• Friday, March 29, 2024
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KAM Industries chairman elected MAN Basic Metals helmsman

Kamorudeen Yusuf

Kamorudeen Yusuf, chairman of Kam Group, has emerged as the head of Basic Metal, Iron and Steel group of the Manufacturers Association of Nigeria (MAN).

Kam Industries, based in Ilorin, Kwara State, produces nails , wire mesh for concrete reinforcement, binding wires and roofing sheets, among others.

The company has five factories in Ilorin and a granite quarry, and is estimated at over $300 million.

The newly elected chairman of Basic Metal, Iron and Steel, in an interview lamented that genuine investors in the country pay import tariffs to the government while smugglers flood the market with substandard goods without paying any duty.

He admitted that the Central Bank of Nigeria (CBN) makes foreign exchange available for manufacturers and supports them in many ways, but warned that nothing would be achieved when smuggling is rife.

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He urged the Standards Organisation of Nigeria (SON) to stop allowing substandard steel products into the local market.

“A situation where the SON says products should not be less than 0.15mm but some flood the market with products with less than 0.12mm calls for concern,” he said.

He stressed the need to plug such leakages to save multi-billion naira investments in the country.

He pledged that he would do everything within his powers to raise the status of the steel sector in the country.