The Nigerian government through the Ministry of Steel Development has sought World Bank support for the development of steel roadmap and other critical areas of the country’s steel sector.
The Nigerian Minister of Steel Development, Prince Shaibu Audu, who stated that the steel sector is a vital sector for economic progress and industrialisation.
Prince Audu following the meeting with the Wold Bank delegations said “it was imperative that a comprehensive roadmap for the sector be developed to address current issues and pave the way for a sustainable future for steel in Nigeria.”
The Minister who made the statement through and Assistant Director in charge of information and public relations unit, Tine-Iulun M.A, stated that “the minister noted the need for a strategic plan for the steel industry in Nigeria cannot be overstated”.
The statement added that “with the right framework in place, the industry can unlock its full potential, create jobs, boost local production and contribute significantly to the country’s GDP.”
Prince Audu disclosed that some of the critical areas that need to be addressed in the roadmap include evaluation and determination of steel raw materials, development of health safety guidelines for the steel sector, design and development of a national metal scrap policy framework.
Other issues to be addressed include the “development of a National Steel Laboratory for quality assurance as well as the development of an online portal for steel and other metal products imported into the country.”
He asserted that by focusing on those key areas, the country can create a conducive environment for the industry to thrive and compete globally.
In her remarks, the leader of the World Bank delegation, Noora Arfaa, declared that “the bank is willing to provide supervision and support for the preparation of a roadmap for the steel sector.”
She intimated the minister that “the World Bank has a work programme and activity plan outlined, beginning from January 2025 that would see a roadmap for Nigeria drafted and adopted by August 2025.”
She therefore appealed to the ministry to ensure that it provides the scope of data that would be needed by the bank, noting that “the objective of the roadmap was to prioritise actions that would unlock investments across ETM”
The World Bank further said “other critical minerals value chains, thereby driving economic diversification and inclusive and sustainable development.”
Olusola Akintonde
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