The Federal Government, through the Ministry of Steel Development, has requested support from the World Bank for the creation of a steel roadmap and other critical initiatives in Nigeria’s steel sector.
During a meeting with a World Bank delegation at the ministry’s headquarters on Thursday, January 23, 2025, the Minister of Steel Development, Prince Shaiubu Audu emphasised the importance of developing a comprehensive roadmap for the steel sector. He stated that this sector is vital for economic progress and industrialisation and it is crucial to address the current challenges to ensure a sustainable future for steel production in Nigeria.
Audu highlighted the necessity of a strategic plan, asserting that with the right framework, the steel industry can fully realise its potential, create jobs, boost local production and significantly contribute to the country’s GDP.
He outlined several critical areas that need attention in the Roadmap, including: evaluating and determining steel raw materials; developing health and safety guidelines for the steel sector in Nigeria; designing a national metal scrap policy framework; establishing a National Steel Laboratory for quality assurance; and creating an online portal for tracking steel and other metal products imported into the country.
The minister stated that focusing on these key areas will help create a conducive environment for the steel industry to thrive and compete on a global scale.
In her remarks, the leader of the World Bank delegation, Noora Arfaa expressed the World Bank’s willingness to provide oversight and support for the preparation of a roadmap for the steel industry in Nigeria.
She noted that the World Bank has an outlined work programme and activity plan set to begin in January 2025, aiming to draft and adopt the Roadmap by August 2025. Arfaa urged the ministry to ensure it provides the necessary data, stating that the roadmap’s objective is to prioritise actions that will stimulate investments across the extraction of minerals, thereby promoting economic diversification and sustainable development.
