Politics
Questions Arise Over ₦4.2 Billion Spent On Ajaokuta Steel With Fewer Than 10 Workers
Questions Arise Over ₦4.2 Billion Spent On Ajaokuta Steel With Fewer Than 10 Workers....KINDLY READ THE FULL STORY HERE▶
The Senate ad hoc committee investigating alleged corruption and inefficiency at Ajaokuta Steel Company Limited and the National Iron Ore Mining Company, spanning from 2002 to the present, has raised concerns over the company’s budget. During a recent hearing, the committee expressed astonishment that Ajaokuta Steel had allocated ₦4.2 billion in its 2024 budget for fewer than 10 employees…….. CONTINUE READING
The hearing included key representatives from the Ministry of Mines and Steel Development, the Central Bank of Nigeria, the Bureau of Public Enterprises (BPE), the Nigerian Society of Engineers, and the Steel and Engineering Union Workers of Nigeria. Senator Natasha Akpoti-Uduaghan, representing Kogi Central Senatorial District, led the inquiry and questioned the justification for the ₦4.2 billion allocated for personnel.
Akpoti-Uduaghan demanded clarification from Summaila Abdul Akaba, the sole administrator of the Steel Company, on how the allocated funds are being utilized given the small number of employees. She revealed that her unplanned visits to the site showed fewer than ten workers despite the large annual budget for personnel. She highlighted that no steel had been produced or mills rolled despite the substantial personnel costs.
Akpoti-Uduaghan, a local resident deeply invested in the company’s revival, expressed frustration, stating, “I visited the site multiple times and observed fewer than ten individuals working, yet ₦4.2 billion has been allocated for personnel. If ₦300,000 is paid monthly to 14,000 workers for a year, it amounts to ₦4.2 billion, or ₦500,000 to 8,400 workers per month. Where are these workers?”
Senator Osita Ngwu, the Senate’s Minority Whip and a committee member, cautioned against implicating the National Assembly, which approved the budget. In closing, Senator Adeniyi Adegbonmire, Chairman of the ad hoc Committee, assured that the committee would thoroughly review all presentations and submissions to address the issues and prepare a comprehensive report for the Senate on Ajaokuta Steel Company.
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