Steel: FG, Stakeholders
Steel: FG, Stakeholders meet to Actualise
ERPG
A meeting of Stakeholders held in Abuja has re-emphasized the
critical role of steel sector as an ingredient for
industrialization drive in Nigeria.
Ministry of Budget and National planning coordinated the meeting
on the Steel Sector Development, given the economic value of the
sector.
The meeting which was attended by various experts from the steel
industry, holistically looked at problems the sector has been
facing in the country with Ajaokuta steel company as a case
study.
The Economic Recovery and Growth Plan (ERGP) developed by the
Ministry of Budget and National Planning has a high premium on
industrialization which cannot be adhered to without strengthening
of the iron and steel sector.
Permanent Sectary, Ministry of Budget and National Planning, Mr
Olajide Odewale, in his remarks stated that the development of the
steel sector is critical for the economic diversification of the
federal government as enshrined in the ERGP, while pointing out
that the steel sector provides the foundation and needed impetus
for industrialization globally.
Mr. Odewale further stated that, sustainable and rapid economic
growth cannot take place in any economy without a functional steel
sector that produces the needed intermediate products for its
industrial drive, while maintaining that, given her enormous
resource endowment, Nigeria has the potential of becoming a major
player in the global steel economy
The meeting which was buttressed with paper presentations from
private players in the steel sector of the economy, however agreed
that, government should focus on the completion of Ajaokuta steel
company, considering the fact that other countries which started
actualization of steel based economy with Nigeria have achieved
tremendous progress
The meeting further recommended the setting up of a National
Task Force Committee on revitalization of Ajaokuta steel company to
find out the remote and immediate causes of the steel project
failure in the Country
Signed
Salisu B. Haiba
(Assistant Director).
For: Director (Information)