The basic metal, iron and steel and fabricated metal products sectoral group of the Manufacturers Association of Nigeria has raised an alarm over the possible massive retrenchment of workers in the steel sector.
This is ascribed to non patronage of local steels products which is limiting the potentials of the sector. The iron and steel industry in Nigeria started by government intervention through the construction of various steels rolling mills.
In 1971, A Nigeria Steel Development Authority was created to design plans for Iron and Steel projects, train students in iron and steel making… But years down the line the situation remains the same
Experts and key players in the manufacturing sector say a vibrant iron and steel sector is necessary for infrastructure and technological developments of any nation.
According to figures from the ministry of mines and steels development, the industry if fully tapped can contribute 27 billion dollars to the the country’s GDP yearly by 2025.
Speakers here want both public and private sector companies in the construction industry to effectively comply with local patronage and local content in all their projects where such products are locally available.
The group said they will continue to engage government to formulate policies and laws that will help revitalize the steel industry.
