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Stakeholders Urges FG To Indigenize Iron And Steel Industries

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5 years ago

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Indigenous stakeholders in the iron and steel sector in Nigeria have appealed to the federal government to indigenize iron and steel industries whereby government holds only marginal interest and the indigenous investors get major interests.

Speaking during meeting of stakeholders in iron and steel sector in Ilorin on Thursday, the chairman, Basic metal, fabricated iron and steel products, Dr. Kamoru Yusuf, said that future of iron and steel business in Nigeria will heavily be dictated by the policy thrust of the government which, he said, must be tailored towards rendering necessary support and ease of doing business to investors in the sector.

FG pledges to provide enabling environment to Gum Arabic farmers

The meeting, organized to deliberate on status of the industry and propose strategies for the development of the sector, was attended by relevant government ministries, departments and agencies (MDAs) as well as local and foreign chief executives of iron and steel companies.

The stakeholders, who said it is the position of the general public that Ajaokuta steel plant should work again in the hands of local investors, added that, Nigeria needs to pride herself as the giant of Africa by making judicious use of her highly talented, patriotic and committed indigenous investors with adequate recognition of the stakes of the government.

“Without mincing words, the assets should not be handed over to foreign investor(s), rather, it should be managed 100 per cent by a competent indigenous investor who had demonstrated capability with evidence of success stories
on existing steel plants and wire processing factories. With this, government can and may own 40%, while the investor will own 60%. This will no doubt, enhance easy, sustainable, and rewarding business fortunes for the nation. Every phase and processes of the investment must be given cognizance attention and priority”, he said.

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Dr. Yusuf also said that the nation is assured that the capital and proceeds would remain here and will be re-invested into our economy, if indigenous steel investors are given the chance to resuscitate Ajaokuta.

He said that FG should take a cue from its developed counterparts by allowing Credit Insurance Underwriters to operate in Nigeria, adding that investment in the iron and steel business is capital-intensive with huge risks.

“We believe that with policy shift, some benefits will accrue;
This would complement the Backward-Integration Policy of the
Government, which seeks to preserve our scarce foreign exchange and create employment for millions of Nigerians directly and indirectly.

“There will be more liquidity in the Nigerian economy and Nigeria would have the opportunity of competing with her peers in
the continent and across the globe.

“It will minimise brain drain to foreign countries in the name of
search for greener pasture, especially among our teeming youths.

“Nigeria would be able to participate successfully in the African Continental Free Trade Area (AfCFTA) and compete favourably
among countries in the continent.
Ajaokuta will come with good opportunity of reinvigorating the
automobile sector of the economy after a successful installation and
commissioning of ultramodern machineries.

Also speaking, the director, Industrial Development Department, federal ministry of Industry, Trade and Investment, Adewale Bakare, said that the stakeholders’ meeting was necessitated by the ongoing effort of the ministry at repositioning the iron and steel sector through development of workable policies and strategies for the growth and development of the sector.

“Our developmental history shows that Nigeria started its nation’s building with a strong iron and steel sector including the establishment of the Ajaokuta steel complex which was a beacon of hope in the early days. However, present realities shows that the iron and steel industry has not achieved the desired development as the various sub-sectors under the iron and steel industry have remained at the levels of infancy or non-existent, living the country to depend largely on importation of iron and steel products”, he said.

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ADC Rising: Salga hails influx of political heavyweights as a turning point for justice

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3 hours ago

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April 1, 2026

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Ambassador Abdulrahman Mai Nasara Salga, a prominent ADC leader from Dala, Kano, has welcomed the influx of influential politicians into the party, describing it as a sign of ADC’s growing acceptance.

Salga, who contested for the federal legislature in Dala during the 2023 general election, says the party’s progress is heartening, having worked tirelessly to promote ADC’s agenda and position it as a viable alternative for good governance.

He highlights the entry of Kwankwasiyya leader Dr. Rabiu Musa Kwankwaso, former Kano State Deputy Governor Comrade Aminu Abdulsalam, and APC’s 2025 gubernatorial candidate Dr. Nasir Yusuf Gawuna, among others, as major boosts that are transforming ADC into a formidable opposition force.

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Salga believes these developments signal a shift towards justice and better leadership in Kano and Nigeria. He urges party leaders, including Atiku Abubakar, Peter Obi, and Kwankwaso, to unite for success in 2027.

The ADC leader pledges continued efforts to promote the party’s ideals, expressing optimism for a brighter future with these influential additions.

 

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BREAKING: INEC Removes David Mark-Led NWC from Portal, Updates Records Amid ADC Leadership Crisis

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5 hours ago

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April 1, 2026

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By Yusuf Danjuma Yunusa

The Independent National Electoral Commission (INEC) has formally updated its official portal to reflect changes in the leadership of the African Democratic Congress (ADC), signaling the commission’s recognition of the leadership dispute within the party.

The commission confirmed that the removal of the National Working Committee (NWC) led by David Mark followed a detailed review of a recent Court of Appeal judgment and an ongoing suit at the Federal High Court in Abuja.

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According to INEC, the decision comes after receiving conflicting legal representations from the two factions vying for control of the party. One faction, loyal to Nafiu Bala Gombe, urged the commission to enforce the appellate court’s ruling, which includes withdrawing recognition from the Mark-led NWC. The other faction, aligned with Mr. Mark, advised INEC against recognizing Mr. Gombe as acting national chairman, citing the pending legal proceedings.

The leadership crisis traces back to July 2025, when the ADC’s former leadership resigned, paving the way for a new executive committee headed by Mr. Mark. Mr. Gombe, a former vice-national chairman, has challenged this transition, arguing that the party’s constitution mandates his ascension to the leadership role.

In a ruling delivered on March 12, 2026, the Court of Appeal dismissed an interlocutory appeal filed by Mr. Mark. The court ordered all parties to maintain the status quo ante bellum—the state of affairs before the crisis—pending the resolution of the substantive suit at the Federal High Court.

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JUST IN: El-Rufai Detained as Bail Ruling Adjourned to April 14

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11 hours ago

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April 1, 2026

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By Yusuf Danjuma Yunusa

Operatives of the Department of State Services on Wednesday took former Kaduna State governor, Nasir El-Rufai, into custody moments after proceedings at the Federal High Court in Kaduna.

El-Rufai, standing trial over alleged corruption, had just concluded a hearing on his bail application filed by the Independent Corrupt Practices and Other Related Offences Commission when DSS operatives bundled him into a waiting vehicle and drove him away, reportedly heading to Abuja.

A heavy DSS presence around the court before the hearing had fuelled speculation that the former governor might be taken into custody.

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Security sources said vehicles had been strategically positioned around the court prior to proceedings.

El-Rufai had arrived at the court at about 9:05 a.m. in a Hilux van, drawing attention from security personnel and observers.

Speaking to journalists after the proceedings, lead defence counsel, Oluwole Iyamu (SAN), confirmed that the court had fixed April 14 for ruling on the bail application.

“The bail application was argued and responded to, and the ruling has been fixed for April 14.

“We look forward to that day. We are hopeful. We have put our arguments before the court, and this is a court of justice.

“We await the decision of the court,” he added.

He also noted that the defence team is prepared for a related case scheduled for April 10 at the Federal High Court in Abuja, describing it as “a separate matter.”

“That is a separate matter. As lawyers, we are ready. We have filed all necessary processes and will be in court. That is the DSS matter,” he said.

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