This post has already been read at least 1182 times!

Nigeria’s Ministry of Steel Development in Abuja has held a crucial stakeholders engagement to discuss the Nigerian Metallurgical Industry Bill 2023, aimed at revitalizing the nation’s metallurgical sector and fostering sustainable development.

The gathering brought together key stakeholders from the academia, government institutions, private enterprises, and civil society dedicated to advancing Nigeria’s metallurgical capabilities.

The Minister of Steel Development, Prince Shaiubu Abubakar Audu in his keynote address emphasized the vital role of the metallurgical industry in national development.

“The Nigeria Metallurgical Industry Bill is a landmark piece of legislation designed to provide a robust legal and regulatory framework for the metallurgical sector. For too long, the absence of a comprehensive legal structure has hindered growth, efficiency, and global competitiveness in our industry. The Bill seeks to address these long-standing issues, ensuring that Nigeria’s metallurgical industry is not only viable but also a key contributor to our economic diversification efforts.”

According to him, once passed into law, the Bill will enhance the Ministry’s capacity to regulate the steel and metals industry by providing a well-defined legal framework that ensures operational standards, quality control, and industrial best practices, adding that the Bill will empower the Ministry with stronger enforcement mechanisms to curb illegal mining, scrap metal theft, and substandard imports.

He noted that the Bill will enhance investors confidence, attract both local and foreign investors as well as create a more transparent business environment.

Furthermore, Prince Audu disclosed that the Bill presents a significant opportunity to position Nigeria as a leading player in the global metallurgical value chain.

“By leveraging our vast mineral resources and industrial potential, we can drive economic diversification and job creation. However, we must also address key challenges such as enforcement mechanisms, infrastructural gaps, and industry security. The collective input of all stakeholders will be instrumental in refining the Bill to ensure effective implementation”.

The Honourable Minister stated that the stakeholders engagement is a testament to the collective commitment of all stakeholders in shaping the future of Nigeria’s metallurgical industry. “Your technical expertise, policy recommendations, and industry experience are invaluable in ensuring that we enact a law that will stand the test of time and drive sustainable growth in our sector”.

Prince Audu while encouraging all parties to continue contributing to the important dialogue, as it shapes the future of Nigeria’s metallurgical industry and its role in the global market, assured of the Ministry’s commitment to ensuring that the Nigerian Metallurgical Industry Bill 2023 reflects the collective aspirations of all stakeholders.

In his remarks, the Permanent Secretary Dr. Chris Osa Isokpunwu noting the importance of the stakeholders’ engagement on the Nigerian Metallurgical Industry Bill, 2023 to the future of the nation’s steel and metallurgical sector, stated that the Bill, when enacted, will serve as the primary legislation governing the steel sector. In that light, he said it is therefore, imperative that the Bill adequately reflects the current realities of the industry, including the new roles and mandates of the Ministry of Steel Development.

He urged all stakeholders to actively participate in the discussions, share insights, and contribute to shaping a law that will drive the growth and development of Nigeria’s metallurgical and steel sector, adding that the input of stakeholders’ will help ensure that the final law is comprehensive, forward-looking, and aligned with national and global best practices.

Speaking, the Chairman, Senate Committee on Steel, Distinguish Sen. Patrick Ndubueze, stated that there is need for the Bill to be introduced to the Senate in order for it to go through the normal reading and deliberations, get to the third and final readings before its eventual passage into law. He also emphasized the need to ensure that stakeholders making inputs should be those who have stakes in the steel and Metallurgical sector.

Delivering her speech earlier, the Chairman, House Committee on Steel, Hon. Zainab Gimba, stated that the establishment of the Ministry of Steel Development, following its separation from the former Ministry of Mines and Steel Development, has fundamentally transformed the regulatory landscape for the steel sector and necessitated a rigorous re-examination of the Nigerian Metallurgical Industry Bill, 2023, to ensure it accurately reflects the Ministry’s updated status, functions, and responsibilities, while also addressing the regulatory gaps that have emerged from the separation from the Ministry of Solid Minerals.

She revealed that the Bill which has passed the first reading is not merely a legislative document; but a strategic instrument poised to shape the future trajectory of the steel sector, adding that the stakeholders’ meeting will provide an unparalleled opportunity to harness collective expertise and insights.

According to her, the gathering and the subsequent technical session, will probe deeply into essential amendments and collaboratively develop a comprehensive memorandum for the National Assembly.

Hon. Gimba highlighted some key focus areas of the Bill to be: General Administration; Control Measures at Metallurgical Plants; Issuance and Revocation of Operating Licenses; Employees’ Duties and Promotion of Indigenous Industries; Offences and Penalties among others.

She called upon all stakeholders to integrate their diverse expertise to pioneer a regulatory framework that will promote growth, advance technological capabilities, and set a global standard for sustainable steel production as well as ensure a legislation that paves the way for a vibrant, future-ready steel sector that fortifies Nigeria’s economic progress and environmental stewardship.

Also the Chairman, National Steel Council, Prof. Abdulkarim Abubakar Kana, while noting that the nation’s steel sector required an emergency approach, stated that it was high time to take a final stand to find solutions to the challenges facing the sector by having a bill that encapsulates every aspect of steel.

StreetReporters.ng

This post has already been read at least 1182 times!