The federal government is working on a 10-year roadmap for the revival of the steel industry in the country, the minister of Mines and Steel Development, Shuaib Audu, has said.
Audu disclosed this yesterday in Ilorin, Kwara State, during the tour of facilities at KAM Holdings Ltd – manufacturer of steel products.
This is just as Kwara State governor, AbdulRahman AbdulRazaqsaid Nigeria’s industrialisation efforts will yield awesome results once the country maximises its steel potentials through the proposed reforms by President Bola Ahmed Tinubu.
The minister added:” We are working on a 10-year roadmap for the revival of the steel industry in the country. We have engaged some consultants to help us get inputs from indigenous steel companies in the country to get the job done.
“We must ensure that we rid our market of substandard steel products to forestall incidences of building collapse in the country.
“President Bola Tinubu wants to encourage local investors. Consequently, we have engaged the original developers of the Ajaokuta Steel (the Chinese consortium) to work on it. We want to create an industrial park where various steel companies will benefit from Ajaokuta Steel and improve the country’s GDP.
For his part, Governor AbdulRazaq who spoke while receiving the minister at the Government House, Ilorin, said the move by the federal government to revive Ajaokuta Steel Company is sacrosanct and key to the industrialisation drive.
He urged President Tinubu to consider Kwara’s KAM Holdings Limited to take over the operation of Ajaokuta Steel Production, citing the prominent contributions of the company (KAM) to the sector in Nigeria.
Kwara is arguably the second largest steel production in Nigeria today through activities of KAM Holdings led by Alhaji Kamoru Yusuf, according to the governor.
“As you know, Ajaokuta is an albatross, and we are very confident that the company will untie the issues there and make the industry come to fruition. When Ajaokuta was established, it was in Kwara state.
“Once again, you are welcome to Kwara. I hope you have a great time here. And the fact you will see will convince you that KAM Holdings is the right company to take over the Ajaokuta Steel Company.
It will benefit our country and our state,” the governor added.
He commended the minister for championing the process to revive Ajaokuta, including picking Kwara as their first choice for the fact-finding visit.
“I must commend you for stepping out of your office to get the facts right before you formulate a policy for the development of the steel sector. This is highly commendable because going round will enable you to get firsthand facts in moving this sector forward.
“Kwara is arguably the second largest steel production in Nigeria today through activities of KAM Holdings led by Alhaji Kamoru Yusuf. We hold him in high esteem. His investment should be in trillions of naira.
“This is an industry which could have been located for economic reasons in the Ogun – Lagos southern axis, but for his patriotism and love for his state it is located in Kwara. So, we commend him for that. And I am making a very strong pitch for KAM Holdings in the future of Ajaokuta Steel Production and projects,” AbdulRazaq said.
