From Charity Nwakaudu, Abuja
The Director General/Chief Executive National Metallurgical Centre, Jos, Prof Linus Asuquo, has said that no country can develop without a competitive Steel sector.
Prof Asuquo, at an interactive section with journalists in Abuja, stressed that steel is significant in the development of any country.
The DG explained that no material is produced without the use of steel at the cause of production. He lamented that Nigeria has lost a lot of money in the past for exporting raw minerals.
“Before now some of these of mineral resources were taken raw outside this country. By doing that, we lost a lot of money. What we do now is adding value to the minerals in the country before exporting, thereby increasing the economy of the country.
“Steel production is key to industrialization in any country. There can’t be any significant development in any country without steel. There is nothing steel is not made used in the cause of the production of the material. So, is very significant in the development of any country.
Prof Asuquo, further appealed for adequate funding especially in research and development, for the country’s mining sector to be able to ensure economic growth and sustainability.
He stressed that there can not be industrialization progression in the country if there was no adequate funding for research and development adding that a lot of funding is needed for the development of solid minerals which is capital intensive.
“No country can go forward with a 0.1 GDP for research and development. In some countries, people are advocating for 3 per cent for Research and Development in all sectors.
There cannot be industrial progression in a country if there is no adequate funding for research and development. We cannot move forward by just speaking it has to be action-motivated,” the NMDC boss explained.