By: Goodluck E. Adubazi, Abuja.

The Nigerian Metallurgical Society (NMS) has reaffirmed that the Ajaokuta Steel Plant and the National Iron Ore Mining Company (NIOMCO), Itakpe, remain central to Nigeria’s industrialization agenda, calling for urgent modernization and strategic reforms to unlock their full potential.

In a communiqué issued at the 40th Annual Conference and General Meeting of the Society held in Abuja, under the theme “Unlocking Nigeria’s Mineral Resources: Exploration, Extraction, and Value Addition,” NMS President, Engr. Dr. F. M. Achiv (FNMS), stated that Nigeria is abundantly endowed with mineral resources but continues to underperform in the sector due to weak policy coordination, insecurity, and poor infrastructure.

The conference, which brought together researchers, industrialists, policymakers, and other stakeholders in the mining and metallurgical sectors, identified credible investment, public-private partnerships (PPPs), and innovation-driven approaches as critical to revitalizing Ajaokuta Steel and repositioning the metallurgical industry for global competitiveness.

Participants expressed concern that despite Nigeria’s vast mineral wealth, its contribution to the nation’s Gross Domestic Product (GDP) remains suboptimal. They urged the Federal Government to adopt a national mineral value addition policy to promote local beneficiation, processing, and manufacturing — measures that would reduce raw material exports and boost industrial growth.

The Society also called for stronger security in mining regions, harmonized policies, investment de-risking, and greater private sector participation to drive sustainable development.

“The metallurgical and solid minerals sectors must be repositioned to drive economic diversification, job creation, and technological advancement, in line with the Federal Government’s Renewed Hope Agenda,” Dr. Achiv stated.

He reaffirmed NMS’s commitment to supporting the government in implementing these recommendations, emphasizing the need for synergy among stakeholders to fully unlock Nigeria’s mineral resources through responsible mining, local content development, and environmental sustainability.