Last year, the Minister of Mines and Steel Development, Olamilekan Adegbite, said 11 foreign companies indicated interest in the take over of Ajaokuta steel company on a concession basis.
A Civil Society Organisation, Social Integrity Network (SINET), has called on Economic and Financial Crime Commission (EFCC) and Independent Corrupt Practices and Other Offences Commission (ICPC) to stop the process of handing over the Ajaokuta Steel company to private investors.
The National Coordinator of SINET, Ibrahim Issah, made the call in a communique issued at the end of its meeting in Jos, Plateau State on Monday.
Last year, the Minister of Mines and Steel Development, Olamilekan Adegbite, said 11 foreign companies indicated interest in the take over of Ajaokuta steel company on a concession basis.
The minister also assured that the Buhari administration will ensure that it handed over the company to a competent bidder before handing over to the next government.
But, the National Coordinator of SINET claimed that it is dangerous for the Nigerian government to handover the steel company to private companies.
He said handing over the steel company to private companies would move the economy of the country backward.
"There is a need for the leadership of the National Assembly, Civil Society Organisations, Independent Corrupt Practices Commission, (ICPC) Bureau of Public Enterprises, (BPE), and Economic and Financial Crimes Commission, (EFCC) to quickly intervene and order immediate reversal of the process in the interest of over 200 million Nigerians. Failure to do this is tantamount to the fact that Nigeria is sitting on the keg of gunpowder and only waiting to explode.
"Its explosion will no doubt set the economy of Nigeria backward geometrically and further create some unforeseen consequential repercussions for the incoming administration amidst numerous campaign promises, high determination to deliver as well as high expectations from the electorates" he said.
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Mr Issah also urged the Senate President, Ahmad Lawan, to set up a committee that will look into the handing over of the steel company to private companies.
He further urged the senate president to ensure that the concession of the steel company and the National Iron Ore company, Itakpe, be subjected to thorough legislative processes and contributions from major stakeholders such as the Manufacturers of Association of Nigeria (MAN).
