MINISTER OF STEEL DEVELOPMENT VISITS LEADING INDIGENOUS STEEL PRODUCER, KAM INDUSTRIES, SAYS FG KEEN ON ENCOURAGING INDIGENOUS PLAYERS

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The Honourable Minister of Steel Development, Prince Shuaibu Abubakar Audu has embarked on a two-day working visit to leading indigenous player, KAM Industries in Kwara and Ogun States as the Federal Government commits to industrialising Nigeria through the Steel and Metals Sectors.

The two-day visit of the Honourable Minister from May 7 to May 8 2024, to KAM’s steel production factories in Jimba Oja, Kwara State, and Sagamu in Ogun State aims to assess the steel production by the company.

Prince Audu, during his courtesy call to the governor of Kwara State and Chairman, Nigeria’s Governors Forum, Mal. Abdulrahman Abdulrasak CON, reiterated the commitments of President Bola Ahmed Tinubu GCFR to reviving the nation’s Steel and Metals Industry in a bid to diversify and grow the Nigerian economy to over one trillion dollars before the end of his administration.

The Honourable Minister further noted that his visit to KAM Steel, a subsidiary of KAM Holding, is also to encourage indigenous players in Nigeria’s steel sector, commending the Chairman and Group Managing Director of the company, Alhaji Kamoru Yusuf MON, for such massive investments, which has significantly contributed to Nigeria’s economy by employing over 20,000 Nigerians and pumping hundreds of billions of Naira into the economy.

“My visit to Kwara State is to encourage indigenous players in the steel industry. We have been discussing across board with some foreign investors that are interested in coming to Nigeria, but I also thought it imperative to also associate, pay a visit, and support indigenous players that are doing extremely well in the steel and metals industry in Nigeria.
KAM Holding is the leading indigenous steel company in Nigeria.

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“Under the renewed hope agenda of President Bola Ahmed Tinubu GCFR, one of his cardinal objectives is to grow the size of Nigeria’s GDP to over 1 trillion dollars by the end of his second term in office. And part of what we have to do to enable us to achieve that is to focus on industrialization.

“Industrialization has the capacity to create millions of jobs, and Mr. President wants to provide more than 80 million jobs for Nigerians over the next eight years of his administration, and the steel industry is going to play a very key role in that regard.

“So, under the eight-point agenda of Mr. President, certain things have to be put in place to ensure that Nigeria is working for Nigerians.

“I am here to first of all pay my respect and acknowledge the Executive Governor of Kwara State for doing such a wonderful job across the sub-sectors of the economy for the people of Kwara,” Prince Audu said.

In his remarks, the Executive Governor of Kwara State and Chairman of Nigeria’s Governors’ Forum, Mal. AbdulRahman Abdulrazak, commended the Honourable Minister for the visit to the site to see for himself the true facts before setting up policies for moving the industry forward.

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Gov. Abdulrazak also expressed confidence in the leadership of Prince Audu as Minister to get the steel industry of the country right, urging the ministry to consider including KAM Holdings as an indigenous partner in its revival plans for Ajaokuta.

“Kwara holds the second largest steel production in Nigeria through the activities of KAM Holdings, led by Alhaji Kamaru Yusuf. We hold him in high esteem here; his investment is in trillions of naira.

“Making Ajaokuta work is an albatross, which we are confident you will unite the issues there. Without getting the steel sector right, Nigeria cannot be industrialised,” Gov. Abdulrazak said.

In her welcome address, the Vice Chairman, KAM Holding Ltd, Dr. Iyadunni Bolanle Yusuf, revealed that in the past, the steel sector was dominated by foreign owned companies until KAM Holding Ltd came on the scene, noting that KAM Holding Ltd is home to manufacturing companies of liquid, iron, and steel products that are wholly owned by Nigerians.

Dr. Iyadunni Bolanle Yusuf appealed to the Ministry to ensure it protects the indigenous steel manufacturing sector, as it plays a critical role in the growth and development of the country by providing materials for building infrastructure, automobiles, engineering, defence, and being the bedrock of industrialisation.

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The Honourable Minister also paid a courtesy visit to the Emir of Ilorin, Alhaji Ibrahim Sulu-Gambari.

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