By Fatima Saka
Nigeria’s Minister for Steel Development, Prince Shuaibu Abubakar Audu, has made a compelling appeal to international investors to consider Nigeria as a leading investment hub in Africa’s steel and metals sector.
Speaking at the International Mining and Resources Conference (IMARC) in Sydney, Australia, on Tuesday Prince Audu emphasized the numerous advantages of investing in Nigeria as part of the “Renewed Hope Agenda” of President Bola Ahmed Tinubu’s administration.
Accompanied by key officials, including the Permanent Secretary, Dr. Chris Osa Isokpunwu, the Minister engaged with top industry leaders and government representatives to attract funding and partnerships aimed at revitalizing Nigeria’s steel industry.
His presentation, titled “The Nigerian Metallurgical Industry: An Unfolding Frontier of Global Investment Haven,” underscored the wealth of natural resources available in Nigeria, such as Iron Ore, Dolomite, Coal, Limestone, Manganese, and Nickel. Nigeria’s advantageous geographic location within Africa, with easy access to both domestic and regional markets, further enhances its investment appeal.
Prince Audu highlighted the recent establishment of the Ministry of Steel Development by President Tinubu in 2023, marking a historic milestone in Nigeria’s drive toward industrialization.
He added that the ministry’s efforts have focused on creating an investor-friendly environment through incentives like tax holidays, export expansion grants, zero-duty on imported mining machinery, and gas utilization incentives.
Emphasizing Nigeria’s strong economy, youthful population, and commitment to sustainable development, the Minister expressed confidence that Nigeria is well-positioned to be a strategic partner for global stakeholders.
The minister’s remarks at IMARC were aimed at encouraging investors to capitalize on Nigeria’s resources and contribute to the country’s industrial growth, GDP, and sustainable economic development.
IMARC, Australia’s premier mining event, provided a platform for Nigeria to showcase its industrial potential and foster collaboration with global leaders in the mining and steel industries.
