The Minister of Steel Development, Prince Shuaibu Abubakar Audu at the event
By Victoria Onehi
The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has said the steel sector will contribute significantly to the $1 trillion economy by year 2030.
The Minister said the Ministry is driving strong initiatives to revive the steel industry and ensure that the sector becomes operational and a great contributor to the GDP.
Prince Audu made this known whilst delivering his address at the opening of the 2024 Mining Week on Tuesday, November 19, 2024, in Abuja with the theme “From Inside Out: Building the Mining Sector to be the Cornerstone of Nigeria’s Economy.”
According to a statement by Head Press and PR of the Ministry,Salamatu F. Jibaniya, the Minister said that in just fifteen months since the creation of the Ministry, it had made historic milestone achievements to actualise the vision of President Tinubu to make the steel sector a major contributor to a $1 trillion economy by year 2030.
He added that the signing of the Memorandum of Understanding (MoU) between the Federal Government and the original builders of the Ajaokuta Steel Plant, TPE and its consortium, in September 2024 in Moscow, Russia, was a great feat in the revival efforts of the Ajaokuta plant, which has been comatose for over four decades.
“We have taken this mandate since assumption of office on August 21, 2023, with every sense of responsibility and the following milestones/activities were recorded.
“We recently signed an MoU with the original builders of the Plant, Messrs. TPE and their partners in Moscow, Russia. The procurement process for the selection of the technical audit firm has been completed, and the auditing of the entire plant will commence before the end of the year.
“We are having high level discussions with the Ministry of Defence and Defence Industry Corporation of Nigeria (DICON) to also sign an MOU for the production of major input materials for the manufacturing of military hardwares using the Five (5) Engineering Workshops in ASCL.
“On reviving the Aluminium Smelter Company of Nigeria (AlSCON), a high-level executive meeting with Mr. President was held in July 2024, and we were given a matching order to ensure that all issues encumbering the commencement of operation be resolved.
“We are collaborating with the National Assembly Committees on Steel Development for quick passage of the following bills: the National Metallurgical Training Institute, Onitsha Establishment Bill; Metallurgical Industry Bill; and amendment of National Steel Council Act.
“We have developed an in-house Ten (10) year sectoral Roadmap for the sustainable growth of the sector with a target production of 10 million tonnes of Crude Steel and other metallic products annually. The final Roadmap document would provide guidance to all industry players and prospective investors on the policy direction of the Federal Government of Nigeria,” Audu said.
Declaring the event open, President Bola Ahmed Tinubu GCFR assured of the commitment of the Federal government to reposition the Solid Minerals, Mining, Steel and Metals Sectors within the shortest possible time.
President Tinubu, who was represented by the Minister of Innovation, Science, and Technology, Chief Uche Geoffrey Nnaji, commended the Minister of Solid Minerals Development, Dr. Dele Henry Alake for the remarkable strides in the sector under his leadership.
“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. Let us continue this journey with unity, ambition and the conviction that Nigeria’s mineral wealth will transform our nation’s future.
“Together, we will make Nigeria’s mining sector a cornerstone of national pride and a pillar of sustainable development for generations to come. May our efforts be blessed, and may Nigeria’s future be bright,” President Tinubu stated.
Minister of Solid Minerals Development and lead host of the event, Dr. Dele Henry Alake, said that the Solid Minerals Sector has recorded significant transformation under the Renewed Hope Agenda of President Bola Ahmed Tinubu GCFR by putting new policies in place.
Also present at the event were the Minister of Budget and Economic Planning, Sen. Abubakar Atiku Bagudu CON, Minister of Defence, Mohammed Badaru CON, Minister of Information and National Orientation, Mohammed Idris, Chairman Senate Committee on Solid Minerals Development; Sen. Ekong Samson, Chairman House of Representatives Committee on Solid Minerals; Hon. Jonathan Gaza Gbefoi; Hajiya Hadiza Bala Usman, Special Adviser to the President on Policy Coordination, among others.
