Group Managing Director/CEO of KAM Holding, Dr.Kamoru Yusuf, Friday said that Nigerians have all that is required to transform Nigeria.
Yusuf was reacting to the poor economic level of Nigerian which many Nigerians have spoken ill of.
He advised the federal government to extend adequate support to the Iron and Steel sector of the nation’s economy in a bid to further achieve its numerous campaign promises especially in the areas of job creation and youth empowerment.
Yusuf disclosed this when some team of scientists visited him on a courtesy visit stressing that, “As Nigerians, we are only black in skin but not black in our brains, we have all that is required to transform our country.”
He noted that steel sector is one of the major bedrock of the Nigerian economy capable of changing the numerous narratives as well as repositioning the nation on the global map of business, industrial growth, economic benefits and improved revenue generation.
Dr Yusuf who is also the Chairman of Basic Metal, Iron & Fabricated Steel, an arm of the Manufacturer Association of Nigeria, (MAN) noted that the ongoing multi-billion Naira Integrated Steel Melt Shop project of the company located at Jimba-Oja community, along Ajase-Ipo expressway has the capacity to produce Liquid steel of about 400,000tonnes annually as well as Rolling Mill of 150tonnes capacity to produce wire coils and TMT Bars among others in line with International Standards.
According to him, “While the project has the capacity of providing 1,200 direct jobs as well as over 5,000 indirect jobs to Nigerians as well as expatriates in order to provide technology transfer mechanism to Nigerians, thereby boosting Internally Generated Revenue, (IGR) as well as increase the nation’s Gross Domestic Product, (GDP).
In addition, it will also save scarce foreign exchange to the tune of about $250 million annually, among other economic benefits. At the moment, 95 per cent of our raw materials are sourced locally, using Ultra-modern technology of Electric Arc Furnace and Ladle Refining Furnace to mention a few.
“With emphasis and credence to our long-standing achievements and projection for the future of our dear nation, we hope to ensure that no stone shall be left unturned towards achieving and attracting more economic fortunes to Nigeria.
Yusuf, however, assured Nigerians that KAM Holding being an indigenous firm is working assiduously towards the reversal of a negative situation importing approximately 25 million tonnes of processed steel and aluminium products annually by producing more of those products locally.
He, therefore, advised government at all levels to ensure that Science and Technology get adequate attention in the admission formula into tertiary institutions across the country in order to produce skilful and science-oriented youths who will rescue the nation from the manpower shortage in future.