Nigeria spends about $3.3bn every year on the importation of metals, the Minister of Mines and Steel Development, Olamilekan Adegbite, stated on Monday.
He stated this in his remark at the takeover ceremony of assets of steel plants of Standard Metallurgical Company Limited in Ogun State by KAM Steel Integrated Company Limited. KAM Steel, a subsidiary of KAM Holding, acquired SMC at N60bn.
Adegbite, who was represented at the ceremony by his Senior Special Assistant, Technical, Olu Adedayo, said despite the fast growth of Nigeria’s economy, the country was not producing liquid steel…
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