By Gabriel Ewepu

ABUJA – THE Minister of Steel Development, Prince Shuaibu Audu, Thursday, expressed optimism that the inaugural National Steel Summit 2025 will unlock massive potential of sector.

Addressing a press conference ahead of the Summit holding on 16th – 17th July, 2025 in Abuja with the theme ‘Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness’ , at the Ministry’s headquarters in Abuja, Audu explained that “the Summit which aims to assemble key stakeholders to appraise the current status of the industry, explore investment opportunities, identify policy and infrastructural needs and adopt a consensus way forward for the revival and sustainable Development of the Nigeria’s Steel sector.”

According to him, the Summit being first of its kind in the checkered history of the nation’s steel sector will be a springboard for galvanizing the sector as Nigerians have waited for it to catalyse industrialisation and less dependent on imported steel products based on the huge deposits of iron ore in the country, which Nigeria does not need any importation of the raw material for steel production.

He promised that the Summit will bring about robust exchange of ideas, business networking and deal closures as well as mutual partnership to move the agenda from just rhetoric to critical, collaborative, and progressive actions.

He also assured that the Tinubu-led administration will position Nigeria as a major Steel hub for Sub-Sahara Africa whilst making significant contribution to national GDP.

He said: “The Ministry of Steel Development as part of its efforts to rebuild and unlock the nation’s Steel potentials is hosting its inaugural National Steel Summit 2025 themed; ‘Rebuilding and Consolidating Nigeria’s Steel Industry: Collaborative Action for Sustainable Growth and Global Competitiveness’.

“The Summit which aims to assemble key stakeholders to appraise the current status of the industry, explore investment opportunities, identify policy and infrastructural needs and adopt a consensus way forward for the revival and sustainable Development of the Nigeria’s Steel sector will be declared open by the President of the Federal Republic of Nigeria, His Excellency, Asiwaju Bola Ahmed Tinubu, GCFR. This maiden Summit coming at about the two (2) years anniversary of President Bola Ahmed Tinubu’s Renewed Hope Agenda will accord the Ministry an opportunity to share the Renewed Hope vision, the milestones recorded so far and receive feedbacks from stakeholders.

“The stakeholders will be given an even platform to interact on their mutual areas of collaboration especially in market promotion and infrastructure sharing windows for competitive production.”

He also highlighted activities during the two-day Summit; Executive parley amongst selected policy makers, Paper presentations, Panel Discussions, Questions and Answers, Exhibitions, and others.

Meanwhile, he assured stakeholders that, “every contribution would be given adequate consideration in the emerging Steel sector in Nigeria.

“That we set and monitor quality standards for local and foreign Steel products to eradicate structural failures in different construction projects in Nigeria; and Generate massive employment for our teeming youths and promote technology transfer for Nigeria’s economic development.”

However, he maintained that the Tinubu-led administration’s renewed hope efforts have started yielding positive results after 20 months.

According to the Minister, “more will be harvested in due course: Renewed vigor in the resuscitation of the legacy assets namely; Ajaokuta Steel Company Limited, National Iron Ore Mining Company, Former Delta Steel Company Limited, Aluminium Smelter Company of Nigeria, Jos Steel Rolling Mill amongst others.”

The Minister also underscored the role and partnership of the media in shaping and fast-tracking development of the nation’s steel sector.

“I enjoin the media houses to use their various platforms to partner with the Ministry of Steel Development to create a National Steel sector that will service critical sectors of the Nigerian economy”, he said.

He added that the efforts had also restored and renewed investors’ confidence in the sector, and also effective collaboration with the Legislature, which led to urgent actions on key legislations including; Metallurgical Industry Bill, National Metallurgical Training Institute, Onitsha establishment Bill and National Steel Council Act amendment Bill.

Earlier, the Permanent Secretary, Ministry of Steel Development, Dr Chris Isokpunwu, in address of welcome explained that the Summit aims “to reposition the steel sector as a key driver of Nigeria’s industrialization and as economic transformation.

“This maiden National Steel Summit, therefore, marks a pivotal moment in our national quest to rebuild and consolidate Nigeria’s steel industry through inclusive dialogue, strategic policy formulation, and targeted investment.”