A Review of the Nigerian Energy Industry

‎Gas Masterplan: Buhari commissions $150m steel mill

*Secretary to the Government of the Federation, SGF, Babachir‎ David Lawal.
*Secretary to the Government of the Federation, SGF, Babachir‎ David Lawal.

Oscarline Onwuemenyi

23 October 2015, Sweetcrude, Abuja – President Muhammadu Buhari on Thursday commissioned a new ultra-modern steel mill worth $150 million in what he said was an effort to boost access and affordability of gas in the Federal government’s Gas Masterplan project.

The President, who was represented by the Secretary to the Government of the Federation, SGF, Babachir‎ Lawal, noted that the steel mill established by Setraco Construction Company, SCC, was a great milestone in a collective effort to promote and increase local content in the oil and gas sector.

According to him, “We always believed that it is only companies that have total faith in the capacity of an economy to grow and excel in mutual prosperity that will embark on such major investment like iron, pipes, steel, even in a situation of inadequate raw materials ‎and energy supply as it is in this country.”

He stated that the steel mill would also fast-track effort at transferring technology and technical capacity to Nigerian engineers and artisans as well as conserve the much needed foreign exchange.

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