PRESS CONFERENCE ON THE NATIONAL STEEL SUMMIT
Protocol
The Permanent Secretary, Ministry of Steel Development, Dr. Chris Osa Isokpunwu,
Heads of Departments and Agencies of Ministry of Steel Development,
Gentlemen of Press,
Ladies and Gentlemen.
It is essential for me to brief the media for proper sensitisation of the general public especially the Steel sector stakeholders, Donor Agencies, Academia, Policy makers, Financial Institutions, Large and Small Scale Industrialists, Artisans etc on the upcoming maiden National Steel Summit scheduled to hold on 16th – 17th July, 2025 at the Nigerian Airforce Conference Centre, Kado, Abuja starting from 9am on both days.
The Ministry of Steel Development as part of its efforts to rebuild and unlock the nation’s Steel potentials is hosting its inaugural National Steel Summit 2025 themed; “Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness”. The Summit which aims to assemble key stakeholders to appraise the current status of the industry, explore investment opportunities, identify policy and infrastructural needs and adopt a consensus way forward for the revival and sustainable Development of the Nigeria’s Steel sector will be declared open by the President of the Federal Republic of Nigeria, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR.
This maiden Summit coming at about the two (2) years anniversary of President Bola Ahmed Tinubu’s Renewed Hope Agenda will accord the Ministry an opportunity to share the Renewed Hope vision, the milestones recorded so far and receive feedbacks from stakeholders. The stakeholders will be given an even platform to interact on their mutual areas of collaboration especially in market promotion and infrastructure sharing windows for competitive production. There will be executive parley amongst selected policy makers, Paper presentations, Panel Discussions, Questions and Answers, Exhibitions etc and I want to assure all stakeholders that every contribution would be given adequate consideration in the emerging Steel sector in Nigeria.
Despite the chequered history of Steel development in Nigeria which dates back to 1958, the present Renewed Hope Administration of President Bola Ahmed Tinubu, GCFR is already pushing the right buttons to ensure the emergence of a virile Steel industry in Nigeria along the following key mandate instructions:
i) That the utilization of the abundant Steel Raw Materials in Nigeria for the substitution of imported Steel products which has been draining our foreign exchange to the tune of over $4Billion USD per annum;
ii) That we enthrone a regulatory regime that would ensure sustainable Steel and Non-Ferrous Metals production in Nigeria for both local and international markets;
iii) That we set and monitor quality standards for local and foreign Steel products to eradicate structural failures in different construction projects in Nigeria; and
iv) Generate massive employment for our teeming youths and promote technology transfer for Nigeria’s economic development.
The media is aware that the renewed hope efforts in the last 20months has already started yielding notable milestones and more will be harvested in due course:
- Renewed vigor in the resuscitation of the legacy assets namely; Ajaokuta Steel Company Limited, National Iron Ore Mining Company, Former Delta Steel Company Limited, Aluminium Smelter Company of Nigeria, Jos Steel Rolling Mill amongst others.
- Renewed investors’ confidence in the sector has led to the Stellar Steel Company Limited (a member of the Innergalaxy Group) committing investment of $400Million for the establishment of Steel facility for the production of hot rolled coils/plates. Similarly, the Orbit Fabrication/Galvanising Works Limited (a member of African Industries Group) has also commissioned a 50,000tonnes galvanising plant valued at close to $100 million amongst other new investments into the sector.
- The effective collaboration with the Legislature has led to urgent actions on our key legislations namely; Metallurgical Industry Bill, National Metallurgical Training Institute, Onitsha establishment Bill and National Steel Council Act amendment Bill. We held a Stakeholders meeting with the National Assembly on this earlier this year.
- The effective supervision and collaboration with the private Steel companies has resulted in increased capacity utilisations through our incentive supports.
The technical sessions and panel discussions during the event will x-ray critical areas of the industry from diverse perspectives including:
- Resuscitation of the legacy Steel projects, the issues and way forward;
- Competitive Steel Industry in Nigeria, the essential role of logistics infrastructure and efficient/affordable energy supply;
- The need for a robust legislative framework for the sustainable development of the sector,
- Investments in Mining and Local Raw Material Sourcing in Nigeria;
- The issue of aging workforce in the industry and the urgent need for increased investment in human capital development.
The role of the Steel industry in any modern economy cannot be over emphasised and I enjoin the media houses to use their various platforms to partner with the Ministry of Steel Development to create a National Steel sector that will service critical sectors of the Nigerian economy such as:
- Construction
- Automobile
- Defence
- Shipbuilding
- Road and Rail Transportation
- Telecommunication
- Agriculture and Food Security
- Aviation
- Oil/Gas Infrastructures
- Equipment and Tools etc
As we look forward to a robust exchange of ideas, business networking and deal closures as well as mutual partnership to move the agenda from just rhetoric to critical, collaborative, and progressive actions. Ultimately, we shall position Nigeria as a major Steel hub for Sub-Sahara Africa whilst making significant contribution to national GDP.
We look forward to welcoming you all to this great event in the history of Steel Development in Nigeria.
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