The Minister of Steel Development, Shuaibu Audu has described customary budget releases as a cog in the wheel of steel sector development
He was of the opinion that a special funding mechanism would drive the necessary policies and programmes to revitalise the comatose steel industry and set the country on the path to industrialisation.
The minister while speaking at the opening of a two-day ministerial management retreat organised by the ministry.
Audu, while giving an overview of the steel industry from conceptualisation in 1958, stated that despite the ugly history of steel development in Nigeria in the past four decades, the President Tinubu’s administration has shown willingness to address the protracted challenges facing the industry.
He explained that the reviewed Presidential 8-Key Priorities has the steel sector as a focal point for driving the economic development of the country.
The minister stated: “A critical evaluation of the 8-Point Agenda suggests the critical place of the steel sector in the realisation of these goals, especially in the areas of industrialisation, manufacturing and unlocking the natural resources potentials of the country.
“And, the creation of the ministry of Steel will give direct focus to the sector for it to become the bedrock of industrialisation of the Nigeria economy.”
The minister, however, assured Nigerians of the ministry’s commitment to deliver on Tinubu’s key priority of growing the Gross Domestic Product (GDP) of the country for sustainable economic and infrastructural greatness through the steel sector.
Similarly, the Minister of State for Steel Development, Uba Ahmadu, hinted that the retreat wouldd afford the management staff the opportunity to dissect each of the eight key priorities of the administration and explore ways to translate them into actionable strategies for the Ministry.
According to him, Developing a comprehensive roadmap that will align to the ministry’s strategies with the Eight Presidential Priority areas and Identify Key Performance Indicators (KPIs) to measure progress and ensure accountability.
He further said that the event will formulate actionable plans with realistic timelines and resource allocation for each priority area, equally foster collaboration between the Ministry, the National Assembly, and stakeholders across the industry, among others.
Also, Permanent Secretary of the Ministry, Dr. Mary Ogbe, hinted that the theme of the retreat, “Delivering on the Eight Presidential Priorities,” aligns perfectly with the Ministry’s goal of ensuring the optimal utilisation of the country’s steel resources for the overall benefit of the nation and its citizens.