In a significant move to revitalize Nigeria’s steel sector, President Bola Ahmed Tinubu has announced a strategic target to produce 10 million tonnes of liquid steel by 2030.
According to him, the target is aimed at generating over 500,000 jobs in the industry.
President Tinubu stated this during the opening ceremony of the maiden National Steel Summit, held at the NAF Conference Centre in Abuja on Wednesday.
Represented by Vice President Kashim Shettima, he reiterated the urgent need to reform Nigeria’s steel industry gear towards achieving self-sufficiency, conserving foreign exchange, and establishing a robust industrial foundation to drive economic growth for future generations.
About the long-dormant Ajaokuta Steel Company, the President described it as a “monument to abandoned ambition”, emphasizing the project’s historical significance and its potential role in national sovereignty.
While stating that steel is vital for industrial development and national strength, he asked rhetorically “How can we build, manufacture, or defend ourselves without the material that enables all three?”
Earlier, the Minister of Steel Development, Prince Shuaibu Abubakar Audu harped on the significance of the Summit, saying it will reposition Nigeria’s steel industry as a regional hub in Africa.
The Minister, in his welcome remarks emphasized the importance of infrastructure development and policymakers to address existing gaps in national development plans.
The Ministry’s Permanent Secretary, Dr. Chris Isokpunwu noted that the summit would facilitate robust discussions and innovative solutions to enhance the steel sector’s global competitiveness.
The Minister of Solid Minerals, Dr. Dele Alake, and the Minister of Transportation, Sai’du Ahmed Alkali, the Minister of Industry, Trade and Investment, Dr. Jumoke Oduwole,
Chairman, Senate Committee on Steel, Senator Patrick Ndubueze were in attendance. The Minister of Marine and Blue Economy, Adegboyega Oyetola was represented.
Spark News Naija reports that the Summit also featured goodwill messages from the Ministers and other dignitaries, stressing the need to rejuvenate Nigeria’s steel industry.