Minister highlights role of steel in economic growth
THE Minister of State, Ministry of Steel Development, Uba Maigari Ahmadu, on Wednesday, highlighted the critical role of the steel sector in driving sustainable economic growth.
The minister said that the steel sector was essential in the oil and gas industry as it allows for the extraction of valuable resources that are used to fuel the country's economy and power daily lives as well as create various components that are used in the exploration, production and transportation.
Ahmadu said this at the eighth sub-sahara Africa International Petroleum Exhibition and Conference (SAIPEC), restating the commitment of the current to reviving the steel sector to harness its gains for sustainable development,
Ahmadu, in a statement by the Ministry's Chief Information Officer, Tineiulun Maureen, emphasized the need for collaboration between the ministry and the oil and gas industry, stating that the steel sector plays a significant role in the development of the oil and gas industry.
“The establishment of the Ministry of Steel Development by President Bola Ahmed Tinubu is a strategic and visionary move aimed at advancing Nigeria's industrialisation and economic diversification agenda. The importance and rationale for the decision are multifaceted and underscore the critical role of steel development in driving sustainable economic growth and national development.
“The renewed focus on steel development aligns with the overarching goals of the ‘Renewed Hope Agenda’, including industrialisation, job creation, economic empowerment and sustainable development, positioning Nigeria for enhanced competitiveness and prosperity in the global arenas.”
He said gas exploration and production would be impossible without steel fabrication because it provides reliable and robust structures to withstand the harsh environment of oil and gas production, transportation and storage.
Chairman of the Petroleum Technology Association of Nigeria (PETAN), Nicolas Odinuwe, said that the theme of the conference, ‘The Next Steps: Accelerating African Content’ resonated deeply with the association and signifies a collective determination to propel African content to new heights, break barriers and create opportunities for the continent's talented content creators.
He added that the time has come for Africa to take center stage, to showcase its rich cultural heritage and to tell its stories to the world.