Nigeria’s Ministry of Steel Development Forges Partnerships to Achieve Goals

The Nigerian Ministry of Steel Development is actively pursuing its objectives by engaging with a range of stakeholders in the industry. This initiative aligns with the Renewed Hope Agenda of Nigeria’s Bola Tinubu’s Administration, which seeks to promote sustainable development.

Uba Ahmadu, the Minister of State for Steel Development, has underscored the Ministry’s responsibility to ensure that the nation’s steel sector contributes to the economic growth and Gross Domestic Product (GDP). In a recent meeting with Aisha Rimi, the Executive Secretary/CEO of the Nigerian Investment Promotion Commission, in Abuja, he emphasized the Ministry’s efforts to collaborate with the Commission for the advancement of the sector. This includes the revitalization and operationalization of the National Steel Raw Materials Exploration Agency (NSRMEA) in Kaduna and the National Metallurgical Institute in Onitsha.

Ahmadu also emphasized the necessity for local and international investment forums to demonstrate the full potential of the NMTI in order to attract investments and funding for the modernization and upgrading of the institute’s facilities. Furthermore, he outlined other areas of collaboration, such as the development of curriculum and training programs to meet international standards, policy reforms and incentives, and regulatory reforms that would contribute to national manpower and infrastructure development.

The Minister also identified the identification of local and international investors, and the establishment of a Public-Private Partnership (PPP) framework for the revival of NMTI as part of the collaboration efforts. Additionally, he mentioned the partnership with NIPC to accelerate investment interest in exploration projects for steel raw materials and emphasized the importance of advocacy for policy reforms and incentives.

In line with these efforts, Nigerian Extraction Company Ltd has submitted a proposal for the establishment of a $300m Steel Plant in Niger State, indicating a positive outlook for the future of the steel sector.

The Permanent Secretary, Ministry of Steel Development, Dr. Mary Ogbe, expressed optimism about the collaboration between the Ministry and the Nigerian Investment Promotion Commission. She proposed the establishment of a Technical Working Group (TWG) to develop a framework for enhancing the development of the sector. Aisha Rimi, the Executive Secretary/CEO of the Nigerian Investment Promotion Commission, reaffirmed the Commission’s commitment to supporting the steel sector and promoting foreign direct investment into the country.

This collaborative approach between the Ministry of Steel Development and the Nigerian Investment Promotion Commission is a significant step towards achieving the development goals set for the steel sector in Nigeria. With a clear focus on attracting investments, modernizing facilities, and enhancing the capacity of training institutes, the future looks promising for Nigeria’s steel industry.