Steel Sector Sees $500m FDI Boost Following Reforms, Says Minister   About $500m in foreign direct investment (FDI) has flowed into Nigeria’s steel sector over the past 20 months, the Minister of Steel Development, Prince Abubakar Audu, has revealed. Audu disclosed this on Thursday in Abuja while...

FG Commits to Insurance Coverage, Unveils Overhauling Strategy for Nigeria's Steel Sector Revival   The Federal Government through the newly created Ministry of Steel Development has taken significant steps towards rejuvenating the nation's steel sector by announcing a comprehensive insurance coverage for all ongoing steel projects...

Fed Govt Pays Foreign Firm $496m For Contract Violation   The Attorney-General of the Federation and Minister of Justice, Abubakar Malami has disclosed that the Federal Government has settled a long-standing $5.26bn contractual dispute with a foreign investor group in the steel sector for $496m. A statement...

Steel Sector May Not Resume Production Until 2021 – MAN       Activities within the nation’s steel sector will remain paralysed for the time being as the industry is still smarting from the rippled effects of the ravaging coronavirus which has continue to take its toll on...

High Tariff On Raw Materials Limits Steel Sector   The disparity in tariff between raw materials and finished steel products has brought the local steel manufacturing sector to its knees. Currently, business is very challenging for local manufacturers in the steel value chain as they are unable...