The Chairman of the Senate ad-hoc committee investigating the Ajaokuta Steel Company Limited and the National Iron Ore Mining Company in Kogi State, Senator Adeniyi Adegbonmire, has declared it is time to break the longstanding “jinx” surrounding the Ajaokuta Steel Plant.

During a meeting with the company’s workers and management on Wednesday, Adegbonmire stated, “The committee is here with a firm commitment to uncover why the Ajaokuta steel plant remains non-operational decades after its establishment. Our mission is to gain insights into the situation and ensure the plant becomes operational.”

In his welcome address, the acting Chief Executive of the company, Kanwai Joseph, expressed appreciation for the committee’s interest, saying, “We recognize the trust placed in us to manage national assets and are committed to transparency and accountability. Despite the plant’s inactivity, we strive to preserve this significant government investment and deliver quality products when operational.”

Joseph addressed concerns about corruption and inefficiency, assuring the committee of full cooperation during the investigation. He promised unrestricted access to facilities and information to facilitate a thorough and impartial inquiry.

The Ajaokuta Integrated Steel Complex, conceived in 1979, was designed to include a Metallurgical Process Plant and various auxiliary facilities, intended to stimulate critical industrial and economic activities for Nigeria’s diversification toward industrialization.

However, in August 2024, the Federal Government disbursed N38.9 billion in salaries and allowances to workers of the dormant steel company over a ten-year period, despite the plant producing no steel since its inception.

In September 2024, the government, through Minister of Steel Development Shuaibu Audu, signed a Memorandum of Understanding with the original builders, Messrs Tyazhpromexport, for the rehabilitation, completion, and operation of both the Ajaokuta steel plant and the National Iron Ore Mining Company.