President Goodluck Jonathan
yesterday told investors not to panic as his government was fervently working
to bring the insecurity the Boko Haram sect has plunged the country into under
control.
yesterday told investors not to panic as his government was fervently working
to bring the insecurity the Boko Haram sect has plunged the country into under
control.
“Reports from around the world indicate an unacceptable
manifestation of insecurity largely orchestrated by individuals who have no
love for peace and harmony among members of humanity. In this regard, we will
continue to collaborate with our friends and allies to bring this menace of
insecurity to an end,” he stated.
manifestation of insecurity largely orchestrated by individuals who have no
love for peace and harmony among members of humanity. In this regard, we will
continue to collaborate with our friends and allies to bring this menace of
insecurity to an end,” he stated.
The president also noted that in its effort to fast-track the
industrialisation of the country, the federal government has concluded plans to
unveil its Industrial Revolution Plan (IRP) which is intended to develop the
ecosystem and make the country self-sufficient by harnessing the potential of
the steel sector as the hub of infrastructure development.
industrialisation of the country, the federal government has concluded plans to
unveil its Industrial Revolution Plan (IRP) which is intended to develop the
ecosystem and make the country self-sufficient by harnessing the potential of
the steel sector as the hub of infrastructure development.
Jonathan spoke at the commissioning of the multi-million-naira
state-of-the-art five-stand tandem cold-rolled steel plant by WEMPCO Steel Mill
Company Limited located on Kilometer 8, Magboro, Lagos-Ibadan expressway.
state-of-the-art five-stand tandem cold-rolled steel plant by WEMPCO Steel Mill
Company Limited located on Kilometer 8, Magboro, Lagos-Ibadan expressway.
He said, “We are committed to improving our investment climate
by providing and upgrading necessary infrastructure such as power, roads and
rail. Our aim is to keep attracting foreign and local direct investment into
key sectors of the economy that will create jobs, stimulate private sector
growth, continuous technology transfer and, ultimately, economic growth and
wealth for Nigerians and Nigeria.
by providing and upgrading necessary infrastructure such as power, roads and
rail. Our aim is to keep attracting foreign and local direct investment into
key sectors of the economy that will create jobs, stimulate private sector
growth, continuous technology transfer and, ultimately, economic growth and
wealth for Nigerians and Nigeria.
“Government will continue to encourage investors and investments
in this and other sectors for the good of our country and her great people. We
shall continue to support genuine investors that show interest in investing in
Nigeria. We expect investors to reciprocate this gesture by showing greater
dedication as well as transparency in their investment operations.”
in this and other sectors for the good of our country and her great people. We
shall continue to support genuine investors that show interest in investing in
Nigeria. We expect investors to reciprocate this gesture by showing greater
dedication as well as transparency in their investment operations.”
On the steel sector, the president said government has recorded
lots of achievements by raising the number of steel rolling mills to 15, from
an abysmal near-zero before the advent of the incumbent administration.
lots of achievements by raising the number of steel rolling mills to 15, from
an abysmal near-zero before the advent of the incumbent administration.
From a current figure of 3 million tonnes of liquid steel being
produced, the government intends to increase the number to 12 million in 2020,
Jonathan said. He added that self-sufficiency in steel production will open
downstream sector opportunities for many artisans and those that are currently
unemployed but have the requisite skills to put the resources to use.
produced, the government intends to increase the number to 12 million in 2020,
Jonathan said. He added that self-sufficiency in steel production will open
downstream sector opportunities for many artisans and those that are currently
unemployed but have the requisite skills to put the resources to use.
He commended the company for demonstrating that it has
confidence in the government by locating the cold steel plant on a
700,000-hectare land in Ogun State, thus contributing to the growth of the
gross domestic product (GDP), promoting job creation and acquisition of job
skills, among others.
confidence in the government by locating the cold steel plant on a
700,000-hectare land in Ogun State, thus contributing to the growth of the
gross domestic product (GDP), promoting job creation and acquisition of job
skills, among others.
Commending the Ogun State government for giant strides in
infrastructure development, Jonathan said Governor Ibikunle Amosun has done
tremendously well by making the environment conducive for investors and
bringing obvious result such as employment generation and increased internally
generated revenue to bear on the people of the state.
infrastructure development, Jonathan said Governor Ibikunle Amosun has done
tremendously well by making the environment conducive for investors and
bringing obvious result such as employment generation and increased internally
generated revenue to bear on the people of the state.
He further stated: “Ladies and gentlemen, the steel sector
offers immense economic opportunities for our country, which we have not fully
exploited. This administration, however, aims to reposition this industry. The
Ministry of Industry, Trade and Investment in conjunction with other MDAs, has
developed an Industrial Revolution Plan, which has identified the iron and
steel industry as a focal sector. This plan aims to develop the complete
ecosystem of this sub-sector.
offers immense economic opportunities for our country, which we have not fully
exploited. This administration, however, aims to reposition this industry. The
Ministry of Industry, Trade and Investment in conjunction with other MDAs, has
developed an Industrial Revolution Plan, which has identified the iron and
steel industry as a focal sector. This plan aims to develop the complete
ecosystem of this sub-sector.
“In addition, this administration has approved the Minerals and
Metals Development Road Map, which was recently presented to the general public
stipulating time-bound targets for the minerals and metals sector. This
document articulates the strategies to be adopted to ensure the accomplishment
of the set objectives of increasing steel production in Nigeria, which is
targeted at 3 million tonnes of liquid steel production by the end of this year
and progressively increase to 12 million tonnes of liquid steel by the year
2020.
Metals Development Road Map, which was recently presented to the general public
stipulating time-bound targets for the minerals and metals sector. This
document articulates the strategies to be adopted to ensure the accomplishment
of the set objectives of increasing steel production in Nigeria, which is
targeted at 3 million tonnes of liquid steel production by the end of this year
and progressively increase to 12 million tonnes of liquid steel by the year
2020.
“I would like to assure existing and prospective investors of
government support as we collectively strive for self-sufficiency in local
steel production. I strongly believe that self-sufficiency will open major
downstream sector activities with the attendant massive job opportunities and
economic empowerment for our engineers, technicians, artisans and fabricators
alike.”
government support as we collectively strive for self-sufficiency in local
steel production. I strongly believe that self-sufficiency will open major
downstream sector activities with the attendant massive job opportunities and
economic empowerment for our engineers, technicians, artisans and fabricators
alike.”
For his part, Governor Amosun said, within four years of his
first tenure, the IGR of the state rose from a paltry N700 million to about N4
billion this year, adding that the state has now been re-positioned as one with
the largest industrial base in the country.
first tenure, the IGR of the state rose from a paltry N700 million to about N4
billion this year, adding that the state has now been re-positioned as one with
the largest industrial base in the country.
The group managing director of WEMPCO Group, Mr Lewis Tung, who
noted that the steel sector is the backbone for infrastructural development in
the country, said it is equally crucial and fundamental to any development as
well.
noted that the steel sector is the backbone for infrastructural development in
the country, said it is equally crucial and fundamental to any development as
well.
Source: Leadership
