Vice President Yemi Osinbajo has declared that although Nigeria remains the 12th largest iron ore resource country in the world and second largest in Africa, about 70 percent of the deposits are yet to be tapped.
The Vice President made the declaration at the foundation laying of Kam Steel Integrated complex at Jimba Oja in Ilorin, Kwara State yesterday.
Osinbajo, who said he was determined to address the situation, noted that the “Federal Government was determined to look at options aimed at solving the challenges, including synergising government capacity and private sector competencies for certifying existing deposits.”
A statement from his media office quoted Osinbajo as describing steel as the world’s most important engineering material, noting that this administration would fast-track industrialisation through the development of the steel sector.