Minister of Mines and Steel Development, Olamilekan Adegbite, has advised Premium Steel and Mines Limited, Warri, Delta State, to speed up its production process.
Adegbite gave the charge during a facility tour of the company recently.
He disclosed that the mandate of the ministry is to expand the steel sector, use it to diversify the economy, create jobs and generate revenue for the government, adding that government is willing to do everything to support the industry, hence the proposed Metallurgical Industrial Bill, which is before the council for approval.
Reacting to the minister’s statement, Chief Sunny Onuesoke, a business entrepreneur, said Premium Steel and Mines Limited would save the nation more than a million tons of steel in import and conserve about $600 million in foreign exchange when operation goes at full capacity.
Onuesoke, who commended the Federal Government for the bill, stressed that the steel sector is a stimulus to the overall Gross Domestic Product of the country and called on the Federal Government to sell off the age-long, non-functional Ajaokuta Steel Company to a private hand for the benefit of Nigerians.
The community leader and former governorship aspirant under the Peoples Democratic Party (PDP), averred that the private sector would exert more expertise in restructuring the national asset for the benefit of the people if given a chance.
He stressed that no Nigerian would visit Ajaokuta Steel Company to see investments of more than $8 billion rotting away and would not betray emotions, lamenting “I went there, I cried and asked. What exactly is the problem?”
The business entrepreneur urged President Muhammadu Buhari, when conceding the facility, to “be careful in his choice of those to assist in the implementation of the concession.
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