Ajaokuta Revival: Ajaokuta Steel Company Law Passes First Reading
As part of the ongoing efforts to revive the giant steel company of Nigeria, Ajaokuta Steel Company Limited, (ASCL), the law that will guide its operation and management has passed first reading.
The bill which was sponsored by Hon. Ossai Nicholas Ossai representing Ndokwa/Ukwani, Delta state passed first reading on Tuesday.
This was disclosed on Wednesday by the founder of Builders Hub Impact Investment Program (BHIIP), Barrister Natasha Hadiza Akpoti who has been at the forefront of the struggle for the resuscitation of the giant steel company.
In a post she posted on her social media handle, she revealed that When passed into law, the bill will serve as a norm of conduct for the resuscitation, management and protect it from being leased out to private companies as well as provide resolution for conflicts and consequences for breaking the law.
According to her, the inability of the company to live up to its purpose of establishment is as a result of the absence of law guiding its operation and management.
Her words, "beloved Nigerians, I am very excited because Ajaokuta Steel Company is about to have its law. Bill passed first reading yesterday.
"Importance of the Law:
This law will serve as a norm of conduct for the resuscitation, operations and management of Ajaokuta Steel Company (National Iron Ore Mining Company, Itakpe is captured herein as well).
"In other words, this bill when passed into law shall protect Ajaokuta from misfortunes arising from vested private interests, overzealous government interruptions, provide resolution for conflicts and contain consequences for breaking the law.
"The absence of this proposed law has been the reason for government’s unpatriotic actions or inactions on Ajaokuta Steel over the past many years.
"In short, this law will ensure that social justice is served on Ajaokuta while ensuring that the good people of Nigeria enjoy the dividends of our God given resources through a viable steel sector", she said.
The bill which was sponsored by Hon. Ossai Nicholas Ossai representing Ndokwa/Ukwani, Delta state passed first reading on Tuesday.
This was disclosed on Wednesday by the founder of Builders Hub Impact Investment Program (BHIIP), Barrister Natasha Hadiza Akpoti who has been at the forefront of the struggle for the resuscitation of the giant steel company.
In a post she posted on her social media handle, she revealed that When passed into law, the bill will serve as a norm of conduct for the resuscitation, management and protect it from being leased out to private companies as well as provide resolution for conflicts and consequences for breaking the law.
According to her, the inability of the company to live up to its purpose of establishment is as a result of the absence of law guiding its operation and management.
Her words, "beloved Nigerians, I am very excited because Ajaokuta Steel Company is about to have its law. Bill passed first reading yesterday.
"Importance of the Law:
This law will serve as a norm of conduct for the resuscitation, operations and management of Ajaokuta Steel Company (National Iron Ore Mining Company, Itakpe is captured herein as well).
"In other words, this bill when passed into law shall protect Ajaokuta from misfortunes arising from vested private interests, overzealous government interruptions, provide resolution for conflicts and contain consequences for breaking the law.
"The absence of this proposed law has been the reason for government’s unpatriotic actions or inactions on Ajaokuta Steel over the past many years.
"In short, this law will ensure that social justice is served on Ajaokuta while ensuring that the good people of Nigeria enjoy the dividends of our God given resources through a viable steel sector", she said.
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