The Nigerian government has appealed to the World Bank to help develop the country’s steel sector.
The Minister of Steel Development, Prince Shaiubu Abubakar Audu, made this appeal during a meeting with a World Bank delegation in the Ministry’s headquarters on Thursday.
According to him, the steel industry is vital for economic progress and industrialisation.
He added that it is imperative that a comprehensive roadmap for the steel sector be developed to address current issues and pave the way for a sustainable future for the steel industry in Nigeria.
Noting that the need for a strategic plan for the steel industry in Nigeria cannot be overstated, the minister added that with the right framework in place, the sector can unlock its full potential, create jobs, boost local production and contribute significantly to the country’s GDP.
In her remarks, the leader of the World Bank delegation, Noora Arfaa, declared that the institution is willing to provide supervision and support for the preparation of a roadmap for the steel industry in Nigeria.
She noted that the World Bank has a work programme and activity plan, beginning from January 2025, that would see a roadmap for Nigeria drafted and adopted by August 2025.
