Sale of the Delta Steel Company, Aladja, and its acquisition by AMCON

On a petition, the House Committee on Public Assets, chaired by Ademorin Kuye, investigated the sale and collapse of the Delta Steel Company, Aladja, and its later acquisition by AMCON, and questioned the BPE, AMCON, the Office of the Accountant-General and MOFI. The BPE Director General, Ayodeji Ariyo Gbeleyi, said 80 percent of the company, valued at US$700 million, was sold to Global Infrastructure Nigeria Ltd in 2005 for US$30 million, with the government keeping 20 percent.