The Ministry of Steel Development has entered into a partnership with the Nigerian Investment Promotion Commission (NIPC) to revitalise and operationalise the National Steel Raw Materials Exploration Agency (NSRMEA) in Kaduna and the National Metallurgical Institute in Onitsha.
The collaboration aims to ensure that the nation’s steel sector significantly contributes to sustainable economic development and GDP growth and align with the ‘Renewed Hope’ agenda of the Bola Ahmed Tinubu administration.
The Minister of State for the Ministry of Steel Development, Uba Ahmadu disclosed these plans during a meeting with the executive secretary of the NIPC, Aisha Rimi at the ministry’s headquarters in Abuja on Thursday, November 23, 2023.
The minister outlined various areas of collaboration, emphasising the importance of organising local and international investment fora to showcase the potential of the National Metallurgical Training Institute (NMTI). This effort is aimed at attracting investments for modernising and upgrading the institute’s facilities, curriculum, and training programs to meet international best standards.
Other collaborative efforts include developing policy reforms and incentives in legal, governance, finance, tax incentives and regulatory reforms to reposition the institute. The partnership also aims to identify local and international investors who can inject technical and financial capital into revitalising the institute and establishing a Public Private Partnership (PPP) framework for the revival of NMTI.
The minister expressed optimism about the potential impact of the collaboration, noting that Niger Extraction Company Ltd, a Nigerian company registered for mining and steel development, has proposed a $300 million steel plant in Niger State. He sees this as a positive indicator that the steel sector is poised to fulfil its mandate.
Ahmadu conveyed the ministry’s readiness to leverage the expertise and networks of NIPC, emphasising that the collaborative efforts of both organisations would attract private sector investment, modernise exploration techniques and enhance the capacity of NMTI and NSRMEA to fulfil their mandates.
The permanent secretary of the Ministry of Steel Development/Ministry of Solid Minerals Development, Dr. Mary Ogbe expressed optimism about the collaboration, considering it a step in the right direction. She reiterated the ministry’s commitment to achieving the goals set during the deliberations, emphasising that it is time for the steel sector to bring prosperity to the people of Nigeria.
A statement by the ministry’s head of press and public relations, Tine-Iulun M.A said Ogbe proposed the establishment of a technical working group (TWG) with members drawn from the Ministry of Steel Development and NIPC. The TWG, consisting of sector-specific experts, will develop a framework to enhance the overall development of the sector and specifically address the needs of the National Metallurgical Institute in Onitsha and the National Steel Raw Materials Exploration Agency (NSRMEA) in Kaduna.
Rimi stated that the commission’s mandate is to provide assistance to investors seeking to enter the country or those already present. She highlighted NIPC’s commitment to assisting the steel sector and promoting direct foreign investment into the country.
