The Senate Ad-hoc Committee investigating the operations at Ajaokuta Steel Company Limited as well as the National Iron Ore Mining Company, Itakpe, both in Kogi State has vowed to uncover reasons the Ajaokuta Steel Plant has not been operating several decades after its establishment.
The Committee, however, expressed commitment to ensuring revitalisation of the facility and make it operational.
The committee, led by Senator Adeniyi Adegbonmire, stated this on Wednesday during a meeting with the workers and management of the company.
“The committee is here at the steel plant with a firm commitment to uncover why the Ajaokuta Steel Plant remains non-operational, decades after its establishment. Our visit is aimed at gaining an understanding of the situation and gathering first-hand information. Our mission is to break the jinx and ensure the steel plant becomes operational,” Adegbonmire stressed.
The Acting Chief Executive of the company, Kanwai Joseph, who lauded the Committee’s interest in the company, also expressed its commitment to transparency, accountability and integrity with a view to preserving the investment to be able to offer quality products and service when it becomes operational.
He also assured the Committee of unreserved cooperation during the investigation.
“We recognise the trust placed in us to manage national assets such as this steel plant, and we are committed to transparency and accountability. Although the plant has not been in production, we strive to operate with integrity, preserve this significant government investment, and deliver quality products when in operation.
“We understand that allegations of corruption and inefficiency are serious concerns. We assure you of our full cooperation during this investigation. You will have unrestricted access to our facilities and information, and our team is prepared to address any questions or concerns to ensure a thorough and impartial investigation. We will begin by providing an overview of the company’s past, its current state, and the reasons for the present situation.”
Recall that the Ajaokuta Integrated Steel Complex, conceived in 1979, was designed to include a Metallurgical Process Plant, an Engineering Complex, and various auxiliary facilities. The project was envisioned to stimulate vital upstream and downstream industrial and economic activities, critical for diversifying the economy towards industrialisation.
However, in August 2024, the Federal Government paid workers of the dormant steel company N38.9 billion in salaries and allowances over a 10-year period, despite the company’s inability to produce a single sheet of steel since its inception