An energy expert, Cletus Akpani, has stated that the investment of over $600 million in Nigeria’s steel sector by African Natural Resources and Mines Limited (ANRML) has significantly accelerated industrial development in the sector. In an interview with New Telegraph, Akpani highlighted that this investment has not only created numerous direct and indirect jobs but has also enhanced the economic value of the host communities.
Further commendation from the Minister of Steel Development, Prince Shuaibu Abubakar Audu, towards the iron ore mining and steel company demonstrates a strategic move to boost the confidence of ANRML in the country. Audu, along with the Indian High Commissioner to Nigeria, Shri G. Balasubramanian, visited the 900-hectare complex ANRML steel plant in Gugeni Village, Kagarko Local Government Area of Kaduna State. The minister expressed the Nigerian government’s appreciation for ANRML’s substantial investment, which has contributed significantly to the country’s economic development. He also acknowledged the company’s commitment to the Nigerian government’s backward integration policy and its significant job creation, employing over 4,000 individuals directly and indirectly.
Impressed by ANRML’s long-standing presence in Nigeria since 1971, Audu emphasized the company’s role in achieving President Ahmed Tinubu’s Renewed Hope Agenda, which aims to grow the economy to over $1 trillion by 2030. Audu further noted that the mining of iron ore, the raw material for steel production, conducted at ANRML’s facility is of vital importance, as steel has historically been a catalyst for industrialization in any nation.
Encouraging the company to further invest, Audu highlighted that Nigeria still imports approximately 10 million metric tonnes of steel worth $4 billion. He believes ANRML can play a significant role in reversing this trend by meeting local demand and exporting the excess production.