October 22, 2014 – Minister of Trade and Investment, Dr. Olusegun Aganga has said that Nigerian spends about $3.3 billion importing iron ore and steel from other countries.
The minister who was speaking in Ilorin, Kwara state said Nigeria remains one of the highest producer of Iron ore and steel with over 1 million tons as reserve adding that if the current level of import is sustained Nigeria will spend over $15 billion importing iron ore and steel into the country.
He said that iron are steel are material that required for Nigeria to record any breakthrough in technology.