The president of the Nigeria Society of Engineers (NSE), Mr Isaac Ademola Olorunfemi, has said that despite the huge natural raw material, such as iron ore, required for the production of primary steel, inherent in the country, Nigeria still spends $3.3 billion on steel importation.
During its first quarterly press briefing, Olorunfemi noted that though the development of the iron and steel industry is key for industralisation and infrastructural development of the nation, Nigeria’s iron steel industry still remains abysmal.
He said that the industry is faced with negligible local production, low return on investment and is heavily dependent on steel.
As such he said the absence of a functional steel industry has significantly limited the growth of the manufacturing sector and stalled rapid development of skill and technology required to drive the moribund Inland Rolling Mills at Jos and Katsina as well as the Delta Steel Company Limited at Aladja. He also added that there is the need to urgently resolve the problems with the commissioning of the Ajaokuta Steel Company Limited.
While commending the recently launched Nigeria Industrial Revolution Plan (NIRP) and the National Enterprise Development Programe (NEDP), he, however, asserted that appropriate synergy must be put in place if the relevant sectors, especially the steel sector, must work and flourish as it currently lacks of coherence and articulated development goals.
Source: leadership.ng
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