PROF ASUQUO WOOS GOVERNMENT AT ALL LEVELS TO PRIORITIZE INVESTMENT IN MINERALS AND STEEL SECTOR FOR RAPID ECONOMIC DEVELOPMENT.

PROF ASUQUO WOOS  GOVERNMENT AT ALL LEVELS TO PRIORITIZE  INVESTMENT IN MINERALS AND STEEL SECTOR FOR RAPID ECONOMIC DEVELOPMENT.

The need to harness ,the potential of investing in Mineral and Metal Development in Nigeria has been trumpeted,

 

This mantra was re- echoed by the Director General/ Chief Executive,National Metallurgical Development Centre, Jos Engr Prof Linus Asuquo  during his interaction with the Media in Jos recently.

The DG/CE said that for Nigeria to come out of the present economic Quagmire, there is need for government at all levels to channel their investments to Mineral and Steel Sector innovation.

According to him , the era of oil is fast ending and the earlier government look  inward and explore the

 natural wealth nature has bestowed on Nigeria through Minerals and Steel.

Prof Asuquo stated that for over forty-four Minerals identified so far in Nigeria, less than ten percent of these Minerals have been explored and Utilized, hence the need  to prioritize inclusive investment in this sector for rapid industrialization of the country.

Asuquo explained that there is need for governments to take proactive measure to prepare for the economic shock that might occur in near future as a result of crude oil extinction. He categorically said that the only sectors that will serve as shock absorber in such circumstances are Mines and Steel as well as Agriculture.

The NMDC Helmsman, called on government and individual investors to utilize the enormous opportunities in Mining Steel Sector which according to him is more profitable than oil sector.

The DG/CE said that NMDC which has its core mandate to add value to Minerals and Metals through Research and Development, is poised to be a Global  Centre of Excellence in Minerals and Metals Sector Innovation.

Prof Asuquo stated that for Mines and Steel Sector to lead the economy of Nigeria, the role of Research and Development can not be over emphasized. He informed the Media that with the Research activities carried out by NMDC which include:

 Primary raw materials value addition and technological

 development for iron and steel production using wholly local raw materials, Provision of corrosion protection options for various environments in  Nigeria by simulation,

 Analytical services/forensic Metallurgy,

 Geology, Mineralogy and Minerals beneficiation, Refractories

 Development for Iron and steel, Cement production etc,

 Welding and Fabrication, Maintenance Services.

The Director General decried  the poor funding of Research and Development in the country which is the bed rock of industrialization thereby reducing unemployment and increasing the GDP of the Country.

' I assure you with the facilities and manpower on ground in NMDC, if the  government prioritize R and D, the Centre alone can make significant impart on the economy'

Asuquo said that no nation has ever developed without the steel sector or with little or no attention to Research and Development.

Sunny Eweama,

Head( Press and Public Relation)

NMDC, Jos.