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The Federal Government has expressed its readiness to support genuine investors with the necessary incentives using appropriate fiscal measures.
Dr. Uchechukwu Sampson Ogah, the Minister of State, Mines and Steel Development disclosed this during a facility tour of African Natural Resources and Mines Limited Integrated Steel Plant, Jere, Gujeni Village, Kagarko Local Government of Kaduna State.
He reiterated his ministry’s commitment to ensure that the Minerals and Steel Sector becomes the mainstay of the Nigerian economy in line with the present administration’s economic diversification agenda.
He added that in line with the President Muhammadu Buhari’s diversification agenda, his ministry has laid a solid foundation for the industrial development of the nation using the steel sector as the nation is awash with abundant steel making raw materials.
He expressed optimism that the completion of the facility, being one of the biggest foreign direct investment to the sector, would be of immense benefit to the country, as it would help the Federal Government earn Foreign Reserve as well as provide employment for thousands of Nigerian youths.
He lauded the Gupta brothers for investing in the mining sector and implored them to provide regular update to the ministry to enable it support the completion of the facility, within the life span of the current administration.
Speaking,In his address, Alok Gupta, Group Managing Director, African Industries Group, disclosed that the site would process 5.4 million tonnes of iron ore and produce Direct Reduced Iron (DRI) for both domestic and export markets
According to him, the first phase of the project, which is expected to be completed and commissioned in 2022, would provide jobs for over 3,500 people.
He expressed appreciation to the Ministry for the tremendous support it has extended to it.
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