President Muhammadu Buhari has revealed that the federal government is set to concession the Ajaokuta Steel Company and the Nigerian Iron Ore Mining Company, Itakpe, and has appointed a transaction adviser for the concession.
He made this known at an event to mark the 2022 Nigeria Mining Week held in Abuja.
He said a selection process is in the works, as the FG is committed to growing Nigeria’s steel industry.
According to Buhari, who was represented by Vice-President Yemi Osinbajo, the FG’s commitment to Nigeria’s mineral sector has led to a comprehensive Roadmap for the growth and development of the Nigerian Mining Sector.
He also noted that his administration has committed more resources to the development of the mining sector than any other government in the history of this country, citing that huge investment in the mining sector had yielded positive results over time.
“We are proud that the indices of development in the sector are rapidly changing.
“Nigeria, for the first time, has a world-class gold mine in Segilola, Osun State, operated by Thor Exploration. Also, Eta Zuma Mining and Industries Limited, Mosra Enerji are mining and supplying the coal needs of Dangote and Bua Cement factories.
“In the steel industry, African Natural Resources and Mines Limited, owners of the Kagarko Integrated Steel plant, is about to produce liquid Steel from its Iron ore mine in Kaduna State,” he said.
The president pointed out that growth in the sector will boost the country’s export earnings and job creation, stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities.
On Ajaokuta, Buhari said the development of the steel industry is a huge priority, noting that the FG is committed to the concession of the steel company.
He also added that the FG is working to legalise the operations of artisanal miners through scaling up knowledge of formalization techniques and building up its ability on real-time data collection of artisanal mining sites in the country.
