The Federal Government has said that the $1.5bn steel plant that is nearing completion in Kaduna State will attract automobile industries to Nigeria when completed.
Minister of Finance, Budget and National Planning, Zainab Ahmed, disclosed this during an inspection tour of the African Natural Resources and Mines, an African Industries Group company in Kaduna.
The minister, who spoke on Saturday while inspecting the plant, said the facility would produce one million metric tonnes of steel annually and would help put an end to the importation of the commodity into Nigeria.
Ahmed said, “We have deliberately attracted various industries to come into Nigeria. This is because one of the main impediments to industrialisation has been the scarcity of high quality steel.
“So by this project we are now assured that we can attract the auto industries of the world to come into Nigeria and produce cars in Nigeria for Nigerians, as well as for the region.”
Ahmed described the African Natural Resources and Mines group as major partner for Nigeria’s economic development and diversification.
Top 5 downstream aluminium projects of 2024 to redefine the value-added product industry
Ricoh's latest development set to cut costs & improve accuracy in aluminium binder jetting method
