Dr. Doris Uzoka-Anite, Minister of industrial, Trade, and Investment
Dr. Doris Uzoka-Anite, Minister of industrial, Trade, and Investment, has reaffirmed the federal government’s dedication to industrial revival, emphasizing steel as the foundation of both economic rebirth and infrastructure development. This concentration coincides with the African Natural Resources and Mines Limited (ANRML) in Kaduna state evaluating the $600 million Iron-Ore Mining & Processing Facility, a noteworthy development in Nigeria’s mining industry.
“Our Industry Revitalization Plan prioritizes steel due to its foundational role in building our nation’s infrastructure,” Dr. Uzoka-Anite stated. “One pressing issue within our industry is the spiralling cost of goods, especially burdensome for manufacturers. By scrutinizing production costs, we aim to facilitate more affordable manufacturing processes.”
An Infrastructure Development Fund, which Dr. Uzoka-Anite refers to as a “project de-risking fund,” has been approved by the Federal Executive Council. The fund will focus on important infrastructure sectors that are essential to Nigeria’s economy. This fund seeks to create more roads, railroads, and key infrastructure in addition to assisting with economic stimulation through the Industry Revitalization Plan. Both stakeholders and investors are expected to be pleased with increased production.
The Minister went on, “We owe President Bola Ahmed Tinubu gratitude for championing this initiative,” indicating the progressive stance of the administration.
Aligned with the statements made by Minister of Solid Minerals Development Dr. Dele Alake, Dr. Uzoka-Anite commended the ANRML plant for its significant foreign investment and dedication to iron ore beneficiation and value addition. She said that these initiatives are compliant with the federal government’s regulation requiring value-added plans for license approvals related to mining operations.
Dr. Uzoka-Anite emphasized how the ANRML enhances domestic steel production for the automotive manufacturing industry, in line with the Nigeria Automotive Industry Plan. She emphasized the importance of the Direct Reduced Iron (DRI) generated by the facility’s cutting-edge pelletization and beneficiation techniques, which have put Nigeria on the map as a major producer of crude steel.
In closing, the Minister drew a comparison between the nation’s economic restructuring initiatives and the achievements of ANRML, saying, “Our administration is channeling the same tenacity and strategic groundwork that propelled ANRML to success towards Nigeria’s transformation.” Our country is creating the framework for sustained development, much like the concrete foundations required for ANRML’s facility.”