The Minister of Steel Development, Shuaibu Audu, has described the importance of the revival of the steel sector which is critical to the development of the country’s economy.
While speaking on Arise News on Wednesday, Audu said for Nigeria to achieve its target of a $1 trillion economy, steel development must be taken seriously.
The Minister then commended President Bola Tinubu for creating a separate ministry for the sector, and prioritizing such an important aspect of the economy.
On the efforts of his ministry in reviving the steel sector, Audu said policies were being made to match the country’s target. He said:
“One, there has been no proper political will over the last several decades to really turn around the steel industry.
“Before the advent of President Tinubu’s government, there’ve been 10 different presidents that have tried to resuscitate and revive the steel industry, which has proven very, very difficult.
“What the President has done to change the dynamics is to create a stand-alone steel ministry. The work is not an easy task by any means, but Nigerians are expectant, and they expect a lot. And we’ve put a lot of measures in place to try to turn around the story.
“Of particular importance is to, first of all, set up a roadmap, which was put together by an internal team of experts to understand exactly what we’re trying to do, both in the short, medium, and long term.
“We have also put some initiatives in place and taken some far-reaching measures for the likes of Ajaokuta where we’re also working very intensely to revive some of the aluminum companies.
“We’re putting some measures in place to turn around some of the steel rolling mills, which really have not been operational over many, many years, like we mentioned. But, the work is ongoing, and Mr. President is very determined.
“And I think the last thing I’ll say in that regard is that Mr. President understands and believes that under the Renewed Hope agenda that Nigeria has all it takes, and the plan is to increase and make Nigeria a $1 trillion economy by year 2030, and to achieve that, the steel sector is very, very critical.
“Steel is a very critical component for every major thing that an industrial nation needs, whether it’s road, bridges, buildings, and all sorts. So that’s the importance that the President is giving to the industry.”
