FG Proceed to Rejuvenate Iron, Steel Sub-Sector

The Minister of Industry, Trade and Investment, Mr. Olusegun Aganga, said Federal Government has completed plans to develop and implement an all-inclusive Backward Integration Policy (BIP) for the iron and steel sun-sector of the Nigeria economy. He said this at a one-day stakeholders’ forum themed: ‘Transformation of minerals, iron and steel sub-sector for industrial revolution in Nigeria’ in Lagos, noted the move was in line with the Nigeria Industrial Revolution Plan.

The forum, which was organised by the ministries of Industry, Trade and Investment, and Mines and Steel Development, offered a platform for all players in the iron and steel sub-sector to mode out workable and sustainable plans of action to leverage Backward Integration Policy (BIP) to support the development of critical industries across the country.

The minister further said that the success accomplished with the BIP in the cement industry confirmed that such could be replicated in at least 15 sectors of the economy.