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Nigeria Enters League Of Steel Exporters by Blue3k2: 4:44pm On Oct 19, 2017
By Franklin Alli

THERE is strong indication that after cement, Nigeria’s steel industry is the next sector to watch as African Industries Group, the largest steel manufacturer in the country, has started exporting the product to Morocco, Egypt and Ghana.

Steel is made from iron ore, limestone and natural gas, and its usage cut across tools and machinery, energy, automotive, building industries.

Raj Gupta, Chairman, African Industries Group, while speaking ahead of the unveiling of the company’s export strides to government officials, bank chiefs and other stakeholders in Lagos, next week, said the company has been working aggressively to put Nigeria on the global map of steel producers and exporters.

He said that the company is currently exporting 200,000 metric tonnes yearly out of its one million metric tonnes per annum production capacity.

Uche Iwuamadi, the firm’s Group Executive Director, Legal/Corporate Affairs, added that with this move, Nigeria is now shifting from imports-oriented economy to that of an export giant.

He said, “Nigeria is known for being an import oriented economy and is now entering a real world map of exporters, not of raw materials or agric produces but a classical industrialised products like iron rods.

“The beauty of it all is, we started from the African landscape by exporting to Morocco, Egypt and Ghana, which is quite remarkable because countries like Morocco and Egypt can easily bring in some steel but they found Nigerian steel of the highest quality. That is a start. The next thing is to go beyond Africa.”


Read more at: https://www.vanguardngr.com/2017/10/nigeria-enters-league-steel-exporters/

Front Page: Lalasticlala

23 Likes 5 Shares

Re: Nigeria Enters League Of Steel Exporters by Fidelismaria: 4:51pm On Oct 19, 2017
okay

HURRAY HURRAY

FTC

OYA LALASTICLALA DO THE NEEDFUL

CREDIT MY ACCT ASAP
Re: Nigeria Enters League Of Steel Exporters by Blue3k2: 4:53pm On Oct 19, 2017
Who new Nigeria exports steel would have never guessed. Lol something Nigeria couldn't 80's with Ajaokuta Steel Company. Oh well congrats to these guys.

6 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by looseweight: 5:34pm On Oct 19, 2017
This is a great news coming from Nigeria.

I am the best weight loss doctor

7 Likes

Re: Nigeria Enters League Of Steel Exporters by DesChyko(m): 5:34pm On Oct 19, 2017
At least the steel plants are working.

But..

Think of all the things that steel could do especially vehicle bodies and parts, now that Nigeria is coming into the industry.

But No.. The government can't afford to establish industries to at least accomodate the numbers being churned out of our engineering institutions yearly.

Half bread is better than none sha. Gradually, Hopefully.

7 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by ponziponzi(m): 5:35pm On Oct 19, 2017
Very stupid achievement. You are not making steels, you are just depleting the country of its valuable scraps that should sustain the small rolling mills. These people should be excuted for this.

17 Likes 3 Shares

Re: Nigeria Enters League Of Steel Exporters by asawanathegreat(m): 5:35pm On Oct 19, 2017
I hope they will sustain it oo
Re: Nigeria Enters League Of Steel Exporters by Nobody: 5:35pm On Oct 19, 2017
Extraordinary league... My President is working

5 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by Beehshorp(m): 5:35pm On Oct 19, 2017
Blue3k2:


Read more at: https://www.vanguardngr.com/2017/10/nigeria-enters-league-steel-exporters/

Front Page: Lalasticlala




Does it mean they would leave our oyel alone?

1 Like

Re: Nigeria Enters League Of Steel Exporters by haconjy(m): 5:35pm On Oct 19, 2017
good I think
Re: Nigeria Enters League Of Steel Exporters by Sunnycliff(m): 5:35pm On Oct 19, 2017
Is our internal steel demand enough before we talk of exporting?

15 Likes

Re: Nigeria Enters League Of Steel Exporters by Unbreakable007: 5:35pm On Oct 19, 2017
April fool!

2 Likes

Re: Nigeria Enters League Of Steel Exporters by seunmohmoh(f): 5:35pm On Oct 19, 2017
sigh
Re: Nigeria Enters League Of Steel Exporters by brainpulse: 5:36pm On Oct 19, 2017
Very good one. Nigeria is working
Re: Nigeria Enters League Of Steel Exporters by SalamRushdie: 5:36pm On Oct 19, 2017
Another legacy of GEJ on the front page today
Re: Nigeria Enters League Of Steel Exporters by CannyBrainy(m): 5:36pm On Oct 19, 2017
1up for Nigeria..
Re: Nigeria Enters League Of Steel Exporters by slimthugchime(m): 5:36pm On Oct 19, 2017
Where are the foolish afonjas claiming that innoson only assembles his vehicle......now you know where he actually gets some of his materials from

1 Like 1 Share

Re: Nigeria Enters League Of Steel Exporters by brainpulse: 5:36pm On Oct 19, 2017
SalamRushdie:
Another legacy of GEJ on the front page today
Una they like fool yourself sha. The dumb corrupt GEJ slowpoke guy that doesn't even know we have such in the country.

36 Likes 2 Shares

Re: Nigeria Enters League Of Steel Exporters by NCP: 5:36pm On Oct 19, 2017
Ok thanks to every looter that made this possible, including the indolent legislators and executheives.
Re: Nigeria Enters League Of Steel Exporters by SalamRushdie: 5:36pm On Oct 19, 2017
modelmike7:
Extraordinary league...
My President is working

Its another legacy of GEJ your Buhari didnt have an input in this
Re: Nigeria Enters League Of Steel Exporters by ifyan(m): 5:37pm On Oct 19, 2017
Good

But why is steel product still expensive in the local market. They say charity begins at home.

2 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by hokafor(m): 5:38pm On Oct 19, 2017
It will not impact or change anything for the poor Nigerians so to me is meaningless.

1 Like 1 Share

Re: Nigeria Enters League Of Steel Exporters by Nobody: 5:38pm On Oct 19, 2017
SalamRushdie:

Its another legacy of GEJ your Buhari didnt have an input in this
Okay seen.....

4 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by IloveTrump(m): 5:38pm On Oct 19, 2017
God purnish buhari.God pls bless Trump and Putin cuz they are Christians.
Re: Nigeria Enters League Of Steel Exporters by tstx(m): 5:38pm On Oct 19, 2017
ok
Re: Nigeria Enters League Of Steel Exporters by Deeldorado: 5:38pm On Oct 19, 2017
We came too late. The market for steel is already saturated. China has excess capacity in steel production, even US producers cannot compete. One of the biggest tragedies of the Nigerian story is the Ajaokuta steel complex, once labelled the biggest industrial project in SSA by the New York Times, with about $4 billion spent as at 1992. Yet, we mismanaged it and did not enter the export market when the time was ripe.

Ajaokuta would have been the basis of a linkage based industrialisation strategy for Nigeria but we messed it up. When top Japanese manufacturers like Kobe are running into scandals because they are finding it increasingly difficult to compete, that is when Nigeria wants to enter the export market. Futile attempt because you're late to the party. The best bet with our steel industry now is to focus supply on the domestic market. At least, it will save us some foreign exchange.

21 Likes 5 Shares

Re: Nigeria Enters League Of Steel Exporters by erico2k2(m): 5:39pm On Oct 19, 2017
Blue3k2:
Who new Nigeria exports steel would have never guessed. Lol something Nigeria couldn't 80's with Ajaokuta Steel Company. Oh well congrats to these guys.
What's the cost of 12mm in the mkt today ?
Re: Nigeria Enters League Of Steel Exporters by daveP(m): 5:39pm On Oct 19, 2017
Im i the only one that noticed the article didnt state where theyre extracting the steel from? smh.
Re: Nigeria Enters League Of Steel Exporters by erico2k2(m): 5:40pm On Oct 19, 2017
brainpulse:
Una they like fool yourself sha. The dumb corrupt GEJ slowpoke guy that doesn't even know we have such in the country.
Ahah see dem follow follow.una be like drum once dem beat una go play
Re: Nigeria Enters League Of Steel Exporters by la1(m): 5:40pm On Oct 19, 2017
more of such please.
Re: Nigeria Enters League Of Steel Exporters by SWORD419(m): 5:42pm On Oct 19, 2017
PMB IS working

3 Likes 1 Share

Re: Nigeria Enters League Of Steel Exporters by ifyan(m): 5:42pm On Oct 19, 2017
Sunnycliff:
Is our internal steel demand enough before we talk of exporting?

This is where Nigerians always got it wrong remember despite the government claimed of yam exporting nation. The price of yam and it kind are still very expensive in the local market.

Nigeria always getting it wrong especially in this administration.

I lie

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