The Federal Government of Nigeria has promised to fix an old steel factory in Ovwian–Aladja, Delta State. This factory is now called Premium Steel and Mines Limited, but it used to be known as Delta Steel Company. The goal is to bring it back to life and help Nigeria’s economy grow.
What is Steel and Why is It Important? Steel is a strong metal used to build things like cars, bridges, houses, and machines. Countries with strong steel industries usually have better factories and jobs. Nigeria wants to stop buying too much steel from other countries and start making more steel here.
What the Government is Doing? The Minister of Steel Development, Prince Abubakar Audu, visited the factory and said that the government wants to restart it, no matter who owns it. He said the factory has the right location and tools to make it work again. It is close to a sea port and railway lines, which makes it easier to move materials.
What the Factory Can Do Right now, the factory isn’t working. But when it’s fully working again, it can make up to one million tonnes of liquid steel every year. It can also create more than 5,000 direct jobs and 10,000 indirect jobs for Nigerians. The Minister said it should be working again in the next 18 months.
President’s Big Goal The President wants Nigeria to make more money and grow its economy. He hopes that fixing this steel factory will help reach a goal of growing Nigeria’s income (called Gross Domestic Product or GDP) to 1 trillion US dollars.
Company Partnership The boss of the steel company, Mr. Sahil Vasweni, told the Minister that they are working with a big international steel company to help fix the factory. But he also said they are facing problems like getting enough raw materials, especially iron ore.
A Look Back in Time This factory started in 1977 when the Nigerian government teamed up with German and Austrian companies. It officially opened in 1982. Sadly, it stopped working properly in 1997. It was later sold to a private company in 2005, and again in 2015 to the current owners, Premium Steel and Mines Limited.
The Bigger Picture The Minister also said the government is working on other steel companies across Nigeria, including those in Ajaokuta, Itakpe, Ikot-Abasi, Oshogbo, Katsina, and Jos.
In simple words, Nigeria wants to become strong in making steel again, and fixing the Delta steel factory is one big step to get there.
