• About Us
  • Contact Us
  • Privacy & Policy
Monday, June 2, 2025
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
Advertisement
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
  • National
  • Politics
  • Economy
  • Entertainment
  • Sports
  • Editorial
  • Opinion
  • Columns
No Result
View All Result
Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history
No Result
View All Result

Dangote to Start Steel Production in Nigeria to Meet West Africa Demand

Vincent Amadi by Vincent Amadi
June 14, 2024
in Economy, News
Reading Time: 2 mins read
A A
0
Battle for Industrialization: Aliko Dangote Fights Sabotage to Secure Africa’s Future
Share on FacebookShare on TwitterShare on WhatsappShare on EmailShare on Telegram


At the Afreximbank Africa-Caribbean Trade and Investment Forum in Nassau, Bahamas, Alhaji Aliko Dangote, the richest man in Africa, revealed his ambitious vision of ensuring that all steel used in West Africa is produced in Nigeria. With plans to venture into steel production in the near future, the billionaire pledged that his next project after the steel mill project would be steel manufacturing.
Furthermore, he implored African leaders to prioritize the development of agriculture and solid minerals, bemoaning the devastating impact of food imports on the continent, which have led to an alarming rise in unemployment and poverty.

Dangote


He said, “What we need to do that is missing is actually to concentrate and pay more attention to agriculture and solid minerals. I don’t like people coming to take our solid minerals to process and bring the finished product. We should try and industrialize our continent and take it to the next level.”
“I told somebody we are not going to take any break. What we are trying to do is to make sure at least in West Africa, we want to make sure that every single steel that we use will come from Nigeria”
The Osogbo Rolling Mill and Jos Corporation have tried to take a leading role in the steel manufacturing industry through government and even private hands but have failed.


As with the refinery, the federal government has spent billions of dollars to get local steel mills up and running under various administrations but to no avail. President Bola Tinubu’s government had promised during his election campaign to ensure the start of steel production at the multi-billion dollar Ajaokuta Steel Complex.
The Federal Government has budgeted about 4.45 billion naira for the plant in its proposed 2024 budget but hopes to raise about 35 billion naira from private investors for the plant’s first-ever commissioning.
However, Minister of Steel Development Shuaib Audu also said that the rehabilitation of the plant could cost between $2 billion and $5 billion. Potential of the Nigerian Steel Industry According to the National Steel Raw Materials Exploration Agency (NSRMEA), the country’s average steel consumption is about 10 million tonnes, of which 70% is imported.
The current Minister of Steel Development had previously said that Nigeria spends about $4 billion annually on steel imports, despite having about 74 steel mills and steel plants across the country.
Nigeria has large deposits of iron ore, a key raw material for steel production, in Kogi State.

Tags: businessDangotenigeria
Vincent Amadi

Vincent Amadi

Related Posts

Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

1 day ago
EFCC arrests ex-government contractor over alleged N30 billion fraud
National

Ex-PDP chairman’s son jailed 14 years for N2.2 billion subsidy scam

6 days ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

6 days ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide

2 weeks ago

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

NATIONS NEWS

Wike to Amaechi: Stop lying, you are hungry for power, not food
National

Wike to Amaechi: Stop lying, you are hungry for power, not food

5 hours ago
Insecurity: Army kill three suspected bandits in Plateau
National

Insecurity: Army kill three suspected bandits in Plateau

12 hours ago
Boko Haram attacks: Borno community demands relocation of Army barracks
National

Boko Haram attacks: Borno community demands relocation of Army barracks

12 hours ago
Barcelona’s Raphinha Wins the Champions League Golden Boot
National

Barcelona’s Raphinha Wins the Champions League Golden Boot

13 hours ago
Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender
National

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

13 hours ago
20 Kano athletes die in gastly accident after Sports Festival
National

20 Kano athletes die in gastly accident after Sports Festival

1 day ago

POLITICS

More defections: Rep dumps PDP for APC, urges support for Gov Otu, Tinubu

More defections: Rep dumps PDP for APC, urges support for Gov Otu, Tinubu

3 days ago
PDP Crisis: BoT urges forgiveness, dialogue and unity

PDP Crisis: BoT urges forgiveness, dialogue and unity

6 days ago
Tinubu receiving performance based endorsement – Top APC Chieftain

Tinubu receiving performance based endorsement – Top APC Chieftain

6 days ago
​​Coalition Saga: Atiku Ignores Adeleke In Osun, Draws Battle Line With PDP Govs. 

​​Coalition Saga: Atiku Ignores Adeleke In Osun, Draws Battle Line With PDP Govs. 

6 days ago
Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

6 days ago

2027: Atiku, PDP Mocks Tinubu’s Endorsements, Describes It As Fake

1 week ago

YOUR ECONOMY

Development bank disbursed N1 trillion to MSMEs – MD
Economy

Development bank disbursed N1 trillion to MSMEs – MD

1 day ago
Becoming AfDB president greatest honour of my life – Adesina
Economy

Becoming AfDB president greatest honour of my life – Adesina

6 days ago
Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide
Economy

Dangote Refinery Drops Pump Prices Again with a Price Range between 875 and ₦905 Nationwide

2 weeks ago
Fidelity Bankruptcy Scare: Banking sector is stable, says CBN
Economy

Fidelity Bankruptcy Scare: Banking sector is stable, says CBN

2 weeks ago
Nigeria committed to deepening trade with U.S, says Envoy
Economy

Nigeria committed to deepening trade with U.S, says Envoy

2 weeks ago
Naira ends week on positive note against dollar
Economy

Naira ends week on positive note against dollar

2 weeks ago

E & P

Barcelona’s Raphinha Wins the Champions League Golden Boot
National

Barcelona’s Raphinha Wins the Champions League Golden Boot

by Steven Atogi
13 hours ago
0

The Brazilian and Barcelona forward had a great run in the 2024/2025 football season, with impressive performance and statistics across competitions....

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

Is Achraf Hakimi Best African Player of the Year? Osimhen Proves a Contender

13 hours ago
Ousmane Dembélé vs Lamine Yamal, who takes the Ballon d’Or?

Ousmane Dembélé vs Lamine Yamal, who takes the Ballon d’Or?

13 hours ago
Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

Gov Adeleke’s defection rumours to APC gain traction as David visits Tinubu

6 days ago
Dramatic Ending In Premier league Last Fixture As Man City, Chelsea, Newcastle Secure Champions League Slot. Deal.

Dramatic Ending In Premier league Last Fixture As Man City, Chelsea, Newcastle Secure Champions League Slot. Deal.

1 week ago

Awoniyi speaks after life threatening surgery, admits current season the most difficult 

2 weeks ago

YOUR THOUGHT & HISTORY

ON THE PUBLIC NUISANCE CALLED SOWORE
Opinion

ON THE PUBLIC NUISANCE CALLED SOWORE

by Kiikpoye Karibo
3 months ago
Data Visualizations
Columns

Five Key Considerations for Creating Effective Data Visualizations

by Blessing Chinyere Daniel
5 months ago
The Transformative Power of AI in Revolutionizing Industries and Empowering Growth
Columns

The Transformative Power of AI in Revolutionizing Industries and Empowering Growth

by Blessing Chinyere Daniel
6 months ago
Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit
Columns

Navigating the Turbulent Terrain of Entrepreneurship: The Power of Tenacity, Growth Mind-set, and Grit

by Uloma Harrison-Ikenwanze
6 months ago
The Power of Data in Today’s World
Columns

The Power of Data in Today’s World

by Blessing Chinyere Daniel
6 months ago

Who we are

Umpirenews | Latest News, Politics, Breaking News, Nigeria and African history

Welcome to Umpire News, your go-to online newspaper dedicated to broadening perspectives and expanding the horizons of our numerous readers. Read more

Browse by Category

  • Columns
  • Economy
  • Editorial
  • Entertainment
  • International
  • National
  • News
  • Opinion
  • Politics
  • Sports

Recent News

Wike to Amaechi: Stop lying, you are hungry for power, not food

Wike to Amaechi: Stop lying, you are hungry for power, not food

June 2, 2025
Ukraine’s drone strike hits Russian airbase targets

Ukraine’s drone strike hits Russian airbase targets

June 2, 2025
  • About Us
  • Contact Us
  • Privacy & Policy

© 2024 Copyright Umpirenews. All rights reserved

No Result
View All Result
  • Home
  • National
  • Economy
  • Politics
  • Sports
  • Entertainment
  • Editorial
  • Opinion
  • Columns

© 2024 Copyright Umpirenews. All rights reserved

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
🤑Join & Get Our Easter Gifts 🤑

Enter your NAME & Email NOW!!

Be among the 1st 100 lucky WINNERS to win our Amazing GIFTs this Easter Period as you READ our Daily hot NEWs & make meaningful comments and follow us on our social media handles.

Name
Enter your email address