Minister of Steel Development, Prince Shuaibu Audu Abubakar, has disclosed a slew of measures that will be taken to support the growth of the steel industry in the country and particularly the plans to put the Ajaokuta Steel Company’s premises to good use.
Recall that President Bola Tinubu had in January this year approved the constitution of a committee tasked with reviving the Ajaokuta steel plant to make it contribute to the growth of the nation’s economy.
The committee comprises Minister of Steel Development, Minister of Finance and Coordinating Minister of the Economy, Minister of Industry, Trade and Investment, and the Minister of Solid Minerals.
Giving his speech during his visit to the head office of KAM Holding Nigeria Limited , Asa-Dam road, Ilorin, Kwara state, on Tuesday, Prince Shuaibu Audu Abubakar, also disclosed that the President Bola Tinubu administration would be coming up with a 10-year road map for the revival of the steel industry in the country while also talking about plans to put the moribund Ajaokuta Steel Company’s premises to good use.
He also noted that ensuring quality steel products will help to prevent building collapse in the country.
‘And one of the key things that we are doing is that we are planning to roll out a 10-year road map for the revival of the steel industry. We’ve developed an in-house 10-year road map for the turnaround of the steel industry and an in-house road map for the revival of the Ajaokuta steel company. But that document cannot be complete without getting the input of all the external stakeholders.
So , what we are currently doing is to engage some consultants that will work hand in hand with leading players in the steel industry including Kam Holding to get all these various inputs that were mentioned during the opening remarks and during the welcome remarks of the vice chairman, in terms of how we can move the steel industry forward. We need to put a regulatory framework in place.
We need to ensure that the standard of steel that is being produced locally is up to scratch. You know we hear stories of collapsed buildings and things like that because some players are cutting corners and those types of things need to be avoided which was what the vice chairman had pointed out in her remarks’ he said.
The minister also disclosed plans to put the Ajaokuta Steel Company premises to good use by establishing an industrial park there while noting that KAM Holding Ltd would be playing an important role in this respect.
‘The last thing I will mention is in terms of what we are doing with Ajaokuta , it was rightly pointed out recently that we have engaged the original builders of the Ajaokuta Steel Plant, the Russian TP company alongside a consortium to raise financing but the good thing with Ajaokuta like I mentioned earlier is that Ajaokuta sits on 24,000 hectares of land.
So, it’s almost as big as the size of Abuja with 44 different production units. So it’s like 44 companies in one, but Ajaokuta has a capacity of even expanding or scaling up to more than a thousand companies within that jurisdiction. So, part of what we want to do is to also create an industrial park. It is part of our 10-year blueprint, to create an industrial park where you know various steel manufacturing companies will be able to benefit from all the facilities in Ajaokuta and help to improve and increase the overall GDP of Nigeria. I think KAM Holding has a very important role to play in this long term strategy of being part of Ajaokuta industrial park’ he added.
Governor AbdulRahman AbdulRazaq of Kwara state has also submitted that Nigeria’s industrialization efforts will yield awesome results once the country maximizes its steel potentials through the proposed reforms by the President Bola Ahmed Tinubu administration.
He said the move by the Federal government to revive the Ajaokuta Steel Company is sacrosanct and key to the industrialization drive.
The governor also urged President Tinubu to consider KAM Holding Limited to take over the operation of Ajaokuta Steel Production, citing the prominent contribution of the company (KAM) to the sector in the country.
The governor said this during the visit of the Minister for Steel Development, Prince Audu Shuaib Abubakar, to the Government House, Ilorin on Tuesday.
‘As you know, Ajaokuta is an albatross, and we are very confident that the company will untie the issues there and make the industry come to fruition. When Ajaokuta was established, it was in Kwara state.
Once again, you are welcome to Kwara. I hope you have a great time here. And the fact you will see will convince you that KAM Holdings is the right company to take over the Ajaokuta Steel Company. It will benefit our country and our state.
I must commend you for stepping out of your office to get the facts right before you formulate a policy for the development of the steel sector. This is highly commendable because going round will enable you to get firsthand facts in moving this sector forward.
Kwara is arguably the second largest steel production in Nigeria today through activities of KAM Holdings led by Alhaji Kamoru Yusuf. We hold him in high esteem. His investment should be in trillions of naira.
This is an industry which could have been located for economic reasons in the Ogun – Lagos southern axis, but for his patriotism and love for his state it is located in Kwara. So, we commend him for that. And I am making a very strong pitch for KAM Holdings in the future of Ajaokuta Steel Production and projects’ the governor said.
Team@orientactualmags.com learned that those who attended the event include Chief of Staff , Government House, Prince AbdulKadir Mahe; Senior Advisor and Counsellor Alhaji Sa’adu Salau; Commissioner for Solid Minerals Dr Afeez Alabi Abolore; Commissioner for Business, Innovation and Technology ,Hon. Damilola Yusuf Adelodun; State APC Chairman Prince Sunday Fagbemi , among others.
The minister had earlier visited the Emir of Ilorin’s palace where he paid homage to the Emir of Ilorin, His Eminence, Alhaji Ibrahim Zulu-Gambari-Team@orientactualmags.com Do you have any information you wish to share with us? Do you want us to cover your event or programme? Kindly send SMS to 08059100286, 09094171980 or get in touch via orientactualmag@gmail.com. Thank you
