MINISTER OF STEEL DEVELOPMENT VISITS LEADING INDIGENOUS STEEL PRODUCER, KAM INDUSTRIES, SAYS FG KEEN ON ENCOURAGING INDIGENOUS PLAYERS ...Kwara Governor and Chairman Nigeria’s Governors Forum, Abdulrahman Abdulrasak expresses confidence in Prince Audu As the Federal Government commits to industrialising Nigeria through the Steel and Metals Sectors, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, embarked on a two-day working visit to leading indigenous player, KAM Industries in Kwara and Ogun States. The two-day visit of the Honourable Minister from May 7 to May 8 2024, to KAM’s steel production factories in Jimba Oja, Kwara State, and Sagamu in Ogun State aims to assess the steel production by the company. Prince Audu, during his courtesy call to the governor of Kwara State and Chairman, Nigeria’s Governors Forum, Mal. Abdulrahman Abdulrasak CON, reiterated the commitments of President Bola Ahmed Tinubu GCFR to reviving the nation’s Steel and Metals Industry in a bid to diversify and grow the Nigerian economy to over one trillion dollars before the end of his administration. The Honourable Minister further noted that his visit to KAM Steel, a subsidiary of KAM Holding, is also to encourage indigenous players in Nigeria’s steel sector, commending the Chairman and Group Managing Director of the company, Alhaji Kamoru Yusuf MON, for such massive investments, which has significantly contributed to Nigeria’s economy by employing over 20,000 Nigerians and pumping hundreds of billions of Naira into the economy. “My visit to Kwara State is to encourage indigenous players in the steel industry. We have been discussing across board with some foreign investors that are interested in coming to Nigeria, but I also thought it imperative to also associate, pay a visit, and support indigenous players that are doing extremely well in the steel and metals industry in Nigeria. KAM Holding is the leading indigenous steel company in Nigeria. “Under the renewed hope agenda of President Bola Ahmed Tinubu GCFR, one of his cardinal objectives is to grow the size of Nigeria’s GDP to over 1 trillion dollars by the end of his second term in office. And part of what we have to do to enable us to achieve that is to focus on industrialization. “Industrialization has the capacity to create millions of jobs, and Mr. President wants to provide more than 80 million jobs for Nigerians over the next eight years of his administration, and the steel industry is going to play a very key role in that regard. “So, under the eight-point agenda of Mr. President, certain things have to be put in place to ensure that Nigeria is working for Nigerians. “I am here to first of all pay my respect and acknowledge the Executive Governor of Kwara State for doing such a wonderful job across the sub-sectors of the economy for the people of Kwara,” Prince Audu said. In his remarks, the Executive Governor of Kwara State and Chairman of Nigeria's Governors' Forum, Mal. AbdulRahman Abdulrazak, commended the Honourable Minister for the visit to the site to see for himself the true facts before setting up policies for moving the industry forward. Gov. Abdulrazak also expressed confidence in the leadership of Prince Audu as Minister to get the steel industry of the country right, urging the ministry to consider including KAM Holdings as an indigenous partner in its revival plans for Ajaokuta. “Kwara holds the second largest steel production in Nigeria through the activities of KAM Holdings, led by Alhaji Kamaru Yusuf. We hold him in high esteem here; his investment is in trillions of naira. "Making Ajaokuta work is an albatross, which we are confident you will unite the issues there. Without getting the steel sector right, Nigeria cannot be industrialised," Gov. Abdulrazak said. In her welcome address, the Vice Chairman, KAM Holding Ltd, Dr. Iyadunni Bolanle Yusuf, revealed that in the past, the steel sector was dominated by foreign owned companies until KAM Holding Ltd came on the scene, noting that KAM Holding Ltd is home to manufacturing companies of liquid, iron, and steel products that are wholly owned by Nigerians. Dr. Iyadunni Bolanle Yusuf appealed to the Ministry to ensure it protects the indigenous steel manufacturing sector, as it plays a critical role in the growth and development of the country by providing materials for building infrastructure, automobiles, engineering, defence, and being the bedrock of industrialisation. The Honourable Minister also paid a courtesy visit to the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari.

WE WILL MAKE NIGERIA’S STEEL SECTOR WORK -PRINCE SHUAIBU ABUBAKAR AUDU In a bid to harness the nation’s steel for economic growth and achieve its mandate of revitalising the nation’s Steel Sector to meet both local and international consumption, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu who is on a Two-Day Working tour of KAM Holdings Ltd to encourage them as well as address pertinent challenges they may be facing, disclosed that the Ministry, under his watch, will actualise the revival of the Steel Sector and make it work. During his courtesy visit to the Executive Governor, His Excellency, AbdulRahman Abdulrazaq in Ilorin, Kwara State on Tuesday 7th May 2024, Prince Audu noted that the “Renewed Hope Agenda” of the Present Administration is committed towards ensuring that the nation’s steel sector begin to work and utilized to revitalise the economy for the growth of the Gross Domestic Product (GDP) of the nation. The Honourable Minister expressed the Ministry’s willingness to support indigenous Steel Companies across the country to produce optimally to meet both local and international consumption. He said “we are here to show support to indigenous Steel Companies that can help provide millions of jobs for Nigerians. The Steel Sector when properly harnessed, can provide large scale jobs for the people and industrialize the country”. He further noted that aside from wooing foreign investors, the Ministry is committed to helping the indigenous companies grow to meet international best standards, adding that it was high time we ensured that “Nigeria is working for Nigerians”. In his remarks, the Executive Governor of Kwara State and Chairman of Nigeria’s Governors’ Forum, AbdulRahman Abdulrazaw, noted that the Minister’s visit shows his commitment towards attaining the mandate of the Ministry. He noted that the visit will afford the Minister to get the true facts in moving the sector forward. The Governor entreated the Ministry to consider KAM Holding Ltd should it need the input of an indigenous Steel Company to partner in the revival of the Ajaokuta Steel Company, adding that making Ajaokuta work is the albatross that would untie industrialization of the country. He said, “without getting the Steel Sector right, Nigeria cannot be industralized”. In her welcome address, the Vice Chairman, Kam Holding Ltd, Dr. Iyadunni Bolanle Yusuf, revealed that in the past, the Steel Sector was dominated by foreign owned companies until KAM Holding Ltd came on the scene, noting that KAM Holding Ltd is home to manufacturing companies of Liquid, Iron and Steel Products that are wholly owned by Nigerians. Dr. Iyadunni Bolanle Yusuf appealed to the Ministry to ensure it protects the indigenous Steel manufacturing sector as it plays a critical role in the growth and development of the country by providing materials for building infrastructures, automobiles, engineering, defense as well as being the bedrock of industrialization. The Honourable Minster also paid a courtesy visit to the Emir of Ilorin, Ibrahim zulu-Gambari.

AJAOKUTA STEEL: MINISTER OF STEEL DEVELOPMENT ENGAGES RUSSIA’S TPE CONSORTIUM ON REVIVAL The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, has engaged a consortium led by the original developers of Ajaokuta Steel Company Limited (ASCL), Tyamzhpromexport (TPE), to revive the steel plant. The Honourable Minister, who met with the consortium comprising a team from Russia’s TPE/Rostec, Novostal, and Nigeria’s Proforce in his office on Thursday, 25th April 2024 in Abuja, urged them to put together a blueprint for the revival of the Steel Plant within the shortest possible time. This, he says, is in line with President Bola Ahmed Tinubu’s “Renewed Hope Agenda”, which is keen on ensuring the production of steel in the country and industrialising Nigeria through the Steel Sector before the end of his first term in office. The Honourable Minister Audu said following the meeting, he intends to visit Moscow on a formal invitation from TPE and other consortium partners to engage in further discussions to secure funding to the tune of about $2 billion, which is required for the revival of the entire steel plant. The Honourable Minister thanked the Embassy of the Russian Federation in Nigeria for facilitating the meeting with the TPE Consortium, which, if gotten right, will be a monumental success in driving Nigeria’s economy through industrialisation. Mr. Sergei Egorov, General Director of TPE and leader of the Consortium commended the Honourable Minister for the steps he has taken so far in putting together the Consortium for the resuscitation of the steel plant, which has been moribund for years. Egorov and his team of technical experts, who had earlier gone on a tour of the Steel Complex a few days earlier, noted that the plant was still in a state of possible resuscitation, indicating their interest in putting together a business case for the government. “We came with our technical experts and are quite impressed at the current state of the Ajaokuta Steel Plant. We would do a full technical audit of the plant and then take a final decision”. “We are happy to come on board the resuscitation of the steel plant for the benefit of Nigerians,” Egorov said. Mr. Valery Shaposhnikov, Deputy Head of the Russian Embassy in Abuja, Nigeria, also commended the potential partnership, which he says would be carefully reviewed for the mutual benefit of both countries. He expressed optimism in the vision of President Bola Ahmed Tinubu GCFR to revive Ajaokuta, adding that this is the first time since the Shehu Shagari Administration in 1979 that a Nigerian government is showing great political will in getting the Steel Plant operational again.