Minister of Steel Development, Prince Shuaibu Audu Tours Delta Steel Plant, Pledges Support for Revitalization
By Joseph Sunday
The Minister of Steel Development, Prince Shuaibu Audu Abubakar, has visited the Delta Steel Plant, now known as Premium Steel and Mines Limited, in Aladja, Delta State.
During the tour, the Minister expressed optimism about the plant’s potential, citing its capacity to produce one million metric tons of liquid steel annually when it was built in the 80s.
The Minister acknowledged that the plant has been non-operational since 2021 but emphasized the need for federal government support to resuscitate it.
- Advertisement -
He discussed potential partnerships with the management, including an ongoing collaboration with a Fortune 500 Global Steel Firm.
The Minister suggested that with federal government backing, the plant could be revived within 18 months, potentially cutting off six months from the projected 24-month timeline.
This, he said, would align with President Bola Ahmed Tinubu’s Renewed Hope Agenda, which aims to create a $1 trillion economy by 2025.
Prince Abubakar highlighted the importance of revitalizing the steel industry, citing Nigeria’s annual importation of four million metric tons of steel, worth approximately $4 billion.
He emphasized the need to reverse this trend and work towards self-sufficiency in steel production.
The Minister’s visit signals the government’s commitment to boosting the steel sector and promoting economic growth. The Delta Steel Plant’s revival could have significant implications for the industry, including job creation and increased economic activity.
