FG Mulls Minerals, Metal Sector Dev For Export

The Minister of Mines and Steel Development, Musa Sada, has said that the Federal Government is determined to diversify the country’s revenue earning through the development of minerals and metals for export.

A statement signed by the Deputy Director of Press of the ministry, Marshell Gundu, stated that Sada spoke in Abuja when a delegation from the African Iron and Steel Association paid him a courtesy visit.

He said that the Federal Government would make minerals and metal sectors the bedrock of the nation’s economy in the next few years.

The minister said that the development of minerals sector was part of the transformation agenda of the Federal Government. Sada expressed the ministry’s readiness to partner with stakeholders in the industry to move the sector forward, adding that the minerals and steel sectors were vital resources for the industrialisation of the country.

He said that the sector was facing several challenges hampering the survival of the steel industry, and that they included infrastructure, raw materials and legal problem. Sada said that government was ready to tackle these problems in order to move the sector forward.

He said, “For the National Iron Ore Mining Company, Itakpe to be functional, government has directed the resuscitation of one line of the company to produce iron ore, the basic raw material for steel production.

“To solve the technical problems associated with the nation’s steel sector; the ministry is already collaborating with relevant bodies such as the Ministries of Justice, Works, Transportation and Finance,’’ he said.

He said that he had directed the Mining Cadastre Office not to renew the 19 mining titles issued to the Delta Steel Company (DSC).

Earlier, the Executive Secretary of the African Iron and Steel Association, Sanusi Mohammed, said that the essence of their visit was to brief the minister of the activities of the association.

Mohammed said that part of the aim of the visit was to give the ministry the views of the association on how to grow the nation’s steel sector.

“It is an accepted fact worldwide that if you want your economy to grow, definitely it should be through the SMEs. It is the engine of growth of any economy in the world.   “And if this sector of the Nigerian economy will be encouraged, I am sure it is going to improve the GDP of the country tremendously.’’