Aiming for a comprehensive legislative process to revive the Ajaokuta Steel Company, the House of Representatives Committee on Steel Development will scrutinize all audit reports, including those from the tenure of former President Olusegun Obasanjo, as emphasized by the committee’s Chairperson, Zainab Gimba.
Gimba, during an oversight visit with committee members to the Ministry of Steel Development, highlighted the importance of assessing past evaluations to guide the revitalization efforts.
Minister of Steel Development, Mohammed Audu, assured lawmakers that despite independent assessments, the government’s procurement process maintains transparency and thoroughness.
Gimba expressed, “The House, within its legislative process, is focused on a detailed review of all audit reports on Ajaokuta Steel Company.
“We are currently examining past reports, especially those conducted under former President Obasanjo and the Nigeria Society of Engineers. Our discussions aim to assess the current status and future prospects.”
Gimba acknowledged the challenges faced by the government in revitalizing the steel sector, emphasizing the sector’s importance for Nigeria’s economic fortune with the diminishing oil sector.
Dismissing claims of procurement procedure violations, Minister Audu clarified that the government allows interested parties to audit Ajaokuta at their expense for rapid assessments, distinct from the official procurement process.
He explained, “Ajaokuta undergoes periodic rapid assessments by external parties interested in providing financing, at their own cost, separate from the official procurement evaluations.
“Our procurement process ensures a comprehensive technical and financial audit by the government to make informed decisions and have an official report for comparison.”
Committing to the sector’s transformation, Audu commended the House Committee’s dedication to aligning with the renewed agenda for the steel industry’s development in Nigeria.
Notably, the Ajaokuta Steel Complex in Kogi State is a pivotal steel production facility in Africa, established to boost Nigeria’s industrial capacity and reduce reliance on imported steel, supporting infrastructural development.
Despite challenges hindering its operational capacity, including delays and financial constraints, the complex, initiated in the late 1970s, signifies Nigeria’s industrialization and economic development strategies.