German firms storm Nigeria for steel investment

From Charity Nwakaudu, Abuja

German Original Equipment Manufacturers (OEMs) have opened fresh discussions with the Federal Government on investment in Nigeria’s steel industry, technology transfer and mineral processing.

The development came when the Minister of Steel Development, Prince Shuaibu Abubakar Audu, received a delegation of German OEMs, led by Dr Chux Onaa, Head of VDMA-German OEMs, in Abuja.

Audu said the visit marked a major step towards converting previous Nigeria-Germany engagements into concrete industrial partnerships and investments.

He recalled the 9th German-African Economic Forum in Dortmund, Germany, where both sides explored opportunities in steel production, mining, mineral processing, engineering, technology transfer and industrial investment.

The minister said the growing interest of German industries in Nigeria presented an opportunity to build sustainable partnerships capable of delivering tangible benefits to both countries.

According to him, Nigeria’s huge mineral and metallurgical resources, coupled with its large and growing market, provide enormous opportunities for industrial development.

He identified modern technology, equipment manufacturing and supply, mineral processing, steel production, engineering services, capacity building, technology transfer and local value-chain development as key areas of collaboration.

Audu also invited German OEMs to participate in ongoing and emerging projects in Nigeria’s steel and metallurgical sectors.

He expressed optimism that the engagement would lead to specific partnerships capable of strengthening Nigeria’s industrial base and creating jobs.

The Permanent Secretary of the ministry, Ambassador Nura Abba Rimi, said the engagement was in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda and the Federal Government’s efforts to revitalise the steel sector as a driver of industrialisation.

Earlier, Onaa said the delegation was in Nigeria to consolidate areas of collaboration and investment in the steel sector.

He said German OEMs had the technology to support raw-material processing for the cement and building materials industries.

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