National Assembly, NASS has charged the federal government to secure loan to revamp the Ajaokuta Steel Company in Kogi State with a view to further boosting the nation’s economy.
Members of the Senate Committee on Power, Steel Development and Metallurgy, gave the charge during an interactive session with Minister of Mines and Steel Development, Architect Muhammad Musa Sada in Abuja.
Chairman of the committee, Senator Philip Aduda expressed concern over the delayed take off of the revival of the company, assuring that he and his members would not relent in its efforts to ensure that the company was revamped to advance the nation’s industrialisation drive.
He said the committee would meet with President Goodluck Jonathan to discuss financial allocation for the steel sector in the 2014 budget.
“We want to see that the steel sector is revamped to boost our industrial sector. For us to industrialise, we must ensure that our steel sector is working.
“We need to have audience with Mr President to discuss the worries of the committee on revamping the company and the need for one billion dollars loan for the auxiliary infrastructure.
“We will do everything possible within our power to move the sector forward because without the sector there can be no industrialisation in the country”, Aduda added.
Also speaking, Senator Nurudeen Abatemi-Usman wondered why government had not sourced loan which was estimated by stake holders to revamp the steel project since three years ago.
He called on President Goodluck Jonathan to turn the fortunes of the steel complex around rather than allowing it to continue to waste away.
Responding, the minister told the committee that beyond cash bail out, there was need for urgent provision of infrastructure to revive the project.
Sada said the most critical infrastructure needed included rail tracks and sea port for conveying raw and finished products.
He assured that the current administration was making effort to return the steel complex to an economic asset for the country.
“The project needs massive provision of auxiliary infrastructure to revamp and put the steel company back on stream’’, he said.
According to the minister, the federal government is taking its time to ensure it did not make mistakes in the implementation of the project.