FG Revives Metal Sector For Economic Growth

FG Revives Metal Sector For Economic Growth
The Federal Government has resolved to prioritize the resuscitation of the mineral and metal sector so as to pave way for Nigeria economic growth and recovery.

Pursuant to this, government, through Ministry of Mines and Steel Development (MMSD) is organising the second Metallurgical Industry Stakeholders Forum (MISF) for metal sector operators in the country.

The forum with the theme, “Development of the Nigerian Metal Sector: A Panacea for National Development and Imperative for Economic Diversification”
will hold from Tuesday 16th – Wednesday 17th, 2019 at Benizia Hotel, 1-4 Kingsley Enugu Street Asaba, Delta State.

The Director, Metallurgical Inspectorate & Raw Materials Development (MI&RMD) Department, Mr. Victor Ihebinike, said the metal industry forms the bedrock on which industrialisation and development of any nation of the world is built, without which no meaningful technological advancement would be achieved.

He further revealed that, in the course of the parley, the government hopes to create the required linkages for the rapid development of the metal sector by assisting private metal sector operators to synergise.

According to him, “Virtually all other sectors of the economy rely on the metal sector in one way or the other to thrive; that includes Power, Agriculture, Transportation, Industry, Electrical/Electronics, Construction, Roads, Housing.”

He said: “It must be mentioned that Nigeria is well endowed with various metallurgical raw materials that cut across the length and breadth of the nation.

“Such raw materials include coal, iron ore, limestone, marble, dolomite, bauxite, refractory clays, Ferrous alloys, foundry raw materials, scrap metals to mention as well as our natural comparative advantage towards rebuilding the ailing metallurgical industry.

He also stated that: “It is common knowledge that other countries that started development of their metallurgical sector in a similar way like Nigeria had been able to lift their economies from third world poverty and starvation to industrialized nation through their doggedness in the pursuit of their objectives. Such Countries may include South Korea, Algeria, Tunisia, India, Egypt, Libya, Pakistan, Turkey, Iran and Iraq, etc.”

He however, hinted that, Nigeria’s failure in the past is attributed to the country’s inability to do the right things at the right time.
He called for a change in the tide and way of thinking, for the country to get where others are and possibly overtake them.

Idowu Jokpeyibo
For: Director Press