Home | News | General | FG to stop importation of steel materials – Minister
Strongest State in Nigeria: Abuja to host biggest reality TV Show
Makinde calls for caution over unregulated media content

FG to stop importation of steel materials – Minister





The Minister of Mines and Steel Development, Mr. Olamilekan Adegbite, said on Thursday the Federal Government planned to stop the importation of steel materials into the county to encourage local investors in the sector.

We’ll establish gemstone laboratories, no more outsourcing — Adegbite
 Adegbite

Adegbite stated this during a familiarisation visit to Kam Industries Limited, a privately owned steel industry in Ilorin, Kwara State.

The minister added that the government would stop the importation of steel materials into the country once it attained self-sufficiency in steel production.

KAM Industries Limited is an indigenous manufacturing company that specialises in the production of a cold roll, steel coil, nails, binding wires, galvanising and color roofing sheets.

The company which was registered in 1996 also manufactures British Reinforcement Concrete (BRC) Mesh wire, binding wire, bale tiles, drawn wire, and straightening wires among others.

The minister said: “My ultimate aim is that we ban steel importation into the country totally.

“But then, before we do that, we must be able to satisfy local consumption from local production and have some excess for export; that is where we are heading.”

He said it was necessary for local private investors to invest in the country’s steel sector rather than foreigners, to avoid capital flight. (NAN)

Vanguard

CLICK HERE TO READ MORE FROM: General Visit website



Loading...

view more articles

About Article Author

Chuka (Webby) Aniemeka
Chuka (Webby) Aniemeka

Chuka is an experienced certified web developer with an extensive background in computer science and 18+ years in web design &development. His previous experience ranges from redesigning existing website to solving complex technical problems with object-oriented programming. Very experienced with Microsoft SQL Server, PHP and advanced JavaScript. He loves to travel and watch movies.

View More Articles

100 Most Popular News

1 2 Displaying 1 - 100 of 188