The federal government has sought World Bank support for the development of Steel Roadmap and other critical areas of the sector in Nigeria.
The Minister of Steel Development, Shaiubu Audu during a meeting with World Bank delegation said that as a vital sector for economic progress and industrialisation, it was imperative that a comprehensive roadmap for the steel sector be developed to address the current issues and pave the way for a sustainable future for steel in Nigeria.
He noted that the need for a strategic plan for the steel industry in Nigeria cannot be overstated, adding 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.
Audu stressed that some of the critical areas that need to be addressed in the roadmap include: evaluation and determination of steel raw materials; develop health safety guidelines for the steel sector in Nigeria; design and develop a national metal scrap policy framework; develop 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.
The minister was of the opinion that by focusing on these key areas, the country could create a conducive environment for the steel industry to thrive and compete globally.
Also, the leader of the World Bank delegation, Noora Arfaa declared that the World Bank is willing to provide supervision and support for the preparation of a Roadmap for the Steel Industry in Nigeria.
She intimated 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 appealed to the ministry to ensure it provides the scope of data that would be needed by the world Bank, noting that the objective of the roadmap is to prioritise actions that would unlock investments.
