FG reiterates commitment to rejig steel sector, moves to ban steel importation

In a bid to revive the steel sector and encourage the local steel manufacturing industry, the Federal Government is considering total ban on steel importation. This was announced by the Minister for Mines and Steel, Architect Olamilekan Adegbite.

While speaking during a visit to a steel manufacturing industry in Ilorin, Kwara State, Kamwire Industry Limited, Adegbite reiterated the Federal Government’s commitment in creating an avenue for job opportunities in the steel sector by encouraging local investors in mine and steel.

According to DailyTrust, Adegbite said, “First, we are working with Standard Organization of Nigeria (SON) to address the issue. The ministry is not in control of the quality of steel products that come into the country, though we’re responsible for steel productions. We’ll work with the standard agency to control what comes in. 

“The ultimate aim is to ban steel importation totally. But before we do that, we will ensure we’re able to satisfy local consumption from local production and still have excess to export. That’s where we’re heading. 

We welcome local industrialization and local entrepreneurs. We want to encourage them. I can see depth of backward integration here, from raw material to finished product. 

“This is an example of what Nigeria should do. If you do this, you can imagine this complex providing over 4,000 employment opportunities. If we have replication of this all over the country, it will reduce rate of restiveness and banditry we have in the country.”

What you should know: If the steel sector is revived and smuggling of substandard roofing sheets is stopped, it will encourage local steel manufacturers. Also, jobs will be created and the challenge of unemployment will be eased up in the country. Reports according to the Social Integrity Network (SINET) have it that Nigeria lost one million tons of steel manufacturing products and about 30,000 jobs between 2017 and now.

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