By Emma Ekondo
President Goodluck Jonathan says the administration is committed to self-sufficiency in local steel production to help open up the downstream sector and empower local content utilization. It was while commissioning the WEMPCO Steel Mill Plant at Magboro, Ogun State, reputed to be the single largest private sector investment in the industry. President Jonathan described the facility as a demonstration of the company’s faith in the Nigerian economy. Noting that the venture by a Chinese company reinforces steel as the most important material for domestic and industrial use. While stressing Government determination to support the private sector, he urged them to demonstrate accountability and transparency in their operations.
President Jonathan also cleared the on misconceptions in certain quarters on financing of infrastructure projects by the FG, local or state Governments within their domains. Ogun State Governor who has hosted President Jonathan many a time on industrial projects commissioning again recommitted to partnering with the Federal Government to make the state conducive to investment.
GMD of WEMPCO Group, Lewis Tuneg explained that they will be producing 100,000 metric tonnes of steel ??? per annum of their entry in Nigerian in 1959.