Connect with us

News

SINET cautions FG on transferring Ajaokuta Steel to foreigners

Published

on

Last Updated on December 21, 2023 by Fellow Press

The Federal government has been advised to respect the opinion of over 250million Nigerians by halting any further transaction on the revitalization of Ajaokuta Steel Rolling Mill which is aimed at transferring to foreigners through the back-door contrary to the national interest of protecting the heritage of the nation.

The Social Integrity Network (SINET), at the close of an emergency meeting held of Wednesday, expressed worries over the poor system of governance adopted by the federal government through its relevant agencies such as the Federal Ministry of Steel Development and Ministry of Industry, Trade and Investment among agencies of the government.

The group lamented that despite the presence highly intellectual personalities such as University Professors, Industrialists, members of national assembly, seasoned administrators, captains of Industries, technical and financial consultants among others, “It is unfortunate that our leaders still allow foreigners to fool the entire nation with unrealistic proposals and business plans.”

In a statement issued by its national coordinator, Ibrahim Issah, SINET recalled that the National Assembly Joint Committee on Steel Development recently passed a resolution to probe the $496million paid by the Federal Government to an Indian firm which failed to revitalize the Itakpe Iron Ore Company after three years.

The group noted that preference should be given to national companies who can run such plants, ensure employment generation, reducing imports and do away with siphoning out much needed forex and mineral resources.

He added that “the Global Infrastructure Holding Ltd., GIHL took over the National Iron Ore Mining Company, NIOMCO, Itakpe, Kogi State in 2016 and got its agreement terminated in 2019 due to non performance.

“GIHL dragged the Federal Government to court for breach of contract and it was awarded damages to the tune of $496million which had been paid”.

According to him, “We are outrightly against the way the federal government is deliberately and ignorantly selling out its national heritage without recourse to the yearnings and agitation of Nigerians especially at this crucial period when the nation is battling with economic stability among other challenges.

“Almost five decades of lost opportunity towards strengthening large scale Steel Production in Nigeria, failed attempts without proper road map. It is also on record that Russians and Ukrainians supplied already obsolete technology then in 1970s

“Another blunder was committed by handing over Ajaokuta, Itakpe mines with all the infrastructure and Delta Steel plants to GLOBAL INFRASTRUCTURE HOLDING LTD GHIL, India. They took over the plant and siphoned out all the resources from country and eventually country did not get any benefit.

“GIHL was never serious in running the plants and mines at Ajaokuta Steel Company Limited, Delta Steel Company and Itakpe. Later, GHIL sold its stakes in Delta Steel Company to Stallion Group under a SPV to Premium Steel & Mines Limited This acquisition was also a marvel of financial engineering by PSML to hide black money generated and siphon out of country through their other businesses.”

Comrade Issah further stressed that, “When stallion did not get support from the former President Muhammadu Buhari-led government, they had to shutdown the PSML Warri business around 2020. Sadly, for the third time, the Federal Government is trying to bring in Indian company to loot the resources from Ajaokuta, Delta steel plants and Itakpe mines.

“Interestingly, the immediate past government had paid the sum of $496million to GIHL as compensation even despite massive public outrage, wherein, these investors are merely looking at Itakpe mines to cater their offshore companies at much cheaper rate of iron ore supplies.”

While confirming that Jindal-India has been asked to work out takeover proposal back-door without public notice knowing well that several injunctions have been in different Courts of Law, SINET warned the federal government to understand that Ajaokuta and Delta Steel Company are very old and obsolete technologies and any company claiming to run and earn profit is just misleading the nation with nefarious intentions.

“We hereby advise FG and it’s concerned Ministries to carefully dig deep into their Detailed Project Report, Elaborated Business Plan, Capital Outlay and Cash Flow Projections by involving independent agencies and champions of business here in Nigeria. We are quite sure that the so-called 5B investment from Jindal is a faux pass and outrightly exaggerated number that will put Nigeria, her assets, resources and general public in total mess again”, SINET maintained.

Headline

MKO Abiola’s children who couldn’t buy drugs have died in last 30 years

Published

on

Some Of My Siblings, MKO Abiola’s Children Who Couldn’t Afford Drugs Have Died In Last 30 Years – Abdulmumuni Abiola Laments

Abdulmumuni Abiola, one of the sons of late Chief MKO Abiola, has berated his elder brother, Kola Abiola, over the alleged mismanagement of their late father’s wealth and throwing the rest of the siblings into abject poverty.

Speaking in a podcast on Mic On with Seun Okinbaloye, Abdulmumuni lamented that Kola had mismanaged their late father’s wealth and sidelined him and other members of the family to the extent that in the last 30 years, some of Abiola’s children had died because they could not afford to buy medicine to treat and take care of themselves.

Asked if he blamed Kola for the manner in which things had gone and whether he believed the legacy of Abiola would have been properly sustained rather than it was now, Mumuni said, “I definitely do because he was in a better position, especially after the whole crisis.”

Speaking further, Abdulmumuni said, “First of all, if he listens to what my father said in the Will and does what he is supposed to do like every other one has done, there wouldn’t be a problem.

“We have lost so much. There are so much properties my father has in this country that we can never get by because people sit on it and they are using it to take care of their own families. The issue is, who is losing?

“It is our money that they used to buy those things. Those properties now cannot be bought with the same amount, with the kind of money that would be spent today. I’m talking about the silo in Lafia Agil in Kwara State – 20,000 metric tonnes Silo with 10,000 hectares of land. How much would be paid for that land now?

“It is so sad that your father was rich to a certain level and you cannot continue from where he stopped. I would like him to explain to me why exactly he has gone with this direction. It is like going down the deadened road and you are seeing the signs but you are still going.

“This is 30 years down the line. It is not like I waited for a year after my father died and started making these accusations. Abiola’s children who could not buy medicine to take care of themselves have died in this 30 years. This is sad and I’m sure my father will not be pleased about it. So, I am not pleased.”

He added, “I wake up in the morning and my phone is inundated with text messages of people who ask for help. How many people can I help? If I want to help somebody, I need to first help myself. It is important we do things the right way.”

Asked if he has spoken with Kola about his grievances, Mumuni said he is talking about the properties in Nigeria only.

He said, “You must understand that I’m talking about their properties in Nigeria only. This is not where Abiola has his wealth. Abiola had those companies in Nigeria just to help Nigerian people.

“They were losing money and they were building money. But he did this (established companies in Nigeria) because he knew they needed something to do so that they don’t pick up guns. He (Abiola) understood that.

“Abiola’s wealth was from outside this country. He was an accountant and when he was the state director of ITT, there was money that owed the company, when he was able to retrieve the money from the military government then, he went back to his masters in England.

“They wanted to offer commission but he asked them to give him shares. So, my father has shares.

“I told brother Kola when I got back that I don’t want to disturb him about the money outside Nigeria. That it is for him, he should do whatever he wants with it. But the ones in Nigeria, we will die there.”

Abdulmumuni said he had taken over Concord Newspaper but “at the time we took it, he took me to Kabiyesi Akiolu’s Palace to tell me why I should leave the place.”

Continue Reading

News

Accept FG offer above N60,000 as new minimum wage, Opeyemi Bamidele to labour

Published

on

The Senate Leader, Senator Opeyemi Bamidele, APC, Ekiti Central has pleaded with the Nigeria Labour Congress, NLC and the Trade Union Congress, TUC
to accept whatever the federal government offered them above N60,000 as the new minimum wage.

Bamidele urged the NLC and TUC to toe the path of dialogue and peace in the negotiation of a new minimum wage, which the President had promised to send a bill to the National Assembly for this purpose.

The Senate Leader has reiterated the need for Nigerians to demonstrate more patriotic spirit and oneness in their daily activities as the nation journeys through its socio-political trajectory towards the promised land.

He made the call in an Eid-el-Kabir message by his Directorate of Media and Public Affairs on Sunday, just as he highlighted some achievements of the administration of President BolaTinubu.

Bamidele said, “The federal government has conceded to N60,000, which translates to a 100 percent increase. But both NLC and TUC turned down this offer, leading to a two-day industrial action.

“The federal government has promised to make more concessions in this respect. As the federal government reveals its new offer, I plead with the organised labour to accept it in the national interest. The economy will remain in this condition. Collectively, we are taking multi-pronged measures to reverse disturbing economic indicators.”has conceded to N60,000, which translates to a 100 percent increase. But both NLC and TUC turned down this offer, leading to a two-day industrial action.

“The federal government has promised to make more concessions in this respect. As the federal government reveals its new offer, I plead with the organised labour to accept it in the national interest. The economy will remain in this condition. Collectively, we are taking multi-pronged measures to reverse disturbing economic indicators.”

While identifying with all Muslim faithful nationwide, Bamidele who noted that Nigerians, regardless of religion and tribes, should team up with and rally support for the Tinubu administration to safely steer the ship of the nation into a successful end, emphasised that no nation could travel the journey of national rebirth alone without the unwavering support of its citizens not minding their political, cultural and social backgrounds and orientations.

He assured that the current administration would leave no stone unturned in alleviating the economic hardship being faced by the majority of Nigerians and re-offer them a sense of pride in their home country.

In the spirit of the season, the Senate Leader urged all Muslims to emulate love and good neighbourliness exemplified by Prophet Mohammed (SWAT) during his time and how he related very well with people of other faiths and nationalities.

Bamidele who appealed that the ongoing reengineering efforts of the Tinubu Administration could only yield democratic dividends in an atmosphere devoid of insecurity, but where lives and property are protected, said: “Just to mention a few among ongoing projects like the 700 kilometres Lagos-Calabar Coastal Highway, the establishment of N50 Billion Pulako Initiative and annual recruitment of 30,000 new police personnel are Key Performance Indicators of this government.

“Only recently, this government declared a state of emergency in agriculture and launched the National Agricultural Development Fund with N100 billion, in addition to the Dry Season Farming Initiative and the Green Imperative Programme to ensure food security across the land.

“All these and other components of the 8-point Renewed Hope Agenda require the patriotic support and prayers for their deliverables to multiply at the doorsteps of Nigerians in the remaining three years of the first term of this government.”

He further urged the Muslim faithful to use the season of Eid el-Kabir to pray for the leaders of the country for divine wisdom and understanding that can match the enormous tasks of leading the country especially at a time when economic realities are not favourable around the world.

Continue Reading

Facebook

Trending