The Niger Delta Ethnic Nationalities Youth Leaders Council has urged the federal government to resuscitate the Ajaokuta Steel Company to create more jobs for youth in the country.
A statement by its President-General, Comrade Terry Obieh, expressed concerns about the persistent neglect of the company, stating Nigerians could not afford to close their eyes with the giant project lying waste for decades.
“We hereby call on the Federal Government of Nigeria and the Economic and Financial Crimes Commission (EFCC) to beam their eagle eyes on the longstanding records of corrupt practices, financial mismanagement, and lack of accountability at the Ajaokuta Steel Company in Kogi State,” the statement said.
It said the Ajaokuta Steel Company established to drive industrialization and economic development in Nigeria, had been plagued by massive corruption, misappropriation of funds and failure to complete construction and operationalize the plant.
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It said that some of its concerns include repeated contract renegotiations and cost overruns that has ballooned costs to over $8bn with little to show for the investments.
“There has been a severe lack of transparency in the management of funds and contracts related to Ajaokuta. Repeated attempts to uncover the details of spending and contracts have been met with stonewalling and obfuscation.
“There have been widespread allegations of job racketeering, kickbacks, inflated contracts, and diversion of funds meant for the Ajaokuta project over the years. However, these allegations have not been properly investigated, and the culprits have not been held accountable.”
It called on the federal government to reinforce the Federal Executive Council’s decision during the administration of former President Umaru Yar’Adua that the EFCC should prosecute the consortium handling the Ajaokuta Steel Company.
“The federal government should ignore the international arbitration on Ajaokuta Steel Company and order for the arrest of the owner of the Global Steel Holdings Ltd for a contract scam that led to that arbitration.
“All the big sharks in the Federal Ministry of Steel Development, Federal Ministry of Justice, and the Ajaokuta Steel Company, cooking the mischievious international consortia contract negotiations and agreements MUST be fished out and brought to justice,” the statement said.
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