The Nigerian Metallurgical Society has called on the Federal Government to introduce a policy to stop the importation of iron and steel in the country.
Mr Sanusi Mohammed, Secretary General, African Iron and Steel Association, told the News Agency of Nigeria (NAN) on Tuesday in Abuja that steel importation costs the country about N2.3 trillion annually.
Mohammed said the figure was given by the Bureau of Statistics as spent by Nigeria in 2013.
The Nigerian Metallurgical Society has called on the Federal Government to introduce a policy to stop the importation of iron and steel in the country.
Mr Sanusi Mohammed, Secretary General, African Iron and Steel Association, told the News Agency of Nigeria (NAN) on Tuesday in Abuja that steel importation costs the country about N2.3 trillion annually.
Mohammed said the figure was given by the Bureau of Statistics as spent by Nigeria in 2013.
According to him, Nigeria's budget is less than five trillion naira annually, adding that spending such amount yearly basically on importation of iron and steel is boosting other countries’ economies.
He said the association would hold its 31st Annual Conference and Annual General Meeting with the theme: “Building local capabilities in the Nigerian metals industry.’’
According to him, the conference will hold in Abuja from Oct. 28 to 30 and no fewer than 250 participants and five foreigners are expected to attend it.
Mohammed, who is the Chairman, Conference Organising Committee, said the council of the society formulated the theme to attract the current administration's support to improve the local metal industry.
“Over the years, we have come up with different themes; but we are introducing this theme because we want the present administration to empower our local metal industries and to stop importation of steel.
“We have all the materials and minerals required to produce iron and steel rather than boosting other nations Gross Domestic Product (GDP),’’ he said.
He said the past conferences held by the society had helped to sustain the steel industry from being totally neglected by past governments.
“Communiques from our previous conferences were sent to the past administrations not to neglect or abandon Nigeria steel industries, as they can generate more capital than crude oil, if revived.
“A Canadian consultant firm, National Infrastructure Advisory Facility, hired by the past administration to come up with a solution on how to revive the Nigerian steel industries, gave wrong recommendations.
“The consultant recommended that the industries are not viable and should be neglected, but as a society we were able to stop government not to yield to the advice.’’
NAN reports that the Nigeria Metallurgical Society is a professional body of metallurgical engineers, metallurgists, material engineers and scientists.
The society was founded in 1978 with aims and objectives such as promoting the science, engineering technology and general practice of metallurgy.
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