Business
NLC Hails FG’s Take Over Of Ajaokuta Steel Company
The President, Nigeria Labour Congress (NLC), Ayuba Wabba, has described the recent Federal Government pronouncement on the Ajaokuta steel company as a good step in the right direction.
Wabba gave the commendation when he featured at a media Forum on Sunday in Abuja.
“In fact, the review of the sale of Ajaokuta Steel Company is one of the best things that happened to this country.
“ I have seen that no country in the world develops without having iron and steel in place.
“Because that is what drives development; you need to build roads; you need to build bridges; you cannot be importing some of those materials.
“Therefore, the position of Labour is that we support 100 per cent the review of the sale agreement, the taking over of that very important edifice by government.
“It is something that we have commended, we have supported; In fact it is part of our agitations over time when it was sold as scrap.
“What those companies did was to ensure that we cannot produce and we should continue to buy from them, that is what they want to do. ’’
He urged the Federal Government not to relent in its efforts at fashioning out ways of improving the economy, adding that the current decision on Ajaokuta could be extended to other companies sold at a giveaway price.
Wabba noted that the sale of Nigerian companies to foreigners so far, had not helped in the development of the economy.
He alleged that people who bought the companies sold at giveaway prices merely kept them under lock and key.
“In some of cases, they did what we call asset stripping; they sold the assets, some removed the assets and took them to their countries and closed those companies.
“So, it has never benefitted us; for our economy to be stable, we need to produce what we will consume.
“We cannot depend on importation of everything and think we can stabilise our economy and also create the jobs that our youths are yearning for, ‘’ Wabba said.
He, therefore, advised the Federal Government to take a firm decision on recovering other companies sold at giveaway prices for the good of the economy and the country.
Business
NIMASA Marks 2025 Customer Week, Pledges Service Excellence

Business
SEME Customs Foils Smuggling Attempt Of Expired Flour, Seizes N2bn Contraband

Business
LASG UNVEILS GROUNDBREAKING OMI-EKO PROJECT AT FIVE COWRIES TERMINAL

-
Nation4 days ago
Union Petitions EFCC, ICPC Over Tax Fraud Allegations Against Daewoo, Saipem
-
Politics4 days ago
Senate Confirms Amupitan As INEC Chairman
-
Nation4 days ago
HYPREP Remains Steadfast In Adhering To International Standards—Zabbey …As Regulators, Asset Owners Hail Project
-
News4 days ago
NERC Approves N28bn For Procurement Of Meters For Band A Customers
-
News4 days ago
Fubara Reassures Rivers People Of Completion Of PH Ring Road Project
-
Rivers4 days ago
World Food Day: Farmers Urge Collaboration For Improved Productivity
-
Nation4 days ago
MOSIEND Hails Benibo Anabraba Appointment As Rivers SSG
-
Rivers4 days ago
IAUE Governing Council Chair Assures On Mandate Delivery