A member of House of Representatives, Hon A.K Saliu has called on President Umaru Musa Yar'Adua to investigate the sale of Ajaokuta Steel Company by his predecessor, former president Olusegun Obasanjo.The lawmaker representing Okehi/Adavi federal constituency (Kogi State) made the call while speaking with newsmen in Abuja recently.
"Two years after the federal government sold the Ajaokuta Steel Company to Global Infrastructure Holding Limited (GHIL), the fortunes of the company have dwindled", he said.
He stated that the concession was not a good decision by the federal government as none of the conditions reached with the Indian Firm had been met, adding that GHIL was only interested in the financial aspect of the whole arrangement.
He further disclosed that the plant was under-priced while the amount committed by the federal government into the project was not properly evaluated.
He, however, said that the agreement to manage the plant by GHIL for 10 years was defective and only in favour of GHIL.
In his words, "The GHIL has taken undue advantage of the government by diverting the company's property, dismissing the staff and also vandalising equipment contrary to the agreements signed in terms of operating the plant.
"Based on the above reasons, the House of Representatives has resolved to probe the sale of Ajaokuta Steel Company" he added.
"Two years after the federal government sold the Ajaokuta Steel Company to Global Infrastructure Holding Limited (GHIL), the fortunes of the company have dwindled", he said.
He stated that the concession was not a good decision by the federal government as none of the conditions reached with the Indian Firm had been met, adding that GHIL was only interested in the financial aspect of the whole arrangement.
He further disclosed that the plant was under-priced while the amount committed by the federal government into the project was not properly evaluated.
He, however, said that the agreement to manage the plant by GHIL for 10 years was defective and only in favour of GHIL.
In his words, "The GHIL has taken undue advantage of the government by diverting the company's property, dismissing the staff and also vandalising equipment contrary to the agreements signed in terms of operating the plant.
"Based on the above reasons, the House of Representatives has resolved to probe the sale of Ajaokuta Steel Company" he added.
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