Steel Dealers Hail FG’s Prompt Response to Price Crisis

The National Association of Scrap and Waste Dealers Employers of Nigeria (NASWDEN) has commended President Bola Tinubu, the Minister of Steel Development, Prince Shuaibu Abubakar Audu, and the Executive Secretary of the National Steel Council for their prompt intervention in the buying and selling of iron and steel from its members by steel companies in the country.

The President of NASWDEN, Pst. Engr. Ogbu Luke Uchechikwu, gave the commendation after a meeting with the National Steel Council in Abuja.

Pst. Engr. Ogbu Luke Uchechikwu was particularly pleased that the government had responded to the concerns raised by members of the association, with a commitment to call all steel companies to fix a permanent price for the purchase of iron and steel, thereby enabling their purchasing rates to increase for better business operations.
According to him, NASWDEN, under his leadership, has already directed its members to continue with their normal business activities and ignore the unpatriotic actions of those who have already been expelled by the association through a court of competent jurisdiction and are allegedly trying to cause confusion.

“Let me specially appreciate the Executive Secretary of National Steel Council for bringing this our issue to the attention of the Federal Government for neccessay intervention and solution and NASWDEN under my leadership do not take his efforts for granted,” he stated.

Pst. Engr. Ogbu Luke Uchechikwu therefore pledged NASWDEN’s continued support for President Bola Tinubu’s-led administration towards actualising his Renewed Hope Agenda in the area of national economic development.

Meanwhile, the Minister of Steel Development, Prince Shuaibu Abubakar Audu, had earlier called on NASWDEN to suspend its ongoing industrial action and return to the negotiation table.

The Minister made the call in Abuja in the interest of industrial harmony and the stability of Nigeria’s steel sector.

Prince Audu acknowledged the concerns raised by NASWDEN and said the issues were formally presented to the Ministry through the National Steel Council.

The Minister said the concerns were being given serious attention, with the Ministry working with the National Steel Council to find practical and lasting solutions.

He therefore directed the Permanent Secretary, in collaboration with the Executive Secretary of the National Steel Council, to invite the leadership of NASWDEN for further discussions and mediation.

Prince Audu also urged steel-producing companies and other stakeholders to cooperate with the process and resolve their differences through dialogue and responsible engagement.

He called on all stakeholders to support the efforts of President Bola Ahmed Tinubu to reposition the steel sector under the Renewed Hope Agenda.

The Minister said the Federal Government remains committed to creating an enabling environment for investment, increased local production, job creation and greater participation in the steel value chain.

He said cooperation among stakeholders is necessary to achieve the Federal Government’s target of 10 million metric tonnes of annual steel production by 2030, increase local value addition and reduce dependence on imported steel products.

Prince Audu therefore urged NASWDEN to sheath its sword and suspend the industrial action, assuring the association and other stakeholders that the Ministry is ready to facilitate discussions aimed at resolving the issues and ensuring a stable steel industry.

The association had raised concerns over the alleged undervaluation of scrap metals and reduction in weight through the manipulation of weighing scales.

NASWDEN also complained about the involvement of steel-producing companies in direct scrap metal trading, the importation of billets and other practices it believes are affecting local scrap dealers.