During his two-day working tour of KAM Holding Ltd, a prominent domestic steel manufacturing company, the Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu, reaffirmed the government’s commitment to reviving Nigeria’s steel industry.
Speaking on Tuesday, May 7, 2024, during his courtesy visit to His Excellency AbdulRahman Abdulrazaq, the Executive Governor of Kwara State, Audu outlined the objectives of the administration’s “Renewed Hope Agenda.”
The goal of the agenda is to increase the GDP and spur economic growth of the country by leveraging the steel industry.
Minister Audu declared, “We are here to support indigenous steel companies that can create millions of jobs for Nigerians.”
He underlined that industrialization and widespread employment depend on a well-managed steel sector.
The minister also acknowledged the ministry’s dual goals of bringing in foreign capital and bringing up local businesses to par with global standards. With a nod toward independence, he said, “It’s high time we ensured that Nigeria is working for Nigerians.”
Governor Abdulrazaq expressed gratitude for the minister’s efforts and hope for the benefits of the visit.
He argued that KAM Holding Ltd should be part of the future plans to revive the Ajaokuta Steel Company, pointing out that Nigeria’s industrialization cannot happen without a healthy steel industry.
The governor emphasized the strategic significance of the steel industry by saying, “Nigeria cannot be industrialized without getting the steel sector right.”
In her welcome speech, Dr. Iyadunni Bolanle Yusuf, Vice Chairman of KAM Holding Ltd., emphasized the historical predominance of foreign businesses in Nigeria’s steel industry.
She applauded the creation of KAM Holding Ltd., a fully Nigerian-owned company that manufactures steel, iron, and liquid goods.
Dr. Yusuf made a plea to the Ministry to safeguard and support the domestic steel manufacturing industry, which is essential to industrialization and produces materials for engineering, automobiles, infrastructure, and defense.
A courtesy visit to Ibrahim Sulu-Gambari, the Emir of Ilorin, was also part of the minister’s tour, which highlights the extensive outreach and teamwork meant to revitalize and reshape Nigeria’s steel sector for upcoming opportunities and challenges.
Be the first to comment