Reps move to probe privatisation of Osogbo Steel Rolling Mill
The House of Representatives has unveiled plans to investigate the process of the privatisation of the Osogbo Steel Rolling Mill.
The house would also investigate the Nigeria Machine Tools consummated under President Olusegun Obasanjo’s administration.
The resolution followed the adoption of a motion by Rep. Olubukola Oyewo ( APC-Osun) on the floor of the House on Thursday in Abuja.
He said the Osogbo Steel Rolling Mills, the Nigeria Machine Tools and other national assets were sold to private investors by the administration of Obasanjo through the Bureau of Public Enterprise (BPE).
He said that since its privatisation, the Osogbo Steel Rolling Mill had remained moribund while the Nigeria Machine Tools situated at Osogbo was performing below its optimal capacity.
He said that without functional steel companies in Nigeria, the dream of manufacturing vehicles in the country and other machine equipment would be a mirage.
He said the neglect of the aforementioned companies, which provided jobs for over 20,000 people was negatively impacting on the people and the economy of the nation as a whole.
He said that many jobless youths would find something to do if the sales of these national assets were reviewed toward optimal utilisation.
The house, therefore, mandated its committee on Privatisation and Commercialisation to investigate the process of the privatisation of the Osogbo Steel Rolling Mill.
The house also tasked the committee to investigate the Nigeria Machine Tools with a view to working out modalities to reverse the privatisation and restore them to full working capacity.(NAN)