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AONDOAKAA, AJAOKUTA STEEL AND US$240MILLION

Source: http://www.huhuonline.com

If facts being revealed by an online publication are anything to go by, then the Justice Minister, Barrister Michael Aondoakaa, should actually be asked to resign to save Yar'Adua's administration. If it is a fact that a memo that was raised by the Justice Minister and allegedly approved last week by the President, it means that the Indian steel giant, Mr. Pramod Mittal of the Global Steel Holdings Limited, would be stripping Nigeria the sum in excess of US$240million (about N43billion). And on top of this, he still would retain the control of Ajaokuta as a concessionaire.

If this story is not correct, I am requesting the federal government through this letter, to make a public statement because on-line publications are read all over the world. If it is correct, it should apologize to Nigerians and cancel the release of the fund.

Mr. Mittal had gone to an international court challenging the cancellation of the concessional Ajaokuta Steel Mill. He won the project as a foreign investor. Instead of bringing in money, he instead raised needed fund from the Nigerian banks. To every sincere mind, this is not the type of foreign investors we require and it was done by Obj's regime.

Yar'Adua through wise counsel terminated the deal. Why has he now turned around to undo what he rightly did in the overriding public and national interest? The extent of his u-turn is more devastating that what he may have imagined.

Furthermore, it should also be investigated to find out if Aondoakaa made any money (US$6m) in this pending re-dealing as the news report tended to suggest, and if that was for himself alone or including any other government official.

Chief Okon Emerson
95 Awolowo way
IKEJA, Lagos State.

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