Business
Association Tasks Africa Leaders On Iron, Steel Dev
The Secretary-General of the African Iron and Steel Association (AISA), Dr Muhammad Sanusi, yesterday told Africa leaders to encourage the development of the iron and steel sector to industrialise the continent.
Sanusi, who gave the advice in an interview with newsmen in Abuja, yesterday said that no nation or continent could industrialise without having an iron and steel base.
He said that even the so-called developed nations had well-established iron and steel industries before they became what they were.
“China came out from nowhere; today China is the largest economy in the world. Why? This is because she had established a very serious foundation on iron and steel.
“Today, China is the largest producer of steel, the largest consumer of iron and steel. 20 years ago, China was nowhere to be found.
“Today, India, Malaysia and Saudi Arabia, with their riches and oil revenue, gave priority attention to the development of iron and steel industries and they are still doing so.
He said that Africa leaders should be serious to industrialise the continent and also be in a position to help their industries to produce spare parts needed in the continent.
The secretary said that there was no Africa country that did not have large quantities of raw materials required to set up iron and steel industries.
“In almost every African country, there are one or two materials useful for the production of iron and steel.”
Sanusi said that Nigeria, Algeria, Egypt, Zimbabwe, Ghana, Mali, Angola, Congo, Ethiopia, Kenya, Senegal, Tanzania, Togo, Tunisia, Uganda, Zambia and Mauritania, all AISA members had iron and steel raw materials.
L-R: Sales Manager (North), Somotex Nigeria Ltd, Abhishek Sadhya, Vice President, Ajay Singh, Regional Business Manager, Sridhar Doraiswamy and Commercial Air Conditioning (CAC) Project Sales Manager, Stephen Olorunleke, at a seminar on Commercial Air Conditioning in Abuja last Wednesday.
“Payment of tuition fees for undergraduate/postgraduate studies shall be subject to a maximum limit of $25,000.00 per semester,” the Manual states.
The expansion of international card limits also reflects growing confidence among lenders that foreign exchange liquidity has improved enough to support retail dollar transactions.
Speaking recently at the BusinessDay 14th Annual CEO Forum in Lagos, CBN Olayemi Cardoso, governor of the CBN said buying and selling activities now increasingly determine outcomes in the foreign exchange market, unlike in the past when market participants relied heavily on routine Central Bank interventions.
According to Cardoso, Nigeria’s net foreign exchange reserves have risen from just over $3 billion at the start of the reform programme to more than $40 billion, while gross reserves have climbed to about $52 billion, providing stronger confidence for investors and enabling the Central Bank to reserve interventions for periods of market stress rather than day-to-day liquidity management.
The restoration and expansion of international naira card spending limits are increasingly being seen as one of the clearest signs that the benefits of the CBN’s foreign exchange reforms are beginning to reach households, students and businesses making legitimate cross-border payments.
The Secretary-General and Chief Executive Officer, WEC, Dr Angela Wilkinson, disclosed this in a statement, last Thursday.
“Nigeria’s participation comes at a pivotal time as the country seeks to expand energy access, strengthen energy security, accelerate gas development and mobilise the capital required for industrialisation and sustainable economic growth.
“WEC Nigeria will convene leaders from across the energy ecosystem, apply the WEC’s globally recognised Energy Trilemma framework to Nigeria’s unique context, and promote evidence-based dialogue, practical collaboration and informed policymaking.
“It will also ensure that Nigerian and broader African perspectives contribute meaningfully to global energy conversations,” she said.
Wilkinson expressed confidence that Nigeria would play a significant leadership role at the World Energy Congress scheduled for Riyadh in April 2027 and beyond.
The statement also quoted the Chairman of WEC Nigeria, Isa, as describing the country’s participation as an opportunity to deepen national and African leadership within the global energy community through practical solutions tailored to regional development priorities.
He said the platform would promote collaboration across sectors and attract sustainable investments into Nigeria’s energy sector.
The Chief Executive Officer of WEC Nigeria, Wunti, was quoted in the statement as saying that the council would connect leadership, evidence and investment to build a secure, affordable and sustainable energy system.
“This system will be capable of driving economic growth and shared prosperity.”
According to him, the platform will also connect Nigerian institutions and businesses with international knowledge, technology, partnerships and investment opportunities through the World Energy Council’s global network.
Recall that WEC, founded in 1923, is the world’s oldest independent and impartial community of energy leaders and practitioners, advancing informed, collaborative and practical action across the global energy system.