Steel minister seeks upward review of 2025 budget

Shaiubu Abubakar Audu, minister of steel development, has called on the Joint Committee on Steel Budget Defence to improve funding for revitalising the steel sector.

The minister made the call in Abuja on Friday when he presented the 2025 budget proposal for the steel industry, soliciting for adequate funding of the sector in Abuja on Friday.

Shuaibu noted that the 2025 capital budget proposal outlines the strategic approach of the ministry’s plan to revitalise the steel sector, an essential driver for Nigeria’s industrialisation and economic growth.

He also told the committee that the “ministry’s 2025 budget proposal is a far cry of what is needed to move the steel sector forward and therefore, solicited for increased Budgetary Allocation, adding that adequate funding would help reposition the sector for optimal performance.”

Shuaibu disclosed that the ministry’s expenditures have been carefully designed to align with the presidential mandate and the mission to enhance local capacity, create jobs and stimulate sustainable development.

He further assured the Joint Committee on Steel Development that funds allocated to the ministry will be properly utilised, noting that “never at his watch will the ministry misappropriate budgetary allocation to it,”

Speaking further, the minister reiterated his commitment towards improved supervision of the agencies under the ministry to ensure prompt discharge of their responsibilities and accountability.

In his remarks earlier, Patrick Ndubueze, chairman, Senate Committee on Steel, assured the ministry of its support and collaboration at all times that the Steel Sector plays a pivotal role in a nation’s development towards industrialization.

In her comment, Zainab Gimba, Chairman, the House Committee on Steel, stated that the development of the steel sector is sacrosanct. She acknowledged the contribution of steel development to revenue generation for the country.

However, she pointed out that corruption and mismanagement have largely affected the development of the steel sector in the past and assured the committee of its commitment to collaborate with the ministry’s present leadership to move the sector forward.