The Niger Delta Ethnic Nationalities Youth Leaders Council has called on the federal government to revive the Ajaokuta Steel Company to increase job opportunities for the country’s youth.
In a statement, President-General Comrade Terry Obieh highlighted concerns about the ongoing neglect of the steel plant, stressing that Nigerians cannot afford to overlook a project that has been dormant 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.
The council noted that the Ajaokuta Steel Company, which was established to drive industrialisation and economic development in Nigeria, has been plagued by extensive corruption, fund misappropriation, and delays in completing and operationalising the plant.
Concerns were raised about repeated contract renegotiations and cost overruns that have inflated expenses to over $8 billion with minimal progress.
“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,” the statement added.
It also mentioned allegations of job racketeering, kickbacks, inflated contracts, and fund diversion associated with the Ajaokuta project, noting that these issues have not been thoroughly investigated and that those responsible have not been held accountable.
The statement urged the federal government to uphold the Federal Executive Council’s decision from former President Umaru Yar’Adua’s administration to have the EFCC prosecute the consortium managing Ajaokuta Steel.
“The federal government should ignore the international arbitration on Ajaokuta Steel Company and order for the arrest of the owner of Global Steel Holdings Ltd for a contract scam that led to that arbitration,” it said. “All the big sharks in the Federal Ministry of Steel Development, Federal Ministry of Justice, and the Ajaokuta Steel Company, cooking the mischievous international consortia contract negotiations and agreements MUST be fished out and brought to justice,” the statement concluded.
