President Bola Tinubu has assured that by 2030, Nigeria will start producing 10 million tonnes of liquid steel.
By Salisu Sani-Idris
President Bola Tinubu has assured that by 2030, Nigeria will start producing 10 million tonnes of liquid steel.
Tinubu, represented by the Vice-President Kashim Shettima, made this known on Wednesday at the Inaugural Stakeholders Summit on the Development of the Steel Sector in Nigeria, held in Abuja.
The Nigerian leader, however, implored the private sector to join hands with the government in revamping the sector, saying the government cannot actualise the plan alone.
“We aim to create over 500,000 direct and indirect jobs. We have already developed a ten-year roadmap for the sector.
“We have outlined a three-year plan for the operationalisation of Ajaokuta. These plans focus on infrastructure, regulatory reform, and capacity development.”
“But we cannot do this alone. Government can lead. But the private sector must invest. Academia must innovate. Skilled workers must emerge,” he said.
Tinubu restated his administration’s firm resolve to reposition the steel sector as the industrial heart of Nigeria and the hub of the nation’s economic diversification.
He outlined ongoing efforts by his administration to revamp legacy projects in the sector, such as the Ajaokuta Steel Company, the Aluminium Smelter Company of Nigeria, the National Iron Ore Mining Company, and the Delta Steel Company, among others.
The President noted that his administration has since established a solid bureaucracy in ensuring the steel sector becomes the engine for national transformation.
This, he said, followed the creation and reconfiguration of the Ministry of Steel Development on assumption of office in 2023, with a mandate to lead the charge in industrialisation.
“It has been positioned as the fulcrum for economic diversification. It is a signal of our seriousness to extract, process, and commercialise our God-given endowments. For many Nigerians, when we speak of steel, our minds return to Ajaokuta.
“We remember the promise of a crown jewel. For nearly fifty years, we have nurtured the dream of becoming a regional steel powerhouse.
“We are now ready to make that dream a reality. We are not here to mourn missed opportunities. We are here to make the future,” he stated.
Tinubu also outlined some of his administration’s efforts at transforming the sector to include the signing of a Memorandum of Understanding with Tyazhpromexport (TPE) and its consortium.