The Minister of Steel Development, Prince Shuaibu Abubakar Audu, has inaugurated the Orbit Galvanising Steel Industries Limited and Orbit Fabrication Works Limited located in Lagos State.
Audu hinted that the project, a milestone under the African Industries Group (AIG), is a landmark achievement in Nigeria’s galvanising and steel fabrication sub-sector.
The inauguration of the plant, he said, forms part of his working visit to Lagos, where he is engaging with key private sector players in the steel industry, as the Federal Government intensifies efforts to foster private sector participation in driving economic growth.
Audu, in a statement issued Wednesday by the Principal Information Officer of the ministry, Ijomah Opia, commended the company for its commitment to investing in the Nigerian steel sector to advance local manufacturing, create jobs, and economic sustainability.
He noted that Orbit fabrication has the capacity to produce up to 50,000 metric tons of fabricated towers annually which brings the combined annual production capacityof all tower fabrication companies in Nigeria to around 200,000 metric tons per annum.
Audu added: “This plant, which is a pioneer achievement of the African Industries Group in the galvanising sub-sector, has further reinforced the group’s commitment to invest in the Nigerian steel sector with a focus on local manufacturing of different steel products through backward integration for the overall economic development of the country.
“In recognition of the importance of galvanised steel products to multiple projects across different industries and the overall economic development of Nigeria, the federal government graciously granted concessionary import duties of Galvenised steel products prior to the establishment of this plant.
“I want to use this opportunity to call on end users both government and private sector to patronise our locally fabricated tower products because there is no capacity to meet the demands for quality tower products within Nigeria and the ECOWAS market. This plant currently employs about 350 Nigerians and will also save foreign exchange for the country.
“One of the principal tasks before my ministry under the administration of his Excellency, President Bola Ahmed Tinubu GCFR, is to create an enabling environment for local investments and ensure that there is a level playing field.
“The commissioning of this project today is a testament to the efforts of the current administration to rejuvenate the steel sector of the Nigerian economy and i enjoin other prospective investors to emulate African Industries Group,” Prince Audu stated.
One of the Directors of AIG, Mr. Rajah Gupta, speaking on behalf of the Chairman of the Company, reaffirmed AIG’s long-standing commitment to Nigeria.
Gupta emphasised that AIG, which has operated in Nigeria for over 54 years, remained dedicated to positioning the country among the elite group of nations that produce and export crude steel.