The Minister of State, Ministry of Mines and Steel Development, Abubakar Bawa Bwari, has said the ministry is set to increase the sector’s contribution to the national GDP from 0.3% to 3% in 2019 and 10% to 15% by 2025
The minister stated this in his speech to the 4th international conference and exhibition tagged ‘India Steel Expo’ held recently.
He further stated that government will increase steel consumption per capita from less than 10kg to 40kg by 2025; and increase contribution of the steel sector to the basic raw material input of other strategic sectors.
“As the minister in charge of Mines and Steel Development in a country endowed with over 3 billion Metric Tonnes of iron ore amongst other steel making raw materials, and a population of over 190 million, we are concerned that out of a global production of 1,689 million tons and African production of 15 million tons, Nigeria only produced an estimated 100 tons – according to the World Steel Association, 2017 statistics.
“This is the narrative we are set to change by all means since estimates from audit studies put our production at 1.3 million tons of steel for 2017,” he stated.