Steel Importation Consumes 4.5 Dollars Annually
It has been reported that Nigeria spends up to 4.5 billion US dollars every year in the importation of steel. And this is despite having a huge potential for steel smelting on ground.
The comatose stage that the Ajaokuta steel company has been along several years of many assurances leaves more concerns and much worry especially with the current reality.
Subsequent governments have given wordy assurances to reviving the Ajaokuta steel industry but it seems not enough just is been done in the genuine effort to see the institution back to functioning.
Generally referred to as a white elephant, the aluminium smelting company which has consumed so much billions of naira, just continued to be non-functional, leaving much of the steel needs to be sourced from outside.
It's believed that if functional, this industry seemingly ignored would serve not only the Nigerian market needs but internationally. But as to why such huge prospect has been ignored leaves much to be desired.
The comatose stage that the Ajaokuta steel company has been along several years of many assurances leaves more concerns and much worry especially with the current reality.
Subsequent governments have given wordy assurances to reviving the Ajaokuta steel industry but it seems not enough just is been done in the genuine effort to see the institution back to functioning.
Generally referred to as a white elephant, the aluminium smelting company which has consumed so much billions of naira, just continued to be non-functional, leaving much of the steel needs to be sourced from outside.
It's believed that if functional, this industry seemingly ignored would serve not only the Nigerian market needs but internationally. But as to why such huge prospect has been ignored leaves much to be desired.
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