Nigeria, Ukraine Collaborate On Mines, Steel

Minister of Mines and Steel Development Musa Sada has urged Ukrainian entrepreneurs to invest in Nigeria’s steel sub-sector.

A statement issued in Abuja by the minister’s Press Secretary, Marshall Gundu, said that Sada made the call during a meeting with a delegation of Ukrainian investors from Reprom Company, led by the Ukrainian Ambassador to Nigeria, Mr Valerri Vasyliev.

Sada pledged Nigeria’s readiness to partner with Ukranian investors in efforts to develop the mines and steel sector.

The minister said that the Federal Government had already put in place some regulatory instruments with the enactment of the Minerals and Mining Act of 2007 to revitalise the mining industry.

He said that the mining law had created an enabling environment for potential investors, adding that the government only played the roles of a regulator, while the exploitation and exploration of mineral resources were left in the hands of investors.

Sada said that his ministry was working aggressively to make some parts of Ajaokuta Steel Company Limited and National Iron Ore Mining Company, Itakpe, operational.

He stressed that the overhaul of some parts of the two companies would improve the companies’ physical and economic appeal to potential investors.

“If we put life in the two companies now, it will be better for us,’’ he said.

The minister, however, said that efforts aimed at moving Ajaokuta Steel Company Limited forward must include the engagement of its workers to man the steel plant.

“If we want to take Ajaokuta Steel Company Limited forward, we will have to work with the old hands,” he added.

Sada said that the government had received the preliminary report on the technical audit of the two companies, adding that the final report was being awaited.

The minister assured the delegation of the Federal Government’s determination to collaborate with interested investors in developing the country’s mining sector.

In his remarks, the Ukrainian envoy, Vasyliev, said that the purpose of the visit was to indicate the investors’ interest in plans to develop Nigeria’s steel sub-sector.

He also commended the minister for the support and cooperation which Ukranian investors were receiving from Nigeria.

Vasyliev said that Reprom Company commenced operations in Nigeria in 2004, adding that, the company had successfully rehabilitated and managed some rolling mills in Nigeria.

He said that the company also carried out the technical audit of Ajaokuta Steel Company and National Iron Ore Mining Company, Itakpe.