FG tasked on investment in cottage metallurgical industries

The Nigerian Metallurgical Society (NMS) has tasked the federal government to invest in small and medium cottage metallurgical industries to address the increasing unemployment in the country. The Society in a communique at the end of its Annual General Meeting stated that there is the need for enabling environment and provisions of facilities to […]

The Nigerian Metallurgical Society (NMS) has tasked the federal government to invest in small and medium cottage metallurgical industries to address the increasing unemployment in the country.

The Society in a communique at the end of its Annual General Meeting stated that there is the need for enabling environment and provisions of facilities to attract investments and research metallurgical industries.

The communique which was signed by the president of the NMS, Engr. Prof. Oyihi. Oloche, said if Nigeria focuses on the production of steel, aluminum and lithium, manganese, nickel, graphite, cobalt, among others, the challenge of unemployment would be solved,

Prof Oyihi added that with Small and Medium Scale enterprises accounting for 50 percent and 90 percent of total employees in the metal sector of the economy in various countries, investing in the sector would aid the economic diversification drive of the government to generate more revenue.

While commending President Bola Ahmed Tinubu, for creating the Ministry of Steel Development, he said the revitalization of Ajaokuta Steel Company and other metal industries should be a priority.

“The role of the iron and steel industry in the drive for national industrialization and economic growth is vital and strategic, we will encourage the government as a matter of urgency, develop the metallurgical policy and the enabling environment to operationalize the metal sector.”

“We want the government to pursue a policy aimed at production of materials critical to proffering solutions for unemployment through a determined implementable and sustainable policy and plan of action for the development of indigenous technology. Reliable and sustainable materials are fundamental to every country that needs to improve the social well-being of its citizens, therefore integrating all exploitable metals is a viable way of achieving stability in security, energy and reducing unemployment”. he added.