

KEHINDE AKINTOLA, Abuja