The Deputy Chairman House Committed on Water Resources, Hon Olubukola Oyewo has called for the Review of the privatisation of the Osogbo Steel Rolling Mills and the Nigerian Machine Tools which was done under the administration of President Olusegun Obasanjo.
This was contained in a motion moved on Tuesday by the lawmaker on the floor of the House of Representatives. Oyewo noted that the companies has further became moribund owing to their Privatisation, and there's a need to visit the arrangement for the benefit of the Nigerian populace.
The Osogbo Steel Rolling Mills, the Nigerian Machine Tools and other national assets were sold to private investors by the administration of former President Olusegun Obasanjo through the Bureau of Public Enterprise (BPE), chaired by the former Vice-President Alhaji Atiku Abubakar
Oyewo noted that due to the privatisation of these national assets, most of them, especially the Osogbo Steel Rolling Mill and the Nigerian Machine Tools has further remained moribund since it was privatized.
In his words, "Aware that without functional steel companies in Nigeria, the dream of manufacturing vehicles in the country and other machine equipment might be a mirage.
"Further Aware that the neglect of this companies which provided jobs for over 20,000 people is having a serious negative effect on the people and the economy of the nation. The sales of these companies should be reviewed on these premises.
The lawmaker asserts that many jobless youths will find something to do if the sales of these national assets are reviewed towards optimal utilisation, as it is said that an idle hand is the devils workshop.
In his response, the House urges the Committee on Privatization and Commercialization to investigate the process of the privatization of these companies. The House further urge the Committee to liaise with the Bureau of Public Enterprise (BPE) with a view to work on modalities to revert the privatization of these companies.
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