FG GEARED TOWARDS SUSTAINABLE RESEARCH DEVELOPMENT IN STEEL SECTOR The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu has reiterated Federal Government’s commitment to improve the country’s economy and grow the Gross Domestic Product through the Steel Sector, by ensuring it establish a sustainable research system for the development of the sector. Prince Audu who was accompanied by the Permanent Secretary, Dr. Mary A Ogbe made this known during his Working Visit to the National Metallurgical Development Centre (NMDC), Jos, Plateau State between Wednesday 28th and Thursday 29th February, 2024. The Minister while emphasizing the need for research in the steel industry, noted that the Sector can only be kept in position to serve its manifold purposes through determined searching and probing that would lead to discovery and improvement products and services in the steel sector. He disclosed that: “The National Metallurgical Development Centre is not just a historical asset, it is a strategic research engine for the nation’s steel industry. This is because no nation can really develop without the development of its steel industry, and pivotal to the development of the steel industry is Research”. Also, he disclosed that the Centre’s mandate to offer research and development inputs necessary for the development of the mining, minerals and allied sectors, with specific focus on the steel industry in Nigeria is very strategic, noting that the center is the only one of its kind in the West African sub-region with integrated facilities to carry out mineral evaluation, metallurgical processes, adaption and improvement, mineral and metal testing and environmental pollution studies. He added that the center has the capacity to proactively support the growth of the nation’s economy by developing local capacities along the mineral value chain activities, given the right impetus. Speaking further, Prince Audu revealed that the Research & Development of NMDC activities will be geared towards the domestication of Research findings into productive Small and Medium Scale ventures, as according to him, SMEs are the micro drivers of the economy, noting that going forward, the Centre shall undertake targeted research projects that aims to solve existing industry needs, so as to enable us utilize locally, the various metallurgical raw materials that Nigeria is endowed with. He tasked members and staff of the Centre to work together to reposition the Steel and other Metals Sector to attain its pride of place as the bedrock of industrialization and implored them to renew their commitment, drive, focus, and dedication towards supporting the Ministry to actualize its mandates. In her remarks, the Permanent Secretary, Dr. Mary A. Ogbe enjoined the staff to be disciplined and adhere to rules in the discharge of their duties and ensure they work as a team to promote the National Metallurgical Development Centre for optimal productivity. Earlier, the Director General of the National Metallurgical Development Centre Prof. Linus Asuquo, reiterating that without research Steel can not roll, noting that the Research Centre is a unique Agency in the Steel and Metals Sector that its activities are crucial in value addition and development processes in the entire Steel processing chain, from exploration to extraction and to fabrication. Prof. Asuquo while reeling out the numerous achievements of the Centre as well as some of its challenges, expressed optimism that with the leadership of the Ministers and Permanent Secretary, the NMDC would become a Centre of Excellence in Minerals and Metals Research that will be at par with other Steel Research Centres in the world. In a related development, the Honourable Minister during a courtesy visit to the Executive Governor of Plateau State, His Excellency Caleb Mutfwang stated that the purpose for the visit to the State was to get an on-the-spot assessment of the National Metallurgical Development Centre in order to ascertain its challenges and opportunities and proper possible solutions that will ensure that the research Centre operate at full capacity as well as seek collaboration with the Plateau State Government in reviving the Jos Steel Rolling Mill now known as the Zuma Steel Rolling Mill in the State. He added that the Ministry is committed towards fulfilling its mandate of revitalising the Steel Sector for the benefit of Nigerians. In his remarks, the Executive Governor of Plateau State, His Excellency Caleb Mutftwang assured of the State willingness to synergise with the Federal Government in reviving the Steel Sector for the growth of the economy. He stated that the State would directly benefit from the revival of the Steel Sector as according to him, the Jos Steel Rolling Mill when in full operation will create thousands of direct and indirect jobs for the teeming Jos citizens. The Honourable Minister during the working visit to Jos, Plateau State, also paid a courtesy visit to the Gbong Gworm Jos as well as had a facility tour of the Zuma Steel Rolling Mill.

PRESIDENT TINUBU RECEIVES BRIEF ON $10 BILLION INVESTMENT PROSPECTS IN NIGERIA’S STEEL SECTOR President Bola Tinubu, on Thursday, at the State House in Abuja, held a meeting with the Minister of Steel Development, Prince Shuaibu Abubakar Audu, and the Minister of Defence, Alhaji Mohammed Badaru, during which he received briefing on investment prospects in the steel sector. The President emphasized that a revitalized steel development industry is both a catalyst for robust economic growth and a doorway to immense opportunities for Nigeria’s massive pool of talented entrepreneurs. “We will remain unyielding in our determination to build a Nigeria where every citizen has an equal opportunity to prosper and achieve their dreams. New investments in steel production will spur the growth of so many sectors. Industrialization will be a reality in our country with sufficient energy and steel. Nigerian steel will undergird our economy and other economies in our region in future years. I am glad that members of my cabinet have adopted my approach to attracting new investments and job opportunities for our people. Hard work is the only true pathway. We will not relent,” the President stated. The Ministers informed the President of their discussions with a Chinese company, Luan Steel Holding Group, to build a new steel plant in Nigeria, as well as to commence the production of military hardware in Ajaokuta Steel Plant. A delegation led by the Minister of Defence and the Minister of Steel Development had visited Hefei and Guangzhou regions of China to hold business talks with the Chairman of Luan Steel Holding Group, Mr Wang Jianbing; the Chief Executive Officer of the Company, Mr Xiao Weizhan, and other senior executives of the Luan Steel Holding Group. The Chinese company is expected to invest billions of dollars in Nigeria to build the new steel plant. The Minister of Steel Development briefed the President, following his approval to restart the Light Steel Mill (LSM) section of Ajaokuta Steel Complex for the production of iron rods, on the progress made on restarting the section, which will cost N35 billion at the first stage. The Minister said several financial institutions had already provided offer letters for this transaction and that the project is expected to create up to 5,000 direct and indirect jobs for Nigerians. The Minister of Steel Development also informed the President of discussions with the representatives of Jindal Steel Group of India. Jindal Steel Group had indicated interest in investing up to $5 billion in a new steel plant in Nigeria on the sidelines of the G20 meeting in New Delhi, India, in September, 2023, and is now considering to either acquire existing plants or set up greenfield plants. According to the Minister, upon the completion of these deals, about $10 billion worth of new investments in both new and existing steel plants in Nigeria will be established, which will create over 500,000 direct and indirect jobs in the steel industry in line with President Tinubu’s Renewed Hope Agenda for massive job creation through industrialization.

MSD SYNERGISE WITH IBTC, UBA, VODA INFRASTRUCTURE MANAGEMENT LTD TO KICK-START IRON ROD PRODUCTION IN AJAOKUTA The Ministry of Steel Development in furtherance to achieving its mandate of reviving the Steel Sector, improving industrialization in the country, diversify the economy, provide jobs for the teeming youths and grow the Gross Domestic Product (GDP), is collaborating with Financial Institutions, for best financing options to re-start the light Steel Mill in Ajaokuta. The Minister of Steel Development Prince Shuaibu Abubakar Audu revealed this when he played host to the MD/CEO of Stanbic IBTC Bank, Wole Adeniyi at the Ministry’s Headquarters on Tuesday, 5th of December, 2023 in Abuja. He noted that it has become imperative to seek funding of about N35bn to enable it re-start the Light Mill Section of the Ajaokuta Steel Plant for the production of iron rod to achieve the Present Administration’s Renewed Hope Agenda, adding that the Ministry plan to revive Ajaokuta in phases in accordance with its set timelines and benchmark. Prince Audu, speaking further disclosed that the Ministry already has an existing agreement with the Federal Ministry of Works to be off-takers of the rod produced as well as with the Ministry of Defence to build a Military Complex in Ajaokuta, adding, “we have huge opportunities in Ajaokuta and potentially a lot can be achieved”. Earlier, the CEO, Stanbic Bank, Wole Adeniyi, who was represented by Head, Industrials, Debola Seriki, while stating the Banks willingness to partner with the Ministry, enjoined the Ministry to provide more details for their consideration towards realizing the project. In the same vein, the Honourable Minister met with top Management of UBA and Voda Infrastructure Management Ltd with a view to ensuring that funds are raised for the immediate take off of the project for sustainable development of the Steel Sector.