A fully developed mines and steel sector will not only surpass other sectors of the economy in terms of export earnings, it will also create more lucrative jobs and opportunities for many Nigerians, according to Vice President Yemi Osinbajo.

Osinbajo stated this at the opening of the 6th Edition of the Nigerian Mining Week in Abuja, where he represented President Muhammadu Buhari as the Special Guest of Honour.

He said the steel sector “will stimulate industrial growth as a local source of raw materials and improve the quality of lives in rural communities.

Assuring of government’s commitment to support mining activities towards shared prosperity for the Nigerian people, the VP observed that the event was “a very significant complement to our vision and sustained effort to accelerate the growth of the mining sector as a major contributor to Nigeria’s economic diversification programme.”

“This is why the Federal Government will continue to intensify its regulatory and supervisory role in ensuring that mining is held to the highest standards of sustainable development and intergenerational equity,” the VP added.

Osinbajo observed that “the mining sector has always needed a transformational leap to contribute meaningfully to the envisioned economic growth of the country, because, despite the glorious contribution of the mining sector to our national economy in the past and the abundance of mineral resources found in almost every state of the Federation, the growth of the sector stagnated for many years especially since the early 1970s. And there have been many notable efforts by previous administrations to wake up the sleeping giant that is the mining industry.”

Speaking further, he added that the Buhari administration’s commitment towards developing the country’s steel sector has continued to record significant gains over the years.

“We are proud that the indices of development in the sector are rapidly changing. Part of these is the increased revenue generation and, of course, the unprecedented investment interest that the industry has attracted in the past few years.

“Nigeria, for the first time, has a world-class gold mine in Segilola, Osun State, operated by Thor Exploration, while Eta Zuma Mining and Industries Limited and Mosra Enerji Limited are mining and supplying the coal needs of Dangote and Bua Cement factories.”

“In the steel industry, African Natural Resources and Mines limited, owners of the Kagarko Integrated Steel plant, is about to produce liquid steel from its iron ore mine in Kaduna State.

“Several other investors are at different stages of mine development in various parts of the country, and these strategic milestones will hopefully catalyse more mining investment in the country.”


https://dailytrust.com/why-development-of-steel-sector-is-priority-for-buhari-administration-osinbajo

There is no state in this country that doesn't have natural resources...we are blessed with different varieties that if tapped into, it will boom our economy especially when those goodies meet global standard.

Obaja steel industry comes to mind.
When you travel 2ru that route, you can't but come to conclusion that Nigeria politicians have deliberately wreck havoc 2dis con3. How could such HUGE industry be abandoned

The mining sector will stimulate industrial growth if the federal government intervention is adequate in terms investment and support.

Let us maximize this Natural blessings for our national benefit

Nigeria is well blessed with natural resources but we haven't discovered most of these ,who knows we can detect one in Ilesa ,Osun State

"This is why the Federal Government will continue to intensify its regulatory and supervisory role in ensuring that mining is held to the highest standards of sustainable development and intergenerational equity,”

There is no state in this country that doesn't have natural resources...we are blessed with different varieties that if tapped into, it will boom our economy especially when those goodies meet global standard

How I see Buhari government?
Buhari policies are for the long term, they are necessary not bad but for short term the citizens are not directly impacted so there's minimal poverty reduction.

My verdict: Swap Buhari policies with Obasanjo 1999. Nigeria would be far better off today compare to how it is now.
*I might be right or wrongf

Nigeria will not be better off anytime soon, not in the next 5 years. Any president that offers to make life comfortable for all is either lying or will try to shrink our indigenous productivity to 15yrs backward....
The only thing that can make life convenient is to float open the borders, let's everything move in... Rice, palm oil, used cloths,cement, cars,just everything we consume daily and reduce significantly the import tarrif.

This will create millions of job for the middle men and importers, serious crashes in prices of goods especially foodstuffs being affordable for all, free flow of cash and everyone is happy....

But for the long term, YOU KNOW

After the discovery of oil, there's enough dollars to go through. Everyone wants it easy, the past generation wants things easy, this generation wants things easy and so is the next... Easy is not the way out.

After 7years??

These people are not OK oo??

Something that should have been taken into consideration immediately being elected is what this failure of a vice president is saying now.

I wonder the buffoons that compare this coward to Peter Obi. What Osibanjo can stand/tolerate Peter Obi will never tolerate it.

This dude went mute for years after his corruption case opened by FG Only for him to start uttering nonsense lately.

Very deceptive lot confusing ignorant people with big grammar.

We are proud that the indices of development in the sector are rapidly changing. Part of these is the increased revenue generation and, of course, the unprecedented investment interest that the industry has attracted in the past few years.

Osibanjo has completely removed his hands from Tinubu presidential ambition and honestly , that's the right thing to do to avoid soiling his good name ..

This is a welcome development. Kudos to our amiable Vice President