The House of Representatives Committee on Steel Development says it will review all audit reports on the Ajaokuta Steel Company to ensure a comprehensive legislative process for its revival.
The committee’s Chairman, Zainab Gimba, emphasised the importance of examining past evaluations, including those from former President Olusegun Obasanjo’s administration, to guide the revitalisation efforts.
Gimba spoke on Thursday when she led members of the committee on an oversight visit to the Ministry of Steel Development, The Nations reports.
Meanwhile, Minister of Steel Development, Mohammed Audu, reassured the lawmakers that while independent assessments have been conducted, the government’s procurement process remains transparent and thorough.
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Gimba said, “I would like you also make the clarification that the House, under its legislative process is focusing on taking a critical look at all audit reports on Ajaokuta Steel Company.
“We are accessing all past reports, especially those carried out under former President Obasanjo and by the Nigeria Society of Engineers. We are discussing with them to see what is there, to know where we are, and to see what is going to happen.
“The House cannot go out of the process to see Ajaokuta revived. We are discussing with the ministry to see what they are doing towards reviving Ajaokuta and we are here to see that legislative processes have been followed and adhered to.”
Speaking on the visit, Gimba said “We have heard their challenges. We know that one of the major focuses of this government is to develop the steel sector.
“The steel sector is expected to take over from the only sector given the fact that oil is getting exhausted. You know the efforts of the President in his renewed hope agenda is to develop a steel sector that is viable and will bring a lot of fortune to Nigerians. We are particularly optimistic about efforts to revive Ajaokuta Steel Company and the entire steel sector.”
In his remarks, the steel development minister refuted claims that the ministry had violated procurement procedures by permitting a Russian company to conduct an audit of the complex before completing the official processes.
He emphasised that the complex is open to any interested party for auditing, with no cost incurred by the government.
He said, “People go to Ajaokuta to do a rapid assessment from time to time. Ajaokuta is a public asset. Some people want to pitch for their ability to provide financing for the government and they will go and do their rapid assessment at their own cost to assess the status of the place.
“That is entirely different from m what we are doing with the procurement process.
“The procurement process is where the government will carry out its own technical and financial audit to access the entire plant and the entire supply chain to be able to decide and have its report so that when someone comes from outside and says X, you have your report that says Y.”
He added that the House Committee’s commitment to transforming the steel sector in the country, in line with the renewed agenda, has been clearly demonstrated.
“To turn around a steel sector that has been comatose for over four decades is not a child’s play. The House Committee has shown dedication and a lot of desire to work with the Ministry and the President to develop the sector.”
News explained that the Ajaokuta Steel Complex, located in Kogi State, Nigeria, is one of the largest steel production facilities in Africa.
Established to boost Nigeria’s industrial capacity and reduce reliance on imported steel, the complex was designed to support the country’s infrastructural development.
Construction began in the late 1970s intending to create a self-sustaining steel industry capable of producing a range of steel products.
Despite its significant potential, the complex has faced numerous challenges, including delays, technical issues, and financial constraints, which have hindered its full operational capacity.
The Ajaokuta Steel Complex remains a focal point in discussions about Nigeria’s industrialization and economic development strategies.