By Stella Odueme
The Minister of Steel Development, Prince Shuaibu Abubakar Audu has said that his Ministry under the Renewed Hope Agenda of President Bola Ahmed Tinubu, is targeting to produce 10 million metric tonnes of steel annually in order to significantly reduce the country’s reliance on imported steel.
He stated this when he led a team from the Ministry on a Facility Tour of the National Steel Raw Materials Exploration Agency (NSRMEA) and the Defence Industries Corporation of Nigeria (DICON), in Kaduna, to ascertain the state of affairs as the agencies will play a pivotal role in the revolution of the Steel and Metal sector.
“Once our plans are fully implemented in the next five years, we will achieve all our objectives,”.
A statement on Friday said that the Minister noted that Nigeria imports about $4 billion worth of steel annually which underscores the need for import substitution so as to reduce the pressure on foreign exchange. He described NSRMEA as a cornerstone in the present administration to grow the nation’s economy to a $1 trillion dollars by 2030.
“For Nigeria to produce steel in large quantities as we desire, it is very important that the exploration arm of the industry is operating at full capacity.”
The Minister revealed that during the last assessments of Agencies under the Ministry, NSRMEA ranked as one of the best-performing agencies and commended it for its performance.
Similarly, during his tour of the Defence Industries Corporation of Nigeria, Audu stated that plans were underway to partner with the Ministry of Defence and the Defence Industries Corporation of Nigeria (DICON) to produce military hardware.
He noted that talks had already been held between the Ministry of Steel and the Ministry of Defence.
He explained that one of the Federal Government’s key objectives is the rehabilitation of Ajaokuta Steel Company and that the Ministry is working towards integrating military hardware production into the Complex as part of a broader plan to establish a Military-Industrial Complex in Ajaokuta, adding that an MoU had already been drafted and shared with DICON, pending Presidential approval.
Continuing, Prince Audu stated that the administration is committed to repositioning the nation’s Steel Sector, as plans are underway to organize Nigeria’s Inaugural Steel Summit to bring Stakeholders who would develop a Comprehensive Blueprint for the Steel Sector’s growth and development.
The Minister while in Kaduna, paid a courtesy call on the Former President, President Mohammadu Buhari, GCFR, and the Governor of Kaduna State, his Excellency Senator Uba Sani, who was represented by the Deputy Governor, Dr. Hadiza Balarabe.
In her remarks, Dr. Balarabe assured the Minister of Kaduna State Government readiness to partner with the Federal government and the Ministry to move the Steel industry forward while calling on the Ministry to pay attention to the State as it is one of the homes of Steel and natural resources.
Earlier in his address, the Director General of NSRMEA, Engr. Kolawole Michael Ogunbiyi while welcoming the Honourable Minister to the Agency, promised that the Agency will do all it takes within the available resources to ensure they help the Ministry achieve its mandate of growing the economy towards industrialization and job creation.
He also pointed out some of the Agency’s teething challenges and expressed optimism that the Minister is capable of addressing them.
Also, during his welcome address, the Director General of DICON, Major General Aniedi Effiong Edet assured the the Honourable Minister, Prince Shuaibu Abubarka of of DICON’s willingness to collaborate with the Ministry, especially in the areas of production of military hardwares using Ajaokuta as a base.
The DG of DICON thereafter took the Minister and his entourage on a guided tour of the facility to showcase the enormous resources the Agency possessed, both human and materials.
