United Labour Congress of Nigeria, ULC, has rejected plans by the Federal Government to privatise Ajaokuta Steel Company, Kogi State, urging it to complete the company for national development.
Speaking through its President, Mr. Joe Ajaero, ULC contended that it is opposed to the privatisation of the steel company because of its enormous benefits to industries, homes and the nation at large.
Recall that the House of Representatives Committee on Privatisation, chaired by Ahmed Yerima, on March 1, held a public hearing on Federal Government’s planned privatisation and concessioning of the company, which the House rejected.
According to Ajaero, government is yet to provide an alternative if the company is privatised and should, instead, channel its energy into completion of the company.
ULC’s President said: “No country is stable without a steel company. If it is developed, it will boost car manufacturing companies, rail system and roads.”
Ajaero noted that if government could rehabilitate the company, it was capable of employing 500,000 workers.
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Also, President of Iron and Steel Senior Staff Association of Nigeria, ISSSAN, Mr. Itopa Bello, said government should unbundle the company to ensure its effective operation and viability.
Bello added that Ajaokuta Steel had many products entity with the capacity to stand and function independently and should not be given to a single investor.