TO aid Nigeria’s infrastructural development, the Federal
Government has emphasised the need for increased investment in the mines
and steel development, as it restates renewed commitment towards the
growth of the sector.
The Minister of Mines and Steel Development,
Musa Sada disclosed this at the weekend during the inauguration and
test run of Western Metal Products Company Limited (WEMPCO) steel plant
at Magboro, Ogun State.
According to him, the government is
working towards creating an enabling environment that will make the
mining and the steel sector thrive for economic development, noting
however that there is a need for renewed investments in that sector.
Sada
noted that there is no country in the world that can industrialise
without the steel sector saying, “we need to encourage investors in the
sector as no country can industrialise without steel. There is nothing
you see that can not go with steel.”
He then expressed
government’s commitment to enhancing the growth of the company, saying
“with what is going on at WEMPCO plant, the leadership of the country
will not rest on its oars to ensure that it gives all it takes to make
the sector work for economic gains.”
He pointed out that out of
the government’s three million metric tonnes production capacity
projected for the steel sector, the new WEMPCO plant is already
producing 700,000 metric tonnes noting that if the company enjoys
adequate support, government may be able to achieve its set target.
“Industrialisation
thrives on the products emanating from the steel sector. We need to
support the cause to enhance the nation’s infrastructural growth. We can
build automobile bodies, roofing sheets, iron containers, electrical
appliances amongst others,” he said.
The Group Managing Director
of the WEMPCO, Lewis Tung noted that with the new steel plant, the
company hopes to enhance its production capacity and also boost the
nation’s economic profile as well as investment drive.
He added
the company has also embarked initiatives to enhance training and
technology transfer in order to aid the growth of the sector, while
increasing its downstream activities, as well as empowerment for its
employees.
“Steel is the basic metal and backbone of all
industries. It facilitates infrastructural development and promotes
creation of employment opportunities. In any country, all aspects of
industrialisation require steel. Thus, steel is very crucial and
fundamental to any industrial development and industries should be
supported.
“All advanced countries of the world started their
industrial revolutions through the development of steel. Similarly,
developing nations laid the foundation of their development through
steel development capabilities. Nigeria needs to encourage the
development of its steel industry in order to foster development drive,”
Tung added.
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