The Senate ad hoc committee investigating alleged corruption and inefficiency at Ajaokuta Steel Company and National Iron Ore Mining Company from 2002 onwards has uncovered a staggering discrepancy in the company’s personnel budget.
During a resumed hearing attended by key stakeholders, including the Ministry of Mines and Steel Development, Central Bank of Nigeria, Bureau of Public Enterprises, Nigerian Society of Engineers, and Steel and Engineering Union Workers of Nigeria, the committee expressed shock over the company’s N4.2 billion personnel budget for 2024.
Senator Natasha Akpoti-Uduaghan, Deputy Chairman of the Committee, questioned the rationale behind the allocation, noting that less than 10 employees have been observed working daily. She inquired how the funds were being disbursed to employees, given the company’s low staffing levels.
Akpoti-Uduaghan, an indigene of the area, expressed her disappointment that despite the significant personnel expenses, no steel production has been achieved. “As the sole administrator of Ajaokuta Steel Company, I have a good question for you,” she stated. “N4.2 billion was allotted for human costs in 2024, but on multiple visits to the site, I saw fewer than ten individuals doing anything.”...[CONTINUE READING HERE ▶▶]
Senator Osita Ngwu (PDP Enugu West) prevented the company’s sole administrator from responding, citing the National Assembly’s approval of the appropriation.
Committee Chairman Senator Adeniyi Adegbonmire (APC Ondo Central) concluded the hearing by emphasizing the committee’s commitment to reviewing submissions from stakeholders to develop a comprehensive report on the company’s situation for the Senate.