Reps to FG: Use Abacha loot to complete Ajaokuta Steel

…seeks revocation of concession to Global Infrastructure

The House of Representatives yesterday asked the Federal Government to annul the concession of Ajaokuta Steel Company to Global Infrastructure Nigeria Limited (GINL) even as it urged the Economic and Financial Crimes Commission (EFCC) to prosecute the management of the com-pany for economic sabotage.

The House also requested President Muhammadu Buhari to channel recovered looted funds from the family of late Head of State, Gen. Sani Abacha to supplement the funding for the completion of the company. These resolutions were arrived at following the consideration and approval of the recommendations of the ad hoc committee that investigated the failure of Ajaokuta Steel Company to commence operations since its inception. In adopting the recommendations, the House, presided over by Speaker Yakubu Dogara, urged the Federal Government to demonstrate a political will to resuscitate the Ajaokuta Steel Company by disbursing the $2 billion needed to complete the two per cent of the external components of the project, which includes completing the external rail track system, access road linkages, and mining sites, among others. The lower chamber wants the government to terminate the reconcession agreement signed with GINL on August 1, 2016 and re-engage the original builders of the complex, TPE of Russia to complete the project. According to the House, both the GINL and “all indicted local collaborators should be made to pay damages to the host communities that suffered loss of lives when the company used brutal force against the workers, who tried to stop the company from stripping and vandalising the assets of the concessioned plants.” The House added that GINL and its associates be banned from further doing any business in the country, “as its track record has been marred by duplicity and fraud.”

The House also urged the Federal Government not to think of concessioning or reconcessioning steel companies in the country, as there are capable hands in the country to manage the companies under the control of the government, if the companies are properly funded. Part of the recommendations of the committee includes:

“That the company, Global Infrastructures Nigeria Ltd., and its associates be banned from further doing any business in Nigeria as its track record has been marred by duplicity and fraud; “That accelerated legislative work must be done by both chambers of the National Assembly to ensure that both the Ajaokuta Steel Company and the National Iron Ore Manufacturing Company, Itakpe, are removed from the privatization list; “That both the company, Global Infrastructures Nigeria Ltd. and all indicted local collaborators should be made to pay damages to the host communities that suffered loss of lives when the company used brutal force against the workers (most of whom were community youths) who tried to stop the company from stripping and vandalizing the assets of the concessioned plants; “That the Federal Government should revive relations with the original builders of the company (TPE of Russia) towards wooing them back to continue and complete the work they started alongside the current management team of indigenous sole administrators who have shown expertise and practical knowledge in the integrated steel plants management and production.”