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    Lawmakers will resist plans to concession Ajaokuta Steel Plant - Speaker

    APA – Lagos (Nigeria)

    The Speaker of Nigeria’s House of Representatives, Mr. Yakubu Dogara, has said the National Assembly will resist any move for the concession of the Ajaokuta Steel Company Limited.

     Speaking when he led members of the House Committee on Steel to the Ajaokuta Steel Plant in Kogi State on Monday, Dogara said that the concession plan would amount to mortgaging Nigeria’s future.

    He noted that it is a collective shame to all leaders that the project has yet to be completed after so many years.

    Dogara said that the House would consult with stakeholders to work out ways to source for the $500 million needed to complete the last phase of the project.

    Local media reports on Tuesday said that the Speaker blamed the delay in the completion of the steel plant on lack of political will since getting the funds to complete it should not have been an issue.

    He noted that leadership problem was also responsible for the delay in completing the steel plant, saying that if there was competent leadership, how to get funds for such a multi-potential project should not be a problem.

    The Speaker commended the present government for showing direction by first ending a case for arbitration in a foreign jurisdiction.

    He explained that the steel company was critical to Nigerian economy in the forms of power and gas development, economic boost, creation of thousands of jobs, development of manufacturing sector, development of infrastructure and investor appeal, among others.

     According to him, running and managing the company can be given to private investors as concession after completion since the government is not a good manager of business enterprises.


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