Steel Development: Stakeholders Meet Over Nigerian Metallurgical Industry Bill 2023

Stakeholders of the Ministry of Steel Development in Nigeria met in Abuja Nigeria’s Capital to discuss measures to achieve the Nigerian Metallurgical Industry Bill 2023.

The bill is aimed at revitalizing the nation’s metallurgical sector and fostering sustainable development.

The gathering brought together key stakeholders from the academia, government institutions, private enterprises, and civil society dedicated to advancing Nigeria’s metallurgical capabilities.

The Nigerian Minister of Steel Development, Prince Shaiubu Audu who was at the stake-holders conference emphasized on the vital role of the metallurgical industry in national development.

Prince Audu said “The Nigeria Metallurgical Industry Bill is a landmark piece of legislation designed to provide a robust legal and regulatory framework for the metallurgical sector.”

He also said that “the absence of a comprehensive legal structure has hindered growth, efficiency, and global competitiveness in our industry.”

The Nigerian Steel Minister further said “The Bill seeks to address these long-standing issues, ensuring that Nigeria’s metallurgical industry is not only viable but also a key contributor to our economic diversification efforts”

According to him, if the bill is passed into law, it will enhance the Ministry’s capacity to regulate the steel and metals industry by providing a well-defined legal framework that ensures operational standards, quality control, and industrial best practices, adding that the Bill will empower the Ministry with stronger enforcement mechanisms to curb illegal mining, scrap metal theft, and substandard imports.

He noted that the Bill will enhance investors’ confidence, attract both local and foreign investors as well as create a more transparent business environment.

Furthermore, Prince Audu disclosed that the Bill presents a significant opportunity to position Nigeria as a leading player in the global metallurgical value chain.

“By leveraging our vast mineral resources and industrial potential, we can drive economic diversification and job creation. However, we must also address key challenges such as enforcement mechanisms, infrastructural gaps, and industry security.” He said.

In his remarks, the Permanent Secretary Dr. Chris Isokpunwu noted the importance of the stakeholders’ engagement on the Nigerian Metallurgical Industry Bill, 2023 to the future of the nation’s steel and metallurgical sector, stated that the Bill, when enacted, will serve as the primary legislation governing the steel sector.

In that light, Dr. Isokpunwu said it is imperative that the Bill adequately reflects the current realities of the industry, including the new roles and mandates of the Ministry of Steel Development.

The Permanent Secretary of the Steel Development Ministry also urged all stakeholders to actively participate in the discussions, share insights, and contribute to shaping a law that will drive the growth and development of Nigeria’s metallurgical and steel sector.

He added that the input of stakeholders’ will help ensure that the final law is comprehensive, forward-looking, and aligned with national and global best practices.

Also speaking, the Chairman, Senate Committee on Steel, Senator Patrick Ndubueze, stated that there is need for the Bill to be introduced to the Senate so that it will go through the normal reading and deliberations, get to the third and final readings before its eventual passage into law.

Senator Ndubueze also emphasized the need to ensure that stakeholders making inputs should be those who have stakes in the steel and Metallurgical sector.

While speaking further the Chairman, House Committee on Steel, Dr. Zainab Gimba, stated that the establishment of the Ministry of Steel Development, following its separation from the former Ministry of Mines and Steel Development, has fundamentally transformed the regulatory landscape for the steel sector.

The Chairman House Committee on Steel Development in Nigeria’s House of Representatives said that the conference necessitated a rigorous re-examination of the Nigerian Metallurgical Industry Bill, 2023, to ensure it accurately reflects the Ministry’s updated status, functions, and responsibilities.

Dr. Gimba added that it will also address the regulatory gaps that have emerged from the separation from the Ministry of Solid Minerals.

She revealed that the Bill which has passed the first reading is not merely a legislative document; but a strategic instrument poised to shape the future trajectory of the steel sector.

Noting that the stakeholders’ meeting provided an unparalleled opportunity to harness collective expertise and insights.

According to her, the gathering and the subsequent technical session, will probe deeply into essential amendments and collaboratively develop a comprehensive memorandum for the National Assembly.

Also the Chairman, National Steel Council, in Nigeria Professor Abdulkarim Kana, said that the nation’s steel sector required an emergency approach.

Professor Kana stated that “it was high time to take a final stand to find solutions to the challenges facing the sector by having a bill that encapsulates every aspect of steel”.

 

Olusola Akintonde