FG requests World Bank’s support on steel development, roadmap

The Federal Ministry of Steel Development has sought World Bank support for the development of steel roadmap and other critical areas of the steel sector in Nigeria.

Shaiubu Abubakar Audu, the Minister made the request at a meeting with the World Bank delegation in the Ministry’s HHeadquarters in Abuja.

Audu stated that “As a vital sector for economic progress and iindustrialisation it is imperative that a comprehensive Roadmap for the Steel Sector be developed to address the current issues and pave the way for a sustainable future for steel in Nigeria.”

He noted that the need for a strategic plan for the steel industry in Nigeria cannot be overstated, he added that with the right framework in place, the industry could unlock its full potentials, create jobs, boost local production and contribute significantly to the Country’s GDP.

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Audu stated that some of the critical areas that needed to be addressed in the Roadmap, include the evaluation and determination of steel raw materials; development of health safety guidelines for the steel sector in Nigeria, design and develop a national metal scrap policy framework; develop a National Steel Laboratory for quality assurance as well as develop online portal for steel and other metal products imported into the Country.

The Minister asserted that by focusing on these key areas, the Country could create a conducive environment for the steel industry to thrive and compete globally.

Noora Arfaa, leader of the World Bank delegation, declared that the World Bank was willing to provide supervision and support for the preparation of a Roadmap for the Steel Industry in Nigeria.

She intimated that the World Bank has a work programme and activity plan outlined, beginning from January 2025 that would see a Roadmap for Nigeria drafted and adopted by August 2025.

She appealed to the Ministry to ensure it provides the scope of data that will be needed by the World Bank, noting that the objective of the Roadmap is to prioritise action that will unlock investments across ETM, and other critical minerals value chains, thereby driving economic diversification and inclusive and sustainable development.