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Federal Government has been urged to show more concern to the numerous challenges facing iron and steel manufacturers such that Indegenous investors will hold major interest while government holds marginal.
The Chairman, Basic Metal, Fabricated Iron and Steel Product, an arm of the Manufacturers Association of Nigeria, Dr Kamoru Yusuf made this call in Ilorin.
Dr Kamoru who is also the Managing Director of KAM HOLDINGS, observed that the future of iron and steel in the country will be dictated by policy thrust of government noting that such policy must be tailored towards rendering necessary support and ease of doing business in the sector.
He emphasised the need for government to allow Indegenous investors to be given opportunity to resuscitate the Ajaokuta Steel Industry because Nigeria stands higher chances of all the positive ripple effects on the economy.
Dr Kamoru advised the Federal Government to take a cue from its developed counterparts by allowing credit insurance underwriters to operate in Nigeria because iron and steel industry has a lot of risks and capital intensive.
The Director, Industrial Development Department, Federal Ministry of Trade and Investment, Mr Adewale Bakare explained that the stakeholders meeting is part of the Ministry’s effort to reposition the iron and steel sector
