FG Highlights Vast Iron Ore Reserve for Steel Production
Nigeria says its vast iron ore reserves can support steel production and strengthen long-term industrial development.
The Federal Government says Nigeria has about three billion tonnes of iron ore available to support future steel production at the Ajaokuta Steel Complex in Kogi State. Officials describe the reserve as the result of years of exploration and a major milestone for the country’s steel industry.
Speaking in Kaduna, Kolawole Michael, Director-General of the National Steel Raw Materials Exploration Agency (NSRMEA), said the Itakpe iron ore stands out for both its quality and quantity. According to him, iron ore accounts for about 95 per cent of the raw materials required for steel production, while limestone and coal make up the remaining five per cent.
He explained that the government established NSRMEA to identify the quality and quantity of raw materials needed to develop Nigeria’s steel sector. As part of that effort, extensive aeromagnetic surveys were carried out to locate deposits of iron ore and other key minerals, helping authorities determine suitable locations for steel plants.
Kolawole added that the Federal Government worked closely with the Russian government during the exploration process. The partnership, alongside Nigerian geologists, led to the discovery of the Itakpe deposit and the establishment of the National Iron Ore Mining Company (NIOMCO). He described Itakpe iron ore as the foundation of Nigeria’s steel industry because of its low level of impurities and high-quality reserves.
The NSRMEA chief also noted that limestone is currently licensed to cement manufacturers because full operations at the Ajaokuta Steel Complex have yet to begin. He said the agency is ready to supply the raw materials needed once steel production starts and added that Minister of Steel Development Shuaibu Abubakar Audu is engaging international partners to move the sector forward. He also called for greater collaboration, technology-driven investment and increased foreign direct investment to help build a globally competitive steel production industry.
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