Editor
The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has reaffirmed the Ministry’s commitment to revitalizing Nigeria’s steel industry as a cornerstone of the nation’s economic diversification agenda under the “Renewed Hope Agenda” of President Bola Ahmed Tinubu.
Speaking during his Ministerial Address at the opening of the 2024 Mining Week in Abuja on Tuesday, with the theme “From Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy,” Prince Audu highlighted the Ministry’s strides since its inception just 15 months ago.
He emphasized the Ministry’s efforts to transform the steel sector into a major contributor to the $1 trillion economy envisioned by 2030, citing significant milestones, including the signing of a Memorandum of Understanding (MoU) with the original builders of the Ajaokuta Steel Plant, TPE and its consortium, in Moscow in September 2024.
Key Achievements of Reviving Ajaokuta Steel Plant
Prince Audu detailed the Ministry’s progress that an MoU was signed with Messrs. TPE and its consortium to reactivate the plant after four decades of inactivity.
The selection of a technical audit firm has been finalized, with auditing of the plant scheduled to commence before the year’s end.
High-level discussions are ongoing with the Ministry of Defence and the Defence Industry Corporation of Nigeria (DICON) for the production of key materials for military hardware, utilizing the five engineering workshops at Ajaokuta Steel Company Limited (ASCL).
Following a directive from President Tinubu in July 2024, efforts are underway to resolve the challenges hindering operations at the Aluminium Smelter Company of Nigeria (ALSCON).
The Ministry is collaborating with the National Assembly for the speedy passage of bills such as the National Metallurgical Training Institute (Onitsha) Establishment Bill, the Metallurgical Industry Bill, and amendments to the National Steel Council Act.
A 10-year roadmap has been developed, targeting an annual production of 10 million tonnes of crude steel and other metallic products. This document will serve as a guide for industry stakeholders and prospective investors.
Declaring the event open, President Bola Ahmed Tinubu, represented by the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji, reiterated the Federal Government’s dedication to repositioning Nigeria’s solid minerals, mining, steel, and metals sectors.
“I urge all stakeholders to harness this momentum and work together towards our common vision. Under the capable guidance of Minister Dele Alake, the Ministry of Solid Minerals Development has set a standard that promises prosperity for every Nigerian. Together, we will make Nigeria’s mining sector a cornerstone of national pride and sustainable development,” he added.
The Minister of Solid Minerals Development, Dr. Dele Henry Alake, highlighted the transformation in the sector under the Renewed Hope Agenda, driven by new policies and strategies.
The event was attended by key government officials, including: Sen. Abubakar Atiku Bagudu CON, Minister of Budget and Economic Planning, Mohammed Badaru CON, Minister of Defence, Mohammed Idris, Minister of Information and National Orientation, Sen. Ekong Samson, Chairman, Senate Committee on Solid Minerals Development, Hon. Jonathan Gaza Gbefwi, Chairman, House of Representatives Committee on Solid Minerals, Hajiya Hadiza Bala Usman, Special Adviser to the President on Policy Coordination
Distinct News reports that the 2024 Mining Week underscored the Federal Government’s unwavering commitment to positioning the mining and steel sectors as pivotal contributors to Nigeria’s economic prosperity.
