Steel Development Ministry, NIPC Collaborate to Revive NSRMEA, NMTI

* Niger Extraction Company to establish $300m steel plant in state

Kasim Sumaina in Abuja

The Ministry of Steel Development is set to collaborate with the Nigerian Investment Promotion Commission (NIPC) for the revitalisation and operationalisation of the National Steel Raw Materials Exploration Agency (NSRMEA), Kaduna and the National Metallurgical Institute, Onitsha.

The move, the duo said was in line with the Renewed Hope Agenda of the Bola Ahmed Tinubu’s Administration and in achieving its mandate of ensuring that the nation’s steel sector contributes to the sustainable development of the economy and the Gross Domestic Product (GDP).

This was even as the Minister of State, Ministry of Steel Development, Uba Maigari Ahmadu, disclosed that Niger Extraction Company Ltd, a Nigerian Company registered to undertake mining and steel development had sent in a proposal for the establishment of a $300 million Steel Plant in Niger State, a development which according to him, indicates that the Steel Sector is set to take off and deliver on its mandate.

Ahmadu, gave the hint yesterday, in Abuja when he played host to the Executive Secretary/CEO of the Nigerian Investment Promotion Commission, Aisha Rimi in the Ministry’s Headquarters.

Ahmadu, enumerated areas of collaboration to include among others: “Organising local and international investment fora for relevant stakeholders to showcase the full potentials of the NMTI with the view of attracting investments and funding for modernising and upgrading the institute’s facilities, curriculum, and training programs to meet industry international best standards and demand; Develop Policy Reforms and incentives that would be inclusive but not limited to legal, governance, finance tax incentives, and regulatory reforms that would reposition the institute to contribute more meaningfully to national manpower and infrastructure development.”

The Minister listed more areas of collaboration to include: Identifying local and international multilateral, multinational, Institutional and venture capitalists who could inject technical and financial capital into revitalsing the institute and position it as a center of excellence for metallurgical training and skills development; Establishing a PPP (Public Private Partnership) framework for the revival of  NMTI that would involve engaging with private sector stakeholders, such as steel companies, mining firms, and educational institutions, to form partnerships aimed at modernising the institute and aligning its training programs with industry.
Continuing, he identified areas of partnership with NIPC for NSRMEA to comprise: Accelerating investment interest from both local and International investments in exploration projects, with special interest in steel raw materials such as iron ore, manganese, coal, refractory, limestone, through establishing partnerships with mining companies and exploration firms; among others.

Ahmadu, expressed the Ministry’s willingness to leverage on the expertise and networks of NIPC, noting that the collaborative efforts of both organisations would help attract private sector investment, modernise exploration techniques, and enhance the capacity of NMTI and NSRMEA to fulfill their mandates.
Also speaking, the Permanent Secretary, Ministry of Steel Development/Ministry of Solid Minerals Development, Dr. Mary A Ogbe, while expressing optimism that the collaboration between the Ministry of Steel Development and the Nigerian Investment Promotion Commission was a step in the right direction, reiterated the ministry’s commitment to ensure the goals set during the deliberations are achieved.