Why haven't "industrialists" like Dangote and Rabiu invest in steel production the same way they have gone into cement and agriculture? Steel is the most important ingredient for the industrialization of Africa. So what are the macro-economic or government factors preventing them from producing steel. Dangote owns an idle steel mill, but he is not producing.

_{Below is an image of the moribund Osogbo steel rolling mill which belongs to Dangote}

There are no complementary industries in Nigeria. A country must have manufacturing industries with base material as steel its steel mill to be functional. .

Dedetwo:
There are no complementary industries in Nigeria. A country must have manufacturing industries with base material as steel its steel mill to be functional. .

Na lie. the construction industry requires steel. It is needed to build rails, bus terminals, ports, etc. You have no idea what you are talking about.

Aconomist:
Why haven't "industrialists" like Dangote and Rabiu invest in steel production the same way they have gone into cement and agriculture? Steel is the most important ingredient for the industrialization of Africa. So what are the macro-economic or government factors preventing them from producing steel. Dangote owns an idle steel mill, but he is not producing.

_{Below is an image of the moribund Osogbo steel rolling mill which belongs to Dangote}

Why do you have 'industrialists' in quotes, you nasty person?

Just because they're nor producing what you dictate doesn't mean they're not industrialists.

I thought the other day you were praying for Nigeria to ''burn down in flames'', so what is your business with what our industrialists produce or don't produce?

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Nigeria’s $1.5 billion steel plant set to produce 1 million MT of steel annually

Nigeria nears steel independence as $1.5 billion steel plant in Kaduna is set to produce 1 million MT of steel annually.



The Federal government of Nigeria has disclosed that it is expecting an annual output of one million metric tonnes of steel from its $1.5 billion steel plant in Kaduna.

This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed while inspecting the steel plant facility at the African Natural Resouces and Mines Limited in Kaduna.

According to The Punch, Mrs Zainab Ahmed during the inspection of the facility said that the $1.5 billion steel plant which is now nearing completion, would produce one million metric tonnes of steel annually. She emphasized that the facility is critical to the nation as it is tactical to the looming steel revolution in Nigeria.

The $1.5 billion steel plant built by African Resources and Mines Limited, a subsidiary of African Industries Group (AIG) is at an advanced stage of completion.

The plant which is billed to commence the first phase of production in the mining of Iron ore, and production of Direct Reduced Iron in a matter of months is expected to produce one million metric tonnes of steel annually.


Why this matters

This development is expected to resuscitate Nigeria’s steel industry which has been lifeless for a while, and help put an end to the importation of steel in Nigeria. This will also reduce the pressure on the Nation’s foreign reserve, and bolster the foreign reserve of the country.

It is expected to boost domestic steel production and attract foreign investors’ participation in the industry, especially auto producers around the world.

However, the facility will create employment opportunities for Nigerians both directly and directly and indirectly.


What they are saying

Alok Gupta, the Group Managing Director of AIG, said the firm would be mining iron ore to produce direct reduced iron, which would enable the company to produce higher-grade steel more efficiently.

He explained that the investment by the company in the Nation’s steel industry will dramatically increase domestic production, and this will have multiple effects on the Nigerian economy.


The Minister of Finance emphasized that the recent investment in the steel industry by AIG which is about to yield gains both for the company and the economy will attract the auto industries of the world to come into Nigeria and produce cars in Nigeria for Nigerians, and other countries in West Africa.


Bottomline

The investment of AIG in the steel industry is expected to drive the country towards steel independence, and pave the way for Nigeria’s steel revolution and the development of the automobile industry in the nation.

https://nairametrics.com/2020/10/19/nigerias-1-5-billion-steel-plant-set-to-produce-1-million-mt-of-steel-annually/

Rossntti:
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Nigeria’s $1.5 billion steel plant set to produce 1 million MT of steel annually

Nigeria nears steel independence as $1.5 billion steel plant in Kaduna is set to produce 1 million MT of steel annually.



The Federal government of Nigeria has disclosed that it is expecting an annual output of one million metric tonnes of steel from its $1.5 billion steel plant in Kaduna.

This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed while inspecting the steel plant facility at the African Natural Resouces and Mines Limited in Kaduna.

According to The Punch, Mrs Zainab Ahmed during the inspection of the facility said that the $1.5 billion steel plant which is now nearing completion, would produce one million metric tonnes of steel annually. She emphasized that the facility is critical to the nation as it is tactical to the looming steel revolution in Nigeria.

The $1.5 billion steel plant built by African Resources and Mines Limited, a subsidiary of African Industries Group (AIG) is at an advanced stage of completion.

The plant which is billed to commence the first phase of production in the mining of Iron ore, and production of Direct Reduced Iron in a matter of months is expected to produce one million metric tonnes of steel annually.


Why this matters

This development is expected to resuscitate Nigeria’s steel industry which has been lifeless for a while, and help put an end to the importation of steel in Nigeria. This will also reduce the pressure on the Nation’s foreign reserve, and bolster the foreign reserve of the country.

It is expected to boost domestic steel production and attract foreign investors’ participation in the industry, especially auto producers around the world.

However, the facility will create employment opportunities for Nigerians both directly and directly and indirectly.


What they are saying

Alok Gupta, the Group Managing Director of AIG, said the firm would be mining iron ore to produce direct reduced iron, which would enable the company to produce higher-grade steel more efficiently.

He explained that the investment by the company in the Nation’s steel industry will dramatically increase domestic production, and this will have multiple effects on the Nigerian economy.


The Minister of Finance emphasized that the recent investment in the steel industry by AIG which is about to yield gains both for the company and the economy will attract the auto industries of the world to come into Nigeria and produce cars in Nigeria for Nigerians, and other countries in West Africa.


Bottomline

The investment of AIG in the steel industry is expected to drive the country towards steel independence, and pave the way for Nigeria’s steel revolution and the development of the automobile industry in the nation.

https://nairametrics.com/2020/10/19/nigerias-1-5-billion-steel-plant-set-to-produce-1-million-mt-of-steel-annually/

Why Kaduna? last I checked, iron is mined at Kogi.

Op simply create a steel company na.

Rossntti:
.
.
Nigeria’s $1.5 billion steel plant set to produce 1 million MT of steel annually

Nigeria nears steel independence as $1.5 billion steel plant in Kaduna is set to produce 1 million MT of steel annually.



The Federal government of Nigeria has disclosed that it is expecting an annual output of one million metric tonnes of steel from its $1.5 billion steel plant in Kaduna.

This was disclosed by the Minister of Finance, Budget and National Planning, Mrs Zainab Shamsuna Ahmed while inspecting the steel plant facility at the African Natural Resouces and Mines Limited in Kaduna.

According to The Punch, Mrs Zainab Ahmed during the inspection of the facility said that the $1.5 billion steel plant which is now nearing completion, would produce one million metric tonnes of steel annually. She emphasized that the facility is critical to the nation as it is tactical to the looming steel revolution in Nigeria.

The $1.5 billion steel plant built by African Resources and Mines Limited, a subsidiary of African Industries Group (AIG) is at an advanced stage of completion.

The plant which is billed to commence the first phase of production in the mining of Iron ore, and production of Direct Reduced Iron in a matter of months is expected to produce one million metric tonnes of steel annually.


Why this matters

This development is expected to resuscitate Nigeria’s steel industry which has been lifeless for a while, and help put an end to the importation of steel in Nigeria. This will also reduce the pressure on the Nation’s foreign reserve, and bolster the foreign reserve of the country.

It is expected to boost domestic steel production and attract foreign investors’ participation in the industry, especially auto producers around the world.

However, the facility will create employment opportunities for Nigerians both directly and directly and indirectly.


What they are saying

Alok Gupta, the Group Managing Director of AIG, said the firm would be mining iron ore to produce direct reduced iron, which would enable the company to produce higher-grade steel more efficiently.

He explained that the investment by the company in the Nation’s steel industry will dramatically increase domestic production, and this will have multiple effects on the Nigerian economy.


The Minister of Finance emphasized that the recent investment in the steel industry by AIG which is about to yield gains both for the company and the economy will attract the auto industries of the world to come into Nigeria and produce cars in Nigeria for Nigerians, and other countries in West Africa.


Bottomline

The investment of AIG in the steel industry is expected to drive the country towards steel independence, and pave the way for Nigeria’s steel revolution and the development of the automobile industry in the nation.

https://nairametrics.com/2020/10/19/nigerias-1-5-billion-steel-plant-set-to-produce-1-million-mt-of-steel-annually/

Story. I have been hearing similar thing in the past 10 years.

capitalzero:

Story. I have been hearing similar thing in the past 10 years.

Who the hell cares what YOU think?

People are busy doing things while you sit in one corner, disgruntled and useless.

ednut1:
Op simply create a steel company na.

Lol its easier to open threads whining about others.

Aconomist:
Na lie. the construction industry requires steel. It is needed to build rails, bus terminals, ports, etc. You have no idea what you are talking about.

Lmao

Blue3k:


Lol its easier to open threads whining about others.

i tire o. It's an opportunity, pitch it to investors

Blue3k:


Lol its easier to open threads whining about others.

Exactly.

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