The National Assembly (NASS), through its Joint Committee on Steel Development, has directed an upward review of the 2025 budget for the Ministry of Steel Development....CLICK HERE TO READ THE FULL ARTICLE➤
The Chairman of the Committee, Patrick Ndubueze (APC-Imo North), declared this after the minister, Shuaibu Audu, presented the ministry’s 2025 budget estimate before it.
Mr Audu, in his presentation, sought an increase in the ministry’s budgetary allocation to enable it to perform optimally after it was given a 2025 budgetary allocation of N24 billion, as against its initial request of N315 billion.
This was disclosed by the ministry’s head of information and public relations, Salamatu Jibaniya, on Thursday in Abuja.
Ms Jibaniya said the ministry was before the committee to seek its collaboration for additional proposed intervention.
She said the joint committee granted the ministry’s request for an increase due to the critical role of the steel sector in the growth and diversification of Nigeria’s economy, as well as issues of scrap metal in Nigeria.
She said the chairman called for the establishment of scrap collection centres across the country’s six geopolitical zones to safeguard public infrastructure and boost steel production.
The ministry’s spokesperson said following the adoption of the budget, the co-chairman, Zainab Gimba, representing the Bama/Ngala/Kala Balge federal constituency, moved a motion for a meeting between the joint committee, the ministry, and the minister of budget and economic planning.
In his earlier presentation, Mr Audu stated that the ministry’s main targets for 2025 were to attract foreign direct investments, boost government revenue, and increase foreign exchange earnings from the steel sector.
He added that the target also included revitalising the entire steel sector and completing the revival of the Ajaokuta Steel Complex and the National Iron Ore Mining Company in Itakpe. ...CLICK HERE TO READ THE FULL ARTICLE➤