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- The Federal Government is moving to revive Nigeria’s alloy sector, starting with a sojourn to Premium Steel and Mines Limited successful Delta State
- The curate stated that restoring the works volition make implicit 15,000 jobs and enactment President Tinubu’s extremity of expanding the system to $1 trillion
- Despite past setbacks, the national authorities aims to marque alloy a cardinal operator of concern maturation and economical diversification
Legit.ng writer Victor Enengedi has implicit a decade's acquisition covering Energy, MSMEs, Technology, Banking and the Economy.
The Federal Government is stepping up efforts to revive Nigeria’s struggling alloy manufacture and make thousands of jobs for Nigerians.
A squad led by the Minister of Steel Development, Shuaibu Audu, precocious visited Premium Steel and Mines Limited, formerly known arsenic Delta Steel Company, successful Ovwian-Aladja, Delta State.
Source: UGC
Minister highlights occupation instauration successful alloy industry
During the visit, the curate said President Bola Tinubu has instructed him to hole each the problems preventing the alloy assemblage from growing.
Audu said bringing the works backmost to beingness volition assistance make thousands of jobs, enactment concern development, and fortify the country’s economy.
He added that erstwhile afloat operational, the alloy works could supply implicit 5,000 nonstop jobs and 10,000 indirect ones.
Audu said:
“This plant, erstwhile the cornerstone of Nigeria’s alloy accumulation and a awesome of concern improvement successful the region, indispensable emergence again. We are optimistic that the afloat revitalisation of Premium Steel and Mines Ltd volition make implicit 5,000 nonstop and 10,000 indirect jobs.”Audu was joined by apical officials from the ministry, including the Permanent Secretary, Dr Chris Isokpunwu.
He explained that reviving the alloy industry is portion of Tinubu’s broader economical program to turn Nigeria’s system to $1 trillion.
The curate said the authorities volition enactment superior investors, support prime standards, and assistance section manufacturers succeed.
Lately, determination person been a batch of activities to revive Nigeria's alloy sector. A Chinese multinational, Inner Galaxy Group, earlier announced plans to found a $400 cardinal hot-rolled coiled alloy mill
The factory, which volition beryllium located successful Ewekoro, Ogun State, is anticipated that the installation volition make astir 6,500 nonstop and indirect jobs.
Nigeria's Minister of State for Petroleum Resources (Gas), Ekeperikpo Ekpo, besides secured a committedness from Jindal Group, an Indian firm, for a $4 cardinal investment successful a 10 cardinal tonnes per annum alloy works astatine Ibom Solutions Hub Industrial Park, a escaped portion successful Akwa Ibom State.
Premium Steel to revamp operations successful Nigeria
The Managing Director of Premium Steel, Sahil Vaswani, noted that the institution began upgrading the Rolling Mill successful 2018.
However, they had to halt operations successful 2021 owed to COVID-19 and constricted entree to earthy materials.
Despite these setbacks, helium said the institution is inactive committed to restarting operations and playing a large relation successful Nigeria’s concern future.
The sojourn highlights the Tinubu administration’s renewed determination to marque the alloy manufacture a cardinal portion of Nigeria’s economy, arsenic portion of broader efforts to trim reliance connected lipid and beforehand a much diversified, industrial-based economical structure.
Source: Getty Images
Tinubu appoints caller MD for Ajaokuta Steel Company
Earlier, Legit.ng reported that President Bola Ahmed Tinubu named Nasir Naeem Abdulsalam arsenic the caller Managing Director of Ajaokuta Steel Company.
The assignment was made successful enactment with the amended 2008 Act governing the salaries and allowances of circumstantial governmental and judicial bureau holders.
According to Segun Imohiosen, Director of Information and Public Relations successful the Office of the Secretary to the Government of the Federation, the assignment became effectual connected April 3, 2025.
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Source: Legit.ng
