The Niger Delta Ethnic Nationalities Youth Leaders Council, on Friday, referred to as on the Federal Authorities to revive the Ajaokuta Metal Firm, tormented by alleged corruption and mismanagement, to create jobs and drive industrialization.
The Council referred to as on President Bola Ahmed Tinubu to direct the Financial and Monetary Crimes Fee (EFCC) to research the problems and make sure the firm’s correct completion and operationalization.
The Council, in a press release by its President-Common, Comrade Terry Obieh, criticised the extreme lack of transparency within the administration of funds and contracts associated to Ajaokuta.
He famous that makes an attempt to acquire particulars of spending and contracts have been met with obfuscation.
He stated: “We, the patriotic residents of the Federal Republic of Nigeria from the Niger Delta area, are involved in regards to the persistent neglect of the Ajaokuta Metal Firm. This laudable undertaking was constructed with the proceeds of oil and gasoline from the Niger Delta within the 70s.
“We can’t afford to shut our eyes as Niger Delta youths see this large undertaking mendacity waste for many years now. We hereby name on the Federal Authorities of Nigeria and the Financial and Monetary Crimes Fee (EFCC) to beam their eagle eyes on the longstanding information of corrupt practices, monetary mismanagement, and lack of accountability on the Ajaokuta Metal Firm in Kogi State.
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“The Ajaokuta Metal Firm is a important nationwide asset that was established to drive industrialization and financial growth in Nigeria. Nevertheless, over the a long time now, this undertaking has been tormented by huge corruption, misappropriation of funds, and failure to finish building and operationalize the plant.”
Obieh famous that quite a few contract renegotiations have inflated the undertaking’s prices from an preliminary estimate of $1.5 billion to over $8 billion, with minimal outcomes.
He added, “There was a extreme lack of transparency within the administration of funds and contracts associated to Ajaokuta. Repeated makes an attempt to uncover the small print of spending and contracts have been met with stonewalling and obfuscation.”
The Council additional urged the Federal Authorities to strengthen the choice made throughout former President Umaru Yar’Adua’s administration to have the EFCC prosecute the consortium dealing with the Ajaokuta Metal Firm.
“The Federal Authorities ought to ignore the worldwide arbitration on Ajaokuta Metal Firm and order the arrest of the proprietor of World Metal Holdings Ltd for a contract rip-off that led to that arbitration.
“All the massive sharks within the Federal Ministry of Metal Improvement, Federal Ministry of Justice, and the Ajaokuta Metal Firm, cooking the mischievous worldwide consortia contract negotiations and agreements MUST be fished out and dropped at justice.
“EFCC ought to conduct a complete investigation into the corrupt practices, monetary mismanagement, and lack of accountability which have plagued the Ajaokuta Metal Firm undertaking. The findings of this investigation needs to be made public, and people discovered culpable needs to be prosecuted to the fullest extent of the legislation.
“We wish to guarantee Nigerian youths that the Niger Delta Ethnic Nationalities Youth Leaders Council will take any step essential to comply with up on this matter and guarantee this large firm is accomplished,” he added.
