The Nigerian House of Representatives has resumed investigations into the controversies surrounding the defunct Delta Steel Company (DSC) in Ovwian-Aladja, Delta State.
During an investigative hearing in Abuja, the House Committee on Public Assets, led by Honourable Kuye Ademorin Aliu, reviewed submissions on the alleged mismanagement of the steel company’s assets.
The Federal Government had sold 80% of DSC to Global Infrastructure Nigeria Limited (GIN) in 2005 under the administration of President Olusegun Obasanjo. However, GIN allegedly used DSC’s assets as collateral for loans, leading to their seizure by the Asset Management Corporation of Nigeria (AMCON).
Representatives from AMCON, the Bureau of Public Enterprises (BPE), and Premium Steel Company attended the hearing. While BPE maintains that its role ended with the company’s privatisation in 2005, concerns persist over DSC’s fate.
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