NEF seeks resuscitation of Ajaokuta Steel, others

The Nigeria Entrepreneurs Forum (NEF) has called for the resuscitation of Ajaokuta Steel Complex and Ikot Abasi Aluminum Smelting Plant. The president of NEF, Dr Sidney Igbinedion, made the call in a paper he presented during the national roundtable on the actualization of the objectives of the real sector in the medium term national development […]

The Nigeria Entrepreneurs Forum (NEF) has called for the resuscitation of Ajaokuta Steel Complex and Ikot Abasi Aluminum Smelting Plant.

The president of NEF, Dr Sidney Igbinedion, made the call in a paper he presented during the national roundtable on the actualization of the objectives of the real sector in the medium term national development plan leveraging the organized private sector held in Abuja.

Dr Igbinedion said the resuscitation of the two important companies would act as catalyst for reviving moribund steel industries such as Delta Steel Company, Oshogbo Rolling Mills, Jos Rolling Mills, Katsina Rolling Mills, National Iron Ore Mining Company, Itakpe and the Metallurgical Institute, Onitsha.

He stated that the move would also have multiple effects of triggering the economy to embark on welding and fabrication of smaller engines for agricultural processing, housing, defense and armament production, transportation, construction and exporting.

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He also said it will strengthen the role of the private sector as partners in national development through proper utilization of their organized private sector institutions which will go a long way in repositioning the nation’s economy and improve Foreign Direct Investment, increase foreign earnings and enhance the country’s gross domestic products.

The NEF president stressed the need for Nigeria to continue to invest in human capital development to improve labour productivity in all sectors against the backdrop of the world contracting into a global village through technology and  innovation.

“Most importantly, there is the need to develop and implement programmes that raise workers skills in order to increase productivity, knowledge, and acceptable skills,” the NEF president emphasised.

He also called for the review of the nation’s educational curricula to adapt to changing technology trends and make Nigerian youth marketable in the global marketplace.

“Since the government is trusting the private sector to assume reign over the economy and its development plans, the private sector should also be assisted to assume its expected responsibilities and the creation of an enabling environment as higher private sector productivity will require strong political will to provide security, infrastructure, good governance, institutional support and inclusion,” he added.