Two bills seeking to stop the concession of Ajaokuta steel company scaled second reading at the house of representatives on Thursday.
They include a bill for an act to provide for the Ajaokuta Steel Company completion fund and a bill for an act to amend the public enterprise privatisation and commercialisation act.
Nkem Uzoma from Abia state and 300 other lawmakers are sponsoring each of the bills.
There has been a lingering controversy surrounding the Ajaokuta Steel Company.
Last week, lawmakers asked President Muhammadu Buhari to direct Kayode Fayemi, minister of mines and steel development, to stop the process of the concession.
They are amending the privatisation act to remove the steel plant from the list of public assets which the federal government has powers to privatise or concession.
The lawmakers also want to strip the National Council on Privatisation of its powers as the only body backed by law to decide on which firms should be on the schedule
Uzoma said deleting the plant from the privatisation act is necessary to “protect the steel comapny, a highly valued national asset.”
“It is necessary to delete it because if we let it to remain in the market, overzealous persons will sell it either by omission or commission,” Abonta said.
Also speaking, Aminu Shagari said the bill would help provide for the speedy completion of the steel company.
“The two will go hand in hand,” he said, adding: “As the representative of the people, we should say how the national assets of the Nigerian people should be handle.”