FG to overhaul steel sector to strengthen Nigeria’s economy


The federal government intends to restructure the nation’s steel sector in order to boost the economy and provide job opportunities.

The Minister of Steel Development, Prince Shuabi Audu, stated this in Abuja while meeting with the heads of the ministry’s agencies and departments.

Audu said that Nigeria’s abundant mineral resources hold the key to reshaping the nation’s economic landscape and extending the benefits of democracy to every Nigeria.

“By tapping into the latent potential of the steel sector and channeling it into lucrative ventures, we can ensure that the dividends of democracy reach every citizen.

“The steel sector stands as a pivotal pillar of Nigeria’s industrial growth, carrying the potential to provide substantial job opportunities for the youth.

“To realise this vision, the government is fully dedicated to implementing an extensive array of measures designed to attract reputable international investors,” he said.

Audu said that every Nigerian deserves to partake in the benefits that democracy brings, adding that a core tenet of democracy was its ability to uplift individual needs and aspirations.

According to him, the government is steadfastly focused on cultivating an environment conducive to ensuring these advantages.

“In the pursuit of attracting investments, the Federal Government remains resolute in its mission to boost economic growth and empower its citizens through the potential of the steel sector.

“This is by fostering strategic alliances, facilitating investment inflow and cultivating a business-friendly atmosphere, the government envisions a future marked by prosperity, progress, and collective advancement,” he said.

The minister said that Nigeria was ready to take a leading role in the global steel market, adding that the transformative journey was poised to reshaping the nation’s economic trajectory.

“This is to ensure that the benefits of democracy are tangible and accessible to all. ”