The ongoing controversy over the concession of the Ajaokuta Steel company has taken a new twist. 

The House of Representatives has gone a step further in its opposition to the concession by proposing to amend the Privatisation Act.

It also resolved on Thursday that having passed a vote of no confidence on the Minister of Mines and Steel Development, Kayode Fayemi, the House would no longer accord him the recognition of addressing him as “honourable minister.”

The lawmakers also noted that in other climes, passing a vote of no confidence in a minister is enough grounds for the President to sack him.

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In a resolution, the House observed that Fayemi’s decision to engage PricewaterhouseCoopers to conduct a technical audit on the ASC meant that he was bent on the firm’s concession.

To stop Fayemi, the House proposed to amend the Privatisation Act immediately by expunging the ASC from the list of public assets in the schedule that could be privatised or given to private investors as concession by the Federal Government.

Meanwhile, Fayemi and the Minister of State for Mines and Steel Development, Abubakar Bwari, have said that they have yet to hire a transaction adviser for the concession of the ASC.

They also stated that the lawmakers grossly misunderstood them.


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