• Home
  • Anti-Corruption
  • Fact-Check
  • Economy
  • National
    • Government
  • Security
  • Features
  • State
  • Event
    • PR Nigeria Award
  • E-Paper
Search
  • Home
  • About
  • Adverts
  • Contact
Sign in
Welcome! Log into your account
Forgot your password? Get help
Password recovery
Recover your password
A password will be e-mailed to you.
PRNIGERIA PRNigeria News
PRNIGERIA PRNIGERIA
  • Home
  • Anti-Corruption
    • NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

      Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

      FG Reaffirms Non-Interference in ICPC, EFCC Operations

      ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

      Engr Abba Babagana Dalori

      Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

      Chinese nationals jailed in Lagos

      Court Jails Nine Chinese Nationals for Cybercrime in Lagos

  • Fact-Check
  • Economy
    • FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Nigeria Customs Aligns with Finance Ministry over 4% FOB Policy Review

      Members Board of Directors of Dangote Refinery

      Dangote Refinery Deploys 4,000 CNG Trucks, Promises 24,000 Jobs as Fuel…

      Renewed Hope in Central Banking

      Book Review: Renewed Hope in Central Banking – A Blueprint for…

      NAHCON

      Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu…

  • National
    • Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      NAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in Borno

      FG, States, LGs Share N2.225trn Revenue for August – FAAC

      Tinubu Lifts State of Emergency in Rivers, Reinstates Fubara, Legislators

      Crowned Prince Salman of Saudi Arabia

      Saudi Frees Nigerian Pilgrims Framed by Drug Syndicate

    • Government
      • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

        Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

        Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

        FG, States, LGs Share N2.225trn Revenue for August – FAAC

        ICPC Secures Six-Year Jail Term for Sokoto River Basin Director

  • Security
    • massive cache of logistics

      Troops Intercept 700 Bags of Fertilizer, Drugs Meant for Terrorists in…

      Soldiers

      Army Condemns Soldier to Death by Hanging for Killing Tricycle Rider

      NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Troops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover Weapons

  • Features
    • Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

      Sowore vs DSS: Free Speech or Defamation? By Mohammed Bego Abdullahi

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity By Senator Iroegbu

      A Group of Terrorists/Bandits

      Nigeria Fights Back Against Banditry and Insecurity

      Engr. Suleiman Bolakale Kawu Agaka

      Engr. Kawu: A Heroic Homecoming for a Man of the People…

  • State
    • Soldiers

      Army Condemns Soldier to Death by Hanging for Killing Tricycle Rider

      Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security…

      NDLEA Logo

      NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in…

      Police Officer

      Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms

      Kano’s Corruption Storm: A Test of Media Ethics and Public Relations…

  • Event
    • Chairman NAHCON Professor Abdullahi Saleh Usman meets with Katsina State Governor Dikko Radda

      NAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments,…

      Flier for the programs that happened for the elderly by members of BUKAA FCT

      BUKAA FCT Appreciates Sponsors after Aerobics, Football Exercises

      Prof. Abubakar Mu’azu

      UNIMAID appoints Prof. Mu’azu as Pioneer Dean, Faculty of Communication

      NIPR President Ike Neliaku

      NIPR Inducts 422 New Members, Urges Commitment to National Unity

      Baze University Management visits TETFUND, Showcases Tech-Driven Growth, National Impact

    • PR Nigeria Award
  • E-Paper
Home Anti-Corruption FG commissions N60bn steel mill in Sagamu
  • Anti-Corruption

FG commissions N60bn steel mill in Sagamu

By
Prnigeria
-
January 30, 2015

…project executed with 100% raw materials from Nigeria

The Federal Government on Thursday commissioned a N60bn integrated steel mill in Shagamu, Ogun State as part of productive activities thrown up by the sectorial implementation of the Nigerian Industrial Revolution Plan.

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, who commissioned the mill, built by the Standard Metallurgical Company, said Government was committed to repositioning the steel sector to access a substantial share of the global wealth, estimated at $10tn.

 

He said with the implementation of the right sectorial policies under the NIRP, the number of functioning steel rolling mills in Nigeria had increased to over 21 currently, from less than five a few years ago.

 

“Before this administration came on board, we had less than five functioning steel rolling mills and no cold rolled steel mill, but today there are more than 15 functioning steel rolling mills producing reinforced bars; about three functioning cold rolled steel mills producing cold rolled flat sheets; and about three producing or about to commence the production of wire coils. This is a visible evidence that our policies are working,” Aganga said.

 

According to him, steel is at the heart of any country’s economic development and is one of the most important materials widely used for both domestic and industrial purposes throughout the world, hence the priority given to the sector in the NIRP.

 

He said, “In addition to accelerating the industrial development of a nation, a vibrant steel sector contributes to the growth of the Gross Domestic Product and exploitation of Nigeria’s abundant natural resources.

“A vibrant steel sector also generates economic activities in downstream industries, creates job opportunities and acquisition of technical skills, helps in the transfer of technology and provision of machine parts and tools. This particular project is being executed with 100 per cent locally-sourced raw materials.”

Read Also:

  • Troops Intercept 700 Bags of Fertilizer, Drugs Meant for Terrorists in Yobe
  • Army Condemns Soldier to Death by Hanging for Killing Tricycle Rider
  • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes

He noted that the establishment of the phase I of SMC’s steel mill and the ground breaking of the phase II of the project would complement the company’s existing investments in the agri-business sub-sector of the country, pointing out that the mill ranked among the largest private sector investments in the steel sector in Nigeria.

Aganga said, “I am assuring existing investors like SMC and prospective ones of Government’s support in the pursuit of self-sufficiency in local steel production. The implementation of game changers in the sector is already opening up a lot of downstream sector activities with the attendant massive job opportunities and economic empowerment for our engineers, technicians, artisans and fabricators alike.

 

“To date, a number of sectorial policies have been developed under the NIRP. The Sugarcane to Sugar under the National Sugar Master Plan (NSMP) has attracted over $3 billion in investments. The National Automobile Industry Development Plan (NAIDP) has attracted over 22 OEMs including Nissan, Hyundai while Peugeot and Volkswagen have re-commenced operations in Nigeria.”

 

“The National Cotton, Textiles and Garments Policy, which was launched last week has already attracted a number of international, regional and domestic investors. One of such investors is the Vlisco group, which signed a Memorandum of Understanding with the Federal Government to invest across the entire value chain and has since entered into strategic partnerships with a number of domestic investors in the Cotton and Textile phases of the value chain,” he added.

 

The Minister of Mines and Steel Development, Arch. Musa Sada, reiterated the Federal Government’s commitment to creating the enabling environment for the mines and steel sector to thrive.

 

“The Ministry of Mines and Steel Development is collaborating with key stakeholders to ensure proper development of the sector. I would urge investors to take full advantage of Nigeria’s enabling environment to explore the abundant natural resources in Nigeria for collective gains,” the minister said.

 

The Managing Director of SMC, Dr. Mohammed Saade, commended the Federal Government for supporting the steel sector, noting that the entire project would aid the Transformation Agenda of the current administration, while boosting growth.

 

“SMC Steel Rolling Mill has a multi-phased Integrated Iron and Steel Complex with an estimated annual capacity production of two million tons of long and flat steel finished products, which is being executed in multi-phases over a 10-year implementation programme. The project is being executed with 100 per cent raw materials from Nigeria,” he said.

VISIT OUR OTHER WEBSITES
PRNigeria.com EconomicConfidential.com PRNigeria.com/Hausa/
EmergencyDigest.com PoliticsDigest.ng TechDigest.ng
HealthDigest.ng SpokesPersonsdigest.com TeensDigest.ng
ArewaAgenda.com Hausa.ArewaAgenda.com YAShuaib.com
Previous articlePlateau State Council of Chiefs Extols Water Resources Minister
Next articleManagement approves for Federal Ministry of Information Websites to publish paid advertisements
Prnigeria
Prnigeria
https://prnigeria.com/

RELATED ARTICLESMORE FROM AUTHOR

NAHCON

Renewed Hope in Hajj Operations: NAHCON Records Milestone Achievements Under Tinubu Administration

Mohammed Idris Malagi, Honorable Minister of Information and National Orientation

FG Reaffirms Non-Interference in ICPC, EFCC Operations

ICPC Secures Conviction of Rector for Running Unaccredited Degree Programmes

Engr Abba Babagana Dalori

Engr Dalori Forfeits Galaxy Hospital, Petrol Station, Properties & Cash

Chinese nationals jailed in Lagos

Court Jails Nine Chinese Nationals for Cybercrime in Lagos

ASUU

Tackle Corruption, Institutional Decay – ASUU Charges FG

EFCC Arraigns Bauchi Accountant General Over N8bn Fraud as Court Sentences Kano Make-Up Artist for Naira Abuse

PRNigeria logo fearured image

EFCC Arraigns Ex-Convict, Other for Naira Abuse in Lagos

EFCC Arrests 37 Suspected Internet Fraudsters in Ilorin

EFCC, CCC and the Battle Against Corruption in Nigeria, By Mukhtar Ya’u Madobi

Ola Olukoyede, EFCC Chairman

EFCC’s Anti-Corruption War: Between Media Trial and Intelligence-Driven Operations

Olayiwola Oguntade

Court Sentences Ex JAMB Staff for N10m Fraud in Ibadan

LEAVE A REPLY Cancel reply

Log in to leave a comment

Recent Posts

  • Troops Intercept 700 Bags of Fertilizer, Drugs Meant for Terrorists in Yobe
  • Army Condemns Soldier to Death by Hanging for Killing Tricycle Rider
  • Court Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security Votes
  • NDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in Kano
  • Imo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover Arms
  • Home
  • About
  • Adverts
  • Contact
© 2020 PRNigeria. All Rights Reserved.
Latest News
Troops Intercept 700 Bags of Fertilizer, Drugs Meant for Terrorists in YobeArmy Condemns Soldier to Death by Hanging for Killing Tricycle RiderCourt Dismisses Suit Seeking to Bar ICPC from Probing Bauchi Security VotesNDLEA Hands Over Intercepted 60 Cartons of Pregabalin to NAFDAC in KanoImo Police Raid IPOB/ESN Hideout, Arrest 18 Suspects, Recover ArmsKano’s Corruption Storm: A Test of Media Ethics and Public Relations By Umar BabangidaTroops Raid Illegal Arms Factory in Plateau, Arrest Suspect, Recover WeaponsSowore vs DSS: Free Speech or Defamation? By Mohammed Bego AbdullahiNAF Air Strikes Kill Scores of Terrorists, Destroy Enclaves in BornoFG, States, LGs Share N2.225trn Revenue for August – FAACICPC Secures Six-Year Jail Term for Sokoto River Basin DirectorNAHCON Boss Meets Katsina Governor, Pushes for Early 2026 Hajj Payments, Promises Easier ExerciseKaduna Police Arrest Two Suspects Over Illegal Possession of FirearmsTinubu Lifts State of Emergency in Rivers, Reinstates Fubara, LegislatorsBadaru Joins Global Leaders at Beijing Forum on Peace, Security
X whatsapp