A call has been made to the federal government to extend its supportive actions to indigenous manufacturers in local capacity building for the steel industry in Nigeria.
The call was made by the Chairperson of KAM Holding, Alhaja Bolanle Yusuf, at the official takeover of the Standard Metallurgical Company (SMC) by KAM Steel Integrated Company Limited at Igbafa village in Sagamu local government area of Ogun State.
The transfer of ownership to KAM Steel, an Integrated Company under the KAM Holding, an indigenous investment specialized in the manufacturing of iron and steel products, was witnessed by major stakeholders in the industry.
Alhaja Yusuf said that;
“If Nigeria must come out of the wilderness of poverty, unemployment and insecurity among other social vices, the federal government must deploy its machinery to support local manufacturers in their bids to survive and grow”.
“The Steel Industry being a very important integral part of the nation’s economy necessary for speedy economic growth and socio-infrastructural development, there is need for government to focus more on the sector, recognize and declare Iron and Steel as national products to boots our foreign exchange earnings in the face of dwindling price of Oil in the global market”.
In his remark about the development, the Minister of Mines and Steel Development, Architect Olamilekan Adegbite, said;
“the management of the Ministry has been working assiduously towards the enactment of the Nigeria Metallurgical Industry Bill in order to have an enabling law for effective regulation of the Metal Sector in Nigeria. He, therefore, solicited for the support of all stakeholders’ especially metal sector operators in order to realize this. The role of iron and steel industry in national industrialization is vital. This is because steel remains the basic raw materials for a host of manufacturing activities and other economic developmental windows.
“It is worthy to note that the Federal government from the onset, established policy formulation vis-à-vis the establishment of Metallurgical industry due to local availability of major raw materials input”.
“government is encouraging Metal sector operators, especially local producers of metallurgical Mineral raw materials and steel metal products to synergize with miners towards ensuring local beneficiation of raw materials in Nigeria”.
“This would put an end to the “dig it and ship it” syndrome and boost downstream activities in the metal sector for jobs and wealth creation”