The Federal Government has said it plans to stop the importation of steel materials into the nation.
According to FG, this move will encourage local investors in the sector.
Mr. Olamilekan Adegbite, Minister of Mines and Steel Development, revealed this during a familiarisation visit to Kam Industries Limited, a privately owned steel industry in Ilorin.
He added that FG will eventually stop the importation of steel materials into Nigeria as soon as it attained self-sufficiency in steel production.
His words, “My ultimate aim is that we ban steel importation into the country totally.
“But then, before we do that, we must be able to satisfy local consumption from local production and have some excess for export; that is where we are heading.”
“It is impressive, I have been to see our own steel plant at Ajaokuta, though it may not be working now, but I have been shown the processes.
“Coming here, I can see a functional one, of course with a similar process; this is very commendable.
“For a private entrepreneur to do this, providing employment for more than 4,000 people, it is very impressive and it is worth my coming here today.
“Our dreams and hopes for the Nigeria steel industry was built on Ajaokuta, and it has become something very emotional to the whole country.”
Is this a good move?
Muhammadu Buhari GCFR (born 17 December 1942) is a Nigerian politician currently serving as the President of Nigeria, in office since 2015. He is a retired major general in the Nigerian Army and previously served as the nation’s head of state from 31 December 1983 to 27 August 1985, after taking power in a military coup d’état. The term Buharism is ascribed to the Buhari military government.
He unsuccessfully ran for the office of president of Nigeria in the 2003, 2007, and 2011 general elections. In December 2014, he emerged as the presidential candidate of the All Progressives Congress for the March 2015 general elections. Buhari won the election, defeating the incumbent President Goodluck Jonathan. This marked the first time in the history of Nigeria that an incumbent president lost to an opposition candidate in a general election. He was sworn in on 29 May 2015. In February 2019, Buhari was re-elected President, defeating his closest rival Atiku Abubakar by over 3 million votes.
Buhari has stated that he takes responsibility for anything over which he presided during his military rule, and that he cannot change the past. He has described himself as a “converted democrat”.
Muhammadu Buhari was born to a Fulani family on 17 December 1942, in Daura, Katsina State, to his father Hardo Adamu, a Fulani chief, and mother Zulaihat. He is the twenty-third child of his father. Buhari was raised by his mother, after his father died when he was about four years old.
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