House of Representatives summons Premium Steel Company

House of Representatives summons Premium Steel Company

The House of Representatives has summoned the Management of the Premium Steel Company to appear before its committee on Steel in three days to answer questions on the sales and present status of the Delta Steel Company.

The summoning followed the company’s walkout staged on the lawmakers at an investigative hearing over the Delta Steel Company, the action described by the lawmakers as criminal.

The walkout was in protest to the committee’s decision not to allow the company’s counsel to represent its management insisting that the Managing Director or a Director of the Company should speak instead.

Handing down the lawmaker’s decision, the Chairman House Committee on Steel Development, Mr Ibrahim Halims from Kogi State said the failure of the company to show up on Wednesday would leave the lawmakers with no other option than to invoke the relevant laws on the company.

“For the Premium Steel Company management to have walked out of this parliament is a disgrace to this nation.

In view of that, I hereby summon the MD of Premium Steel Company to appear before this committee on Wednesday 3rd November 2021.

” Mr Halims stressed.

The Speaker House of Representatives, Mr Femi Gbajabiamila while declaring the investigative hearing open, reiterated the House’s commitment to protecting the interest of the country in line with its Legislative Agenda.

Mr Gbajabiamila represented by the Minority Whip, Mr Muhammad Tahir Munguno said though the country needs foreign investment for development, the laws governing such investment would not be compromised.

“This public hearing is very critical to our national development particularly as the country is confronted with the need for technological solutions to the growth of the economy.

I believed together we can do it better.

” Munguno added.

However, representatives of Owvian and Aladja communities in the Udu Local Government Area of Delta State, have staged a protest within the hearing room over the attitude of the Premium Steel Company’s management describing it as rude and a disregard to the parliament as an institution.

In their presentation at the sitting, the communities demanded revoking of the sales of the Delta Steel Company to Premium Steel Company saying that this would allow the government to take ownership of the company and drive its benefit for the nation.

Mr Onajite Brown, chairman of Udu Local Government Area expressed the confidence that the National Assembly, through the Committee would do justice to the communities by revoking the company “Because the level of assets stripping is too much.

“Their behaviour is satanic, this is to tell you the fraudsters we are bringing as investors and we need to rebut them because this is Nigeria and Nigeria for the people.

Delta Steel Company, established in 1982 to produce about five million tons of steel annually and employ not less than five thousand Nigerians, was initially sold to Global Steel Limited and later to Premium Steel Company that grounded the company.

During commissioning it was one of the largest steel plants in the African continent, as a dream project to meet Nigeria’s growing thirst for iron and steel but as of today, the steel plant is only producing reinforcement steel for construction.

House of Representatives summons Premium Steel Company

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