Ajaokuta Steel: Youth leaders call for comprehensive probe, presidential intervention

On Friday, August 16, the Nigeria Ethnic Nationalities Youth Leaders Council Worldwide (NENYLCW) called for a comprehensive investigation into the persistent issues facing the Ajaokuta Steel Company.

This demand was made during a press conference in Abuja, which was attended by representatives from various ethnic youth groups across the country.

The youth leaders expressed their frustration with the ongoing setbacks experienced by the Ajaokuta Steel Company, despite numerous attempts by past administrations to revive this vital national asset. They highlighted issues such as economic sabotage, lack of transparency in contract agreements, and irregular employment practices that have plagued the company for years.

The group welcomed the Nigerian Senate’s decision to investigate the steel company last year. They praised the Senate for establishing an ad-hoc committee to address the situation but urged the committee to carry out a thorough investigation to ensure a meaningful resolution.

“We were pleased to see the Nigerian Senate’s intent to investigate this important national asset,” the youth leaders stated. “We appreciate that the Senate set up an ad-hoc committee to look into the matter but urge the committee to conduct a thorough investigation.”

They reiterated their readiness to contribute to the committee’s efforts by providing suggestions for the company’s revival. Their goal is to see Ajaokuta Steel Company operational and thriving once again.

The youth leaders also acknowledged the efforts of President Bola Ahmed Tinubu to promote economic growth through industrialization. They commended Senator Natasha Akpoti-Uduaghan and Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, for their dedication to revitalizing the steel company.

Despite these efforts, the youth leaders expressed deep concern over the current state of the Ajaokuta Steel Company, citing years of neglect and corruption. They emphasized the steel industry’s importance to national development, affecting sectors such as construction, manufacturing, and infrastructure.

In their statement, the youth leaders called on President Tinubu to address several critical issues urgently. They demanded an audit of the company’s workforce and payroll to ensure compliance with Federal Character principles. They also called for the replacement of the Sole Administrator with a Managing Director and a properly constituted Board, as well as a restructuring of management to include Project Managers and Directors for more effective operation.

Additionally, they urged the Independent Corrupt Practices Commission (ICPC) and the Economic and Financial Crimes Commission (EFCC) to investigate the company’s financial management over the past 20 years. The leaders emphasized the need for full transparency in partnership agreements, avoiding middlemen in the process. They also sought clarification on the role of Russian auditors currently in Ajaokuta, questioning whether their work is genuinely beneficial to the steel plant.

The youth leaders pledged to engage with relevant authorities to push for the revival of the Ajaokuta Steel Company within the next 12 months. They vowed to expose those hindering the company’s progress and hinted at potential national protests with student and civil society groups if necessary.