Federal government has been urged to indigenize iron and steel industries so as to allow local investors hold major interests to make the business viable.
The Chairman, Basic metal, fabricated iron and steel products, Dr. Kamoru Yusuf, made the call while Speaking at the meeting of stakeholders in Iron and Steel sector in Ilorin.
He said the future of iron and steel business in Nigeria would heavily be dictated by the policy thrust of government which must be tailored towards rendering necessary support and ease of doing business to investors in the sector.
He appealed to federal government to privatize Ajaokuta steel plant and allow it to work in the hands of local investors.
Dr. Yusuf noted that Nigeria needs to pride herself as the giant of Africa by making judicious use of her indigenous investors with adequate recognition of the stakes of the government.
In his remark, the Director, Industrial Development Department, federal Ministry of Industry, Trade and Investment, Adewale Bakare, said that the stakeholders’ meeting was necessitated by the ongoing effort of the ministry at repositioning the iron and steel sector .
ALI MUHAMMAD RABIU
