From Charity Nwakaudu, Abuja
The Federal Government has pledged its commitment to revitalizing the nation’s steel sector to boost the economy and contribute to the growth of the Gross Domestic Product (GDP).
Minister of Steel Development, Prince Shuaibu Abubakar Audu, made this known during a courtesy visit to Kwara State Governor AbdulRahman Abdulrazaq in Ilorin.
Prince Audu stated that the aim was to harness the nation’s steel resources for economic growth and achieve the mandate of resuscitating the steel sector to meet both local and international consumption.
The Minister expressed the Ministry’s willingness to support indigenous steel companies across the country to produce optimally.
“We are here to show support to indigenous steel companies that can help provide millions of jobs for Nigerians. The steel sector, when properly harnessed, can provide large-scale jobs for the people and industrialize the country,” he added.
Prince Audu further noted that aside from wooing foreign investors, the Ministry is committed to helping indigenous companies grow to meet international best standards, adding that it was high time Nigeria worked for Nigerians.
During his two-day working tour to the state, the Minister also visited KAM Holding Ltd to encourage them and address pertinent challenges faced. He promised to make the sector work again.
In his remarks, Governor Abdulrazaq, who is also the Chairman of the Nigeria Governors’ Forum, noted that the Minister’s visit showed his commitment to attaining the Ministry’s mandate.
He added that the visit would afford the Ministry the opportunity to get the true facts needed to move the sector forward.
The Governor appealed to the Ministry to consider KAM Holding Ltd should it need the input of an indigenous steel company to partner in the revival of Ajaokuta Steel Company, adding that making Ajaokuta work was the key to unlocking the industrialization of the country.
“Without getting the steel sector right, Nigeria cannot be industrialized,” he added.
In her welcome address, the Vice Chairman of KAM Holding Ltd, Dr. Iyadunni Bolanle Yusuf, revealed that in the past, the steel sector was dominated by foreign-owned companies until KAM Holding Ltd came on the scene. She noted that the company is home to manufacturing companies of liquid, iron, and steel products that are wholly owned by Nigerians.
Dr. Yusuf appealed to the Ministry to ensure it protects the indigenous steel manufacturing sector as it plays a critical role in the growth and development of the country by providing materials for building infrastructures, automobiles, engineering, and defense, as well as being the bedrock of industrialization.
The Minister also paid a courtesy visit to the Emir of Ilorin, Ibrahim Sulu-Gambari.