The ‘CSO Coalition for the Revival of Ajaokuta’ has expressed that the revival of the multibillion Ajaokuta Steel Complex in Kogi state would soon come to fruition.
The group’s claim was strengthened by the Federal Government’s recent efforts at paying off the country’s debt over Ajaokuta to a foreign firm spanning over 20 years.
The group said it is heartwarming, patriotic and commendable to have succeeded in negotiating the nation’s debt from $5.28b to S496m after tax and overheads.,which accounted for about 91% reduction of the mediation claim.
Mohammed Bougei Attah, National Coordinator. Prince Chris Azor,President, International Peace and Civic Responsibility Centre (IPCRC) and Barr. Ayo Adebusoye, Executive Director, Nigeria Network of NGOs, conveyed the group’s optimism in a statement sent to PremiumNews on Monday.
Commending the government’s gesture, the group said the negotiations have put to rest the long-standing contractual dispute with a foreign investor group and constitute the last process in the efforts to bring back Ajaokuta Steel Company Limited back to fruition.
It is also a relief to win back the National Ore Mining Company in Itapke, NIOMCO that was hitherto under concession to this foreign interest,the statement said.
The group commended President Muhammad Buhari for keeping to his promise of ensuring the steel company is back to full operations before the end of his administration,adding that this would not have been possible without the political will from him and the support by his ministers and the administrators of both Ajaokuta Steel Company Limited, ASCL and NIOMCO administrators.
The group added: ’,And with the settlement agreement coming into effect in August this year, we are convinced that this is a milestone to getting the steel plant back to life for the good and development of the country. We are convinced further that the ‘Industrialization Agenda’ of the Buhari administration is indeed working.Recall that on November 25 last year at the National Conference on Ajaokuta Steel Company, organized by the Coalition, the CSOs had urged the federal government to consider it a patriotic gesture by putting the Ajaokuta phenomenon to rest through this process of arbitration, which has held backward the revival process over the years.
‘’It is therefore clear, as stated by the Hon. Attorney General and Minister of Justice, Abubakar Malami that President Muhammadu Buhari “has succeeded in rescueing the steel industry from interminable and complex disputes as well as saving the taxpayer from humongous damages.As civil society organizations, representing the voice and interest of the Nigeria public, we would continue to play our role as independent monitors, to ensure the task of completing this revival process is done with utmost sincerity, diligence and patriotic zeal that will help to accelerate Nigeria’s industrialization agenda’’
