From Charity Nwakaudu, Abuja
President Muhammadu Buhari has said that his administration has committed more resources to the steel sector than any other administration.
Buhari who was represented by the Vice President, Prof Yemi Osinbajo at the 2022 Miners Week, held in Abuja, said the vision of achieving an industrialized nation can not be achieved without a vibrant steel sector.
He said the steel sector is prioritized due to the huge demand for steel and iron in both domestic and international markets.
“The development of the steel sector is still a huge priority of our administration. Our vision for an industrialised nation cannot be achieved without a vibrant steel sector. We understand the huge demand for Steel and iron in our domestic markets and across the sub-region. This is why we prioritized the resolution of all the issues constraining the full operation of the Ajaokuta Steel company.
“we intentionally prioritised the development of the country’s mineral resources as one of the frontiers for economic growth. This led to the comprehensive Roadmap for the Growth and Development of the Nigerian Mining Sector and we have steadily followed the steps set out in the roadmap. So far, we can say without fear of contradiction that this administration has committed more resources to the development of the mining sector than any other government in the history of this country.
He stated that a transaction adviser has been appointed to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company Itakp, adding that commitment is to break the jinx and actualise the dream of a vibrant steel sector.
He further reiterated the responsibilities of the administration to both public and private sector entities for the issues of sustainable development and climate change.
The Minister of Mines and Steel Development, Olamilekan Adegbite, in his remarks stated that the ministry has contributed immensely to the increased government revenue.
“Government Revenues increased from two billion Naira in 2015 to over seven billion in 2021 indicating a major increase in mining activities in the fi
“We shall intensify our efforts to work to make our mining sector more competitive in the global mining space and to satisfy the needs of our domestic global goals. We shall prioritize the development of critical minerals required in clean energy transition and reduction in green house permission to zero.”