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

okay

HURRAY HURRAY

FTC

OYA LALASTICLALA DO THE NEEDFUL

CREDIT MY ACCT ASAP

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.

This is a great news coming from Nigeria.

I am the best weight loss doctor

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.

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.

I hope they will sustain it oo

Extraordinary league... My President is working

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?

good I think

Is our internal steel demand enough before we talk of exporting?

April fool!

sigh

Very good one. Nigeria is working

Another legacy of GEJ on the front page today

1up for Nigeria..

Where are the foolish afonjas claiming that innoson only assembles his vehicle......now you know where he actually gets some of his materials from

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.

Ok thanks to every looter that made this possible, including the indolent legislators and executheives.

modelmike7:
Extraordinary league...
My President is working

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

Good

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

It will not impact or change anything for the poor Nigerians so to me is meaningless.

SalamRushdie:

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

Okay seen.....

God purnish buhari.God pls bless Trump and Putin cuz they are Christians.

ok

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.

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 ?

Im i the only one that noticed the article didnt state where theyre extracting the steel from? smh.

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

more of such please.

PMB IS working

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