Senate vows to address challenges confronting Steel Industry in Nigeria

The Nigerian Senate has vowed to address challenges confronting steel development, saying that there was a need to also call for stakeholders’ conferences to look into those challenges, given that the steel sector is critical to the socio-economic development of the nation.

The Chairman of the Senate Committee on Steel Development, Patrick Ndubueze, stated this during the Committee’s oversight visit to the Minister of Steel Development in Abuja, on Monday.

The lawmaker said, the Ministry of Steel Development remains a vital agency of the government that galvanizes the industry in line with the vision of steel development for the country, hence, lawmakers would work with the Ministry to ensure that iron and steel is developed to full capacity.

Senator Ndubueze said: “The National Assembly will continue to play its constitutional role in ensuring that all Steel Industry in Nigeria resumes production.

“Stakeholders Conference that will proffer solutions to the current challenges in the steel industry would be convened to revive all moribund steel industries in the country.

The lawmaker assured the Ministry of legislative support that would enable them to consider the use of technology in carrying out research and steel development, insisting that Nigeria must be able to meet its local consumption needs.

Responding, the Minister of Steel Development, Prince Shuaibu Abubakar Audu expressed gratitude for lawmakers’ concern on the need for Iron and Steel development in Nigeria, stressing that there was no alternative to Iron and Steel development if the nation must attain its goal of greatness.

Audu assured lawmakers that the Iron and Steel industry would be revived, given the readiness of the current administration and the support the Ministry has so far gotten from the parliament.

According to him, the ministerial team visited Russia some time ago and it has started yielding results as Russians have expressed their willingness to revisit the Ajaokuta Iron and Steel to revive the plant.

The Minister said: “In accordance with the Renewed Hope Agenda of President Bola Tinubu, we have visited Russia and I am happy that they are more than willing to revisit the Ajaokuta Iron and Steel for purposes of reviving the plant.

“If the Ajaokuta comes on stream, there would be job opportunities for the teaming youths.

“It was the legal challenge which the previous administration caused due to privatization that slowed down the revival of Ajaokuta and Itakpe Iron Ore, but that has been put behind now.”

The Minister promised to work with the National Assembly and stakeholders in the industry to revive the sector and other rolling mills across the country.

Senate vows to address challenges confronting Steel Industry in Nigeria