New Year Message Of The Honourable Minister Of Steel Development, Prince Shuaibu Abubakar Audu

Prince Shuaibu Abubakar Audu

I give gratitude to Almighty Allah for the successful completion of 2023 and felicitate with His Excellency, President Bola Ahmed Tinubu GCFR as well as Nigerians worldwide on the beginning of a new year 2024.

2023 ushered in a new era of ‘Renewed Hope’ under the leadership of His Excellency, President Bola Ahmed Tinubu GCFR, with an eight-point agenda focused on Nigeria’s economic prosperity, job creation, poverty alleviation, as well as tackling the numerous security challenges, amongst other plans.

At the core of the ‘Renewed Hope Agenda’ is the revitalization of the steel industry in Nigeria, which prompted the creation of the Ministry of Steel Development by Mr. President in August 2023 with a core mandate.

2024 presents a new and unique opportunity for the industrialization of Nigeria and the revival of our steel industry, with steps already being taken towards achieving these goals across the country.

A roadmap will be designed in early 2024 for the resuscitation of the steel industry: a five-year plan for Nigeria’s steel sector revival and a three-year plan for the Ajaokuta steel plant.

Our goal is to create over 500,000 jobs for Nigerians within an operational steel industry before the end of President Bola Ahmed Tinubu GCFR 2nd term in office. This particular vision is already being realised, with close to 200 youths already engaged in the steel industry across the country in my first 4 months in office. More will be done in this regard.

In addition, International investors have shown firm commitments to invest billions of dollars in developing Nigeria’s steel industry and building new plants following President Tinubu’s efforts to secure investments for the steel industry in Nigeria at gatherings of World Political and Business Leaders including the recently held G20 summit in Dehli, India.

The Ministry of Steel Development is working assiduously to create a favourable operating environment for investors (both local and foreign). Government levies also need to be increased on importation of Steel into the country as measures to ensure import substitution, amongst other positive measures are put in place.

I thank His Excellency, President Bola Ahmed Tinubu GCFR once again for giving me the opportunity to serve our great country, Nigeria. A lot of work needs to be done to revive a challenging and ailing industry, and by the special grace of God, we will rise to the occasion in delivering the President’s vision for the Steel Industry in Nigeria. I wish you all a happy and prosperous 2024 filled with good health, peace, and progress.

Prince Shuaibu Abubakar Audu
Honourable Minister of Steel Development
Federal Republic of Nigeria.
January 1, 2024.

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