Nigeria’s Minister of Steel Development Prince Abubaker Audu has cried out, noting that Nigeria spends not less than four billion dollars annually for steel importation.
The minister made this know at an interactive session with journalists covering the beat in Abuja, yesterday.
Prince Audu stressed that Nigeria have more than 90 per cent of materials needed for production of Steel in the country.
He further added that President Bola Tinubu’s seriousness in revitalising the steel industry in the country triggered the creation of the steel ministry.
Speaking on the revitalisation of Ajaokota steel, the minister restated that the plant would be resurrected in three years time adding that the plant required about two to five billion dollars to be revived.
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“The steel industry has been struggling since independence. Despite having more than 90 percent materials needed for steel production in the country,” he noted.
Prince Audu therefore called on Nigerians to join hands together, saying everyone has a role to play in the revitalisation of the steel industry which is significant for the development of the economy.
Earlier in her welcome address the permanent secretary, Dr Mary Ogbe, noted that it was the relevance of the steel industry to the economic development that made the president to create the steel ministry.
In another report, Minister of Information and National Orientation, Mohammed Idris Malagi, stated that President Bola Tinubu is in need of additional time to implement economic reforms aimed at fostering the growth of the nation.
The minister staunchly advocated for Tinubu’s visionary, long-term strategies, emphasizing their indispensability for the nation’s growth.
Malagi implored Nigerians to exercise patience as reforms take root, emphasizing that the fruits of the long-term plan require time to manifest.
Acknowledging the president’s relatively short time in office, he cautioned against hasty assessments, while also emphasizing Tinubu’s unmistakable vision of steering Nigeria toward the envisioned prosperity.