The Minister of Steel Development, Prince Shuaibu Audu has encouraged indigenous steel companies to meet international standards in their operations, as the Federal Government is intent on making the steel sector work again.
Speaking during a two-day visit to KAM Holdings Ltd, the minister expressed his commitment to revitalising Nigeria’s steel sector and making it work towards economic growth. He noted that the sector has the potential to provide millions of jobs for Nigerians and industrialize the country.
During his visit, the minister emphasised the importance of supporting indigenous steel companies across the country to produce optimally to meet both local and international consumption. He also stated that aside from wooing foreign investors, the ministry is committed to helping the indigenous companies grow to meet international best standards.
The minister’s visit shows his commitment towards attaining the mandate of the ministry. The governor of Kwara State and chairman of Nigeria’s Governors’ Forum, AbdulRahman Abdulrazak expressed his appreciation for the minister’s visit. He also urged the ministry to consider partnering with KAM Holdings Ltd in the revival of Ajaokuta Steel Company, as making Ajaokuta work is crucial to the industrialisation of the country.
The vice-chairman of KAM Holdings Ltd, Dr. Iyadunni Yusuf appealed to the ministry to protect the indigenous steel manufacturing sector. She emphasised that it plays a critical role in providing materials for building infrastructure, automobiles, engineering, defense and being the bedrock of industrialisation.
The steel sector can provide large scale jobs for the people and industrialise the country. However, the sector has been dominated by foreign-owned companies until KAM Holding Ltd came on the scene. KAM Holdings Ltd is home to manufacturing companies of liquid, iron and steel products that are wholly owned by Nigerians.
The steel sector when properly harnessed, can provide large scale jobs for the people and industrialise the country. The minister’s visit will afford him the opportunity to get the true facts in moving the sector forward. The ministry is committed to ensuring that the nation’s steel sector begins to work and is utilised to revitalise the economy for the growth of the Gross Domestic Product (GDP) of the nation.
The minister’s visit to KAM Holdings Ltd and his commitment to revitalising Nigeria’s Steel Sector are steps in the right direction. The ministry’s willingness to support indigenous steel companies across the country is commendable and it is high time Nigeria started working for Nigerians. The steel sector can be a significant contributor to achieving that goal.
