The lawmakers are also investigating why the 10 per cent of the mining proceeds has not been paid to the host community.
The committees were specifically asked to “conduct an investigation of the sale and the subsequent failure of Premium Steel and Mines Limited to put the steel company into operations.” Igbakpa said, “Delta Steel Company Plc, Oviwian-Aladja, Udu Local Government Area of Delta State was built on 172 hectares of land at the cost of $1.89bn and was established to be the flagship of the steel industry in West Africa, and the Nigerian dream of industrialisation with the capacity to provide jobs for thousands of Nigerians.
“The House is disturbed that nearly four decades after its commissioning, decline set in and the steel giant started in 1982 to totter due to bad government decisions and dishonest corporate governance perpetrated by corrupt civil servants, politicians and Indian businessmen; all at the expense of Nigerian taxpayers and the host communities.
Lol
After how many decades... Awọn oniyẹyẹ
Just as they did to Ajaokuta and no result...