Minister of mining and the development of the steel industry of Nigeria, Olamilekan Adegbite said that his "ultimate goal is to completely stop the import of steel in the country." It is reported by news Agency of Nigeria (NAN).
Adegbite added that the government will stop the import of steel materials in the country, once the country reaches self-sufficiency in the production of steel.
"Before we do this, we must be able to meet local consumption through local production and to have some redundancy for export; that's our goal," said the Minister during a study visit in a private steel company, Kam Industries Limited in Ilorin.
It is reported that local private investors need to invest in the steel sector of the country and not in a foreign company, to avoid leakage of capital.
the Minister expressed satisfaction with the level of production in the industry, saying it should be emulated "well-meaning Nigerians".
Adegbite expressed optimism that with the support of President muhammadu Buhari, Ajaokuta Steel Company will recover and begin to melt steel before the end of term of the current administration.
He noted that while the Ministry is responsible for the production and development of steel in the country, it does not control the quality of steel coming into the country.