FG To Revitalise Steel Sector To Boost Economy
The Federal government is set to revitalise the nation’s Steel Sector for better performance.
The Minister of State for Mines and Steel Development, Alhaji Abubakar Bwari made this known at the just concluded fourth National Steel Summit held in Lagos.
He said the federal government decided to invigorate the Steel sector in order for it to provide adequate raw materials for the Steel industry which relied more on importation of raw materials for smooth operations.
The Minister of State for Mines and Steel Development, said this decision was timely as the nation spent not less than four point six billion Naira on importation of Steel related materials in order to meet the demands of the nation’s Steel industry.
He said the situation of the country could be better as the nation had all the solid minerals including Steel related raw materials that could provide adequate raw materials for the Steel sector if necessary infrastructure required was provided.
Alhaji Abubakar said with the recent funds being released by the federal government, the steel sector would receive a boost.
The Director General National Steel Raw Materials Exploration Agency, Kaduna, Engineer Umar Hassan said that a federal government road-map on Steel related material exploration would assist in re-positioning the Steel industry for better performance.
The Summit which attracted stakeholders in the Nigerian Steel industry is entitled the Diversification of the Nigerian Economy, The Indispensable Role of the Steel Industry.