The Executive Vice Chairman/ Chief Executive, National Agency for Science and Engineering Infrastructure (NASENI) Prof. Mohammed Haruna said the revival of the nation’s steel industry is a must for the development of automotive manufacturing in the country.
He said without fixing the steel industry, the nation’s automotive aspiration would not be realised. He said the Federal Government should adopt Public-Private Partnership (PPP) model to fund steel complexes.
He said Nigeria should not own more than 40 per cent equity in such partnership. Haruna, who made the submission in a presentation to the steel council in Abuja, said NASENI will invest in any venture, targeted at producing iron and steel products from Nigeria raw material, with the private sector and the steel council.
“Government should raise fund or generate a fund for privatised Ajaokuta Steel with incentives to guarantee its completion. “Government should thereafter support local production by levying a development for tax on steel imported into Nigeria during the resuscitation period to fund the establishment of steel development fund which is accessible to investors.”
“The new National Steel Council has to resist the temptation of using foreign consultants and the so-called development partners who are here to corrupt the officials and offers foreign travels as free meals to ensure that the country geopolitical interference and sectional partisan politics.”
He assured the council that NASENI will seek its board’s approval to invest in any venture, targeted at producing iron and steel products from Nigeria Raw Material, with the private sector and the council
