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FG Vows To Accomplish Steel Development Target



Leadership Nigeria News Today

The federal government has assured of her commitment to accomplishing the steel development target of the country in good time. Minister of State for Mines and Steel Development, Abubakar Bawa Bwari, while delivering his speech at the 4th International Conference and Exhibition in India tagged: “India Steel Expo 2019.”

Bwari, who led the  Nigerian delegation consisting the technical heads of regulatory agencies in the sector and the Manufacturers Association of Nigeria (MAN) to the event, used the occasion to invite interested investors to come to Nigeria and invest in the sector, adding that the ease of doing business in the country has significantly improved through the concerted efforts of the present administration.

“We are here to assure you of our commitment to accomplish our steel development targets in record time. We want to assure investors that we are committed to providing a conducive environment for steel production and business to thrive.

“I want to conclude by inviting all genuine investors in the industry to explore the opportunities available in the Nigeria steel sector in view of the conducive business climate, abundant steel raw materials and the obvious huge market due to its population, as well as the scope of our infrastructural development projections.

He said the country spends about $3.3million on importation of different steel products according to the Nigerian Bureau of Statistics (NBS) report, a gap he said presents great opportunities for investment.

According to him, Nigeria has a huge unrealised potential for steel demand growth.

“This is suggested by the apparent steel use per capita for finished steel products, which stood at less than 10 kg in 2017, far below the world average of 214.5 kg, according to the Word Steel Association,” he noted.