By ABAH ADAH, Abuja
Nigeria’s Minister of Steel Development Shuaibu Abubakar Audu has revealed that plans are underway to organise the country’s Inaugural Steel Summit to bring stakeholders who would develop a comprehensive blueprint for the Steel Sector’s growth and development.
The Minister disclosed this on Thursday, March 20 , 2025, 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, Kaduna State to ascertain the state of affairs, given the pivotal role the agencies would playin the revolution of the Steel and Metal sector.
Prince Audu, stated that the Ministry under the Renewed Hope Agenda of President Bola Ahmed Tinubu, targets to produce 10 million metric tonnes of steel annually in order to significantly reduce the country’s reliance on imported steel, expressing the hope that “Once our plans are fully implemented in the next five years, we will achieve all our objectives.
He 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.
According to a statement signed by the Principal Information Officer, Mr Ijomah Opia, for the Director, Press and Public Relations in the ministry, the Minister described NSRMEA as a cornerstone in the present administration to grow the nation’s economy to a $1 trillion dollars by 2030.
He said , “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 assessment 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 was 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.
The Minister while in Kaduna paid a courtesy call on the former President, President Mohammadu Buhari, and the Governor of Kaduna State, Senator Uba Sani who was represented by the Deputy Governor, Dr Hadiza Balarabe.
The governor assured the Minister of Kaduna State Government’s 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 Minister to the agency, promised that the agency would do all it takes within the available resources to ensure they help the ministry achieve its mandate of growing the economy towards industrialisation 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.
