Sale of Delta, Ajaokuta Steel fraudulent - Lawmaker

Lanre Oyetade and Ayeleso Oladele, Lagos - 14.02.2008

The Chairman, House of Representatives committee on Information and National Orientation, Honorable Dino Melaye, has disclosed that the sales of Delta Steel Company, Ovwian-Aladja, Delta State, to an Indian company by the Bureau of Public Enterprises (BPE) was fraudulent.

He also disclosed that it was the same company that bought Ajaokuta Steel which was undervalued by BPE. Melaye revealed that two companies from Russia and Australia came to Nigeria to value Ajaokuta Steel Company.

Hon. Melaye, who revealed this in Lagos on Wednesday said he had conducted a private investigation on the purchase of Delta Steel Company by one Global Infrastructure Nigeria Limited (GINL), and discovered that GINL did not even bid for it so it could not have emerged as the highest bidder.

He said from his investigation, only three companies bided for the Delta Steel in which BUA , an indigenous company was recommended to former President Olusegun Obasanjo by BPE as the highest bidder.