The Ministry of Steel Development is set to collaborate with the Nigerian Investment Promotion Commission (NIPC) for the revitalisation and operationalisation of the National Steel Raw Materials Exploration Agency (NSRMEA), Kaduna and the National Metallurgical Institute, Onitsha.
The move was in line with the Renewed Hope Agenda of the Bola Tinubu’s Administration and in achieving its mandate of ensuring that the nation’s Steel Sector contribute to the sustainable development of the economy and grow the Gross Domestic Product (GDP).
This, was even, as the Minister of State, Ministry of Steel Development, Uba Ahmadu disclosed that Niger Extraction Company Ltd, a Nigerian Company registered to undertake mining and steel development has sent in a proposal for the establishment of a $300 million Steel Plant in Niger State, a development which according to him, indicates that the Steel Sector is set to take off and deliver on its mandate.
Ahmadu gave the hint on Thursday in Abuja when he played host to the Executive Secretary/CEO of the Nigerian Investment Promotion Commission, Aisha Rimi in the Ministry’s Headquarters.
Ahmadu enumerated the areas of collaboration to include organising local and international investment fora for relevant stakeholders to showcase the full potentials of the NMTI with the view of attracting investments and funding for modernising and upgrading the institute’s facilities, curriculum, and training programs to meet industry international best standards and demand, among others.
The minister listed more areas of collaboration to include: Identifying local and international multilateral, multinational, Institutional and venture capitalists who can inject technical and financial capital into revitalizing the institute and position it as a center of excellence for metallurgical training and skills development; Establishing a PPP (Public Private Partnership) framework for the revival of NMTI.
This, he said, would involve engaging with private sector stakeholders, such as steel companies, mining firms, and educational institutions, to form partnerships aimed at modernising the institute and aligning its training programs with industry.
Ahmadu expressed the Ministry’s willingness to leverage on the expertise and networks of NIPC, noting that the collaborative efforts of both Organisations would help attract private sector investment, modernize exploration techniques, and enhance the capacity of NMTI and NSRMEA to fulfill their mandates.
Also, the Executive Secretary/CEO of Nigerian Investment Promotion Commission, Aisha Rimi said that the Commission’s mandate is to provide assistance to investors seeking to enter the and those that are already in the country.
She disclosed that NIPC has extensive and robust Departments that assist in carrying out adequate care and after care for investment and investors.
Rimi assured of the Commission’s commitment to ensure all assistance is given to the Steel Sector to promote direct foreign investment into the country.