Steel Industry in Nigeria

The Nigerian Society of Engineers (NSE) is appalled that the country spends a whopping $3.3billion on the importation of steel products into the country. It said that this was even more appalling, because of the abundant presence in the country of the requisite raw materials, like iron ore and coal that could hasten the growth and development of the industry. The umbrella organisation for the country’s engineers is worried that the absence of a functional steel facility was hampering the growth of the manufacturing sector and has stalled the development of skill that could aid the sector. Nigeria’s quest for steel technology dates back to the 1960s. The government of Prime Minister Abubakar Tafawa Balewa, as far back as then, recognised the relevance of steel in any nation’s economic development and made efforts to bring the country, fresh from colonial rule, into the club of industrialised nations that the steel industry symbolised. But economic considerations were sacrificed on the altar of politics with the ill-advised decentralisation of the steel project in the country, for which Nigeria is paying the price until date.

Culled from: The Citizen Ng