By ABAH ADAH, Abuja
Nigeria’s Federal Ministry of Steel Development has presented its 2025 proposed budget targeted at actualising the much awaited revitalisation of the steel industry in the country for industrialisation and economic growth before the National Assembly (NASS).
The Minister, Prince Shaiubu Abubakar Audu, while making the presentation to the Joint Committee on Steel Budget Defence of both the Senate and the House of Representatives of NASS in Abuja, noted that the 2025 capital budget proposal outlines the strategic approach of the ministry to revitalising the steel sector which is an essential driver for Nigeria’s industrialisation and economic growth.
Audu disclosed that the ministry’s expenditures have been carefully designed to align with the Presidential mandate and the ministry’s mission to enhance local capacity, create jobs, and stimulate sustainable development, according to a statement signed by Ijomah Opia for the director, Press and Public Relations in the ministry.
He told the Committee that the ministry’s 2025 budget proposal is a far cry from what is needed to move the steel sector forward and therefore solicited for increased budgetary allocation as, according to him, adequate funding is required to reposition the all-important sector for optimal performance.
Audu assured the committee that funds allocated to the ministry would be properly utilised, noting that it is never under his watch that the ministry will misappropriate its budgetary allocation.
The Minister reiterated his commitment to improved supervision of the agencies under the ministry to ensure prompt discharge of their responsibilities and accountability.
Earlier in his remarks, the Chairman, Senate Committee on Steel, Senator Patrick Ndubueze, while assuring the ministry of its support and collaboration at all times acknowledged the pivotal role the steel sector plays in a nation’s d
industrialisation and overall development.
Speaking, the Chairman, House of Representatives Committee on Steel, Honourable Zainab Gimba, averred that the development of the steel sector is sacrosanct, acknowledging the importance of steel development to revenue generation for the country.
She however pointed out that corruption and mismanagement have largely affected the development of the sector in the past, and assured of the committee’s commitment to collaborate with the present leadership of the ministry to move the sector forward.