Business
Sole Administrator Tasks FG On Ajaokuta Steel
The Sole Administrator of Ajaokuta Steel Company Ltd., Mr Sumaila Abdul-Akaba, has urged the Federal Government to complete the construction and equipping of the company before putting it up for re-concession.
Abdul-Akaba told newsmen in Ajaokuta that completion of the plant would raise its value at concession.
He said that a Technical Audit Committee had already been constituted by the Federal Government to ascertain the real cost of completing the plant.
According to him, we are not against the concession of the company but there is the need to complete the plant as this will place high value on it.
On the state of infrastructure and equipment at the plant, Abdul-Akaba said that another committee would be set up to determine their conditions, and explained that the equipment were not obsolete, “but still very intact’’.
Similarly, some stakeholders said that any attempt by the government to re-concession the steel plant would lead to corruption and mortgaging security of the country.
The Tide source recalls that former Minister of Mines and Steel Development, Dr Kayode Fayemi, had in March said that Federal Government would no longer “spend a penny to revive the plant’’.
Fayemi said this while reacting to a ‘Vote of No Confidence’ passed on him by the House of Representatives.
He said that government would not incur further expenses to put the plant to use, but would rather concession it to a capable company with good history of competence and financial buoyancy.
Fayemi had said that a Technical Audit of the Plant, which had gulped about 80 billion dollars since its inception, was ongoing and would soon submit its report.
According to him, after completion of the audit, the ministry will declare it open for concession and only a competent bidder will be allowed to operate the company.
“The position of the government is clear on Ajaokuta; only a company that is verifiable, competent and financially buoyant will get the concession on Ajaokuta after the Technical Audit is completed.
“The rumour going on that Ajaokuta is at 90 or 98 per cent completed is not true; that is why the Technical Audit is going on to ascertain its level of completion and other information needed,’’ he had said.
However, following the former minister’s declaration, the House of Representatives came up with a Bill to stop him from initiating or concluding any concession plan on the steel plant.
The Bill and another, to establish a fund to complete the Plant, have passed second reading at the lower chamber, with 301 members out of the 360 members, supporting both.
It would be recalled that Speaker of the House of Representatives, Mr Yakubu Dogara, said recently that the National Assembly would resist any move to concession the plant.
The speaker spoke after he led members of the House’s Committee on Steel on a visit to the steel complex and said that concession of the company would amount to mortgaging Nigeria’s future.
“You cannot concede your future; it is never done. I am yet to see a nation that even conceded its bedrock and still succeeded. If you see one, just tell me. And, that’s why previous attempts to concede it were not possible.’’
He said it was a collective shame to all leaders that the project was yet to be completed after several decades.
“Our determination to ensure that the Steel Plant is revived is born out of the promises that the company holds for Nigeria’s population in terms of job creation, gas development and economic boost.’’
Dogara assured that raising funds to complete the project would not be a problem.
The Ajaokuta Steel Plant was first given on concession to Global Infrastructure Holding Ltd., which later metamorphosed to Global Infrastructure Nigeria Ltd. (GINL).
But, GINL was said to have compounded issues at the company and lowered its furtunes.
Following the development, late President Umaru Yar’Adua in 2008, terminated the concession of Ajaokuta and Itakpe Iron Ore Mining Company to GINL.
This was sequel to a report of the committee set up by the late president to check the concession process and the state of the steel complex, which indicted GINL of “asset stripping’’.
Ajaokuta Steel Plant is sited on 24,000 hectares of land in Ajaokuta, Kogi, about 38 kilometres from Lokoja, the state capital.
The Plant was conceived and steadily developed with the vision of erecting a Metallurgical Process Plant/Engineering Complex with other auxiliaries and facilities.
The company is meant to generate important upstream and downstream industrial and economic activities that are critical to the diversification of Nigeria’s economy to an industrial one.
The Plant dubbed “Bedrock of Nigeria’s Industrialisation’’ is also designed to produce iron and liquid steel from Iron Ore Mines at Itakpe, also in Kogi, about 52 kilometres from Ajaokuta.
For officers and men of the Western Marine Command of the Nigeria Customs Service (NCS), the battle is not over until smuggling is over.
In the wake of Wednesday May, 8, 2024, the ever vigilant officers, acting on a tip-off, intercepted 177 sacks and 61 kegs of 25 litres containing petroleum products, valued at about N8.750,000million.
The items were intercepted along Isalu Creek, Badagry Waterway en-route Benin Republic.
While briefing newsmen, the Command’s Customs Area Controller, Comptroller Paul Bamisaiye, said: “This seizure is most economically significant to the Command at this period of scarcity of Petroleum Products, especially Premium Motor Spirit (PMS) in our cities, and shows the anticipatory posture in our response to economic saboteurs.
“At about 2:330hrs on Wednesday 8th May 2024, while on joint patrol by teams in the Command, credible intelligence was received of the movement of 2 boats laden with what was suspected to be petroleum products concealed in sacks. Upon receipt of the information, the team moved into Isalu creeks, Badagry waterway.
“On sighting the approach of the Officers, the smugglers took to their heels through the shore of the Creek. The loaded boats were then towed to the station at Badagry where preliminary examination was conducted and transferred to Western Marine Command Headquarters, Ibafon, Apapa, Lagos.
“Careful examination at the Command Headquarters revealed that the arrest was found to contain One Hundred and Seventy Seven (177) Sacks and Sixty One (61) Kegs of 25 Litres Premium Motor Spirit (PMS) containing Twelve Thousand Five Hundred (12,500) Liters with a total Duty Paid Value standing at Eight Million Seven Hundred and Fifty Thousand Naira (N8,750,000) only”.
Bamisaiye noted that the action of the smugglers is a contravention of Section 245 & 254 of the Nigeria Customs Service Act 2023 which the service, through Western Marine Command, is responsible for enforcing.
“The Command, under the leadership of Compt. PK Bamisaiye, is poised more than ever to rid the waterways of all acts of smuggling and economy sabotage for the benefit of the growth of economy of Nigeria”, he said
Bamisaiye said so far, no suspect was arrested in the Command’s anti-smuggling operations.
Nkpemenyie Mcdominic, Lagos
Petroleum products being sought by motorists have disappeared from virtually all filling stations within Lagos and its environs, but are now booming in business in retail outlets.
Investigations by our correspondent revealed that while the product could not be got at some of the petrol service stations, activities are in top gear in the local retail outlets where the price has gone beyond the reach of users.
It was also gathered that in some filling stations supplied with the products, preference are often given to retail outlet operators by petrol attendants against the consuming public.
A source, directly involved in the business, said some petrol dealers are cashing on the irregular supply to divert the products to retail outlets where they could easily make their gains.
It was also gathered that some sales representatives in the service of major oil marketing firms indulged in the diversion exercise because of their personal interest.
At the retail outlets a liter goes for N950,00 against the normal N760,to N800 at some stations.
Nkpemenyie Mcdominic, Lagos
The Nigeria Customs Service Board (NCSB) has confirmed the appointment of five Deputy Comptroller-Generals (DCGs) and eight Assistant Comptrollers-General (ACGs) of Customs during its 59th regular meeting.
The meeting, chaired by the Honorable Minister of Finance and Coordinating Minister for the Economy, Mr. Wale Edun, was held at the Nigeria Customs Service Headquarters in Abuja last Tuesday.
National Public Relations Officer of the Service, Chief Superintendent of Customs, Abdullahi Maiwada, who disclosed this in a statement yesterday, gave details of the confirmed appointments as: O.O. Peters (DCG /Commander, Training and Doctrine Command (rtd); B.M. Jibo (DCG Enforcement Inspection & Investigation); and B.U. Nwanfor (DCG Excise, Free Trade Zone & Industrial Incentives).
Others are: S.A. Bomia (DCG, Commander Training and Doctrine Command); and C.K. Niagwan (DCG, Tariff & Trade).
The Assistant Comptrollers General (ACGs) are: B. Imam (ACG Board); A.A.S. Oloyede (ACG, Trade & Tariff); S.K. Dangaldima (ACG/Zonal Coordinator, Zone ‘B’); A. Abdul Azeez (ACG/Zonal Coordinator, Zone ‘D’); S.A. Yusuf (ACG, Human Resource Development); N.P. Umoh (ACG, Training and Doctrine Command); C.O. Obih (ACG/Zonal Coordinator, Zone ‘C’); and S. Chiroma (ACG, Strategic Research and Policy).
The new appointments, according to the statement, were made to fill the vacancies created by some senior officers who recently retired from the Service, noting that the principles of federal character, seniority and merit guided the appointments approved by the board.
“These appointments are a testament to the officers’ exemplary services and dedication to the Nigeria Customs Service. The NCSB remains committed to providing strategic leadership to ensure effective and efficient service delivery for optimum performance”, he said.
While thanking the retired members of the management for their meritorious services, the Comptroller General of Customs, Bashir Adewale Adeniyi, congratulated the newly confirmed officers and charged them to redouble their efforts to ensure the service attains greater heights in its mandates of revenue generation, suppression of smuggling, and trade facilitation amongst others.
Nkpemenyie Mcdominic, Lagos
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