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Nigeria imports as much as $3.3 billion annually

• Friday, September 4, 2020
• Source:ferro-alloys.com

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• Keywords:Nigeria, steel, import

[Ferro-Alloys.com]

According to the Nigeria Attack reported in 1st Sep, Nigeria spends about $3.3 billion a year on steel imports, Nippon Minerals and Steel Development Minister Olamulcan Adibate said on Monday Aug.31.

According to Adibate, Nigeria’s GDP is about $440 billion, one of Africa's fastest-growing economies. Although Nepal Nigeria has more than 30 steel manufacturers, they are not able to make steel smelting. The main raw materials come from scrap and billet imported from China, with an annual capacity of only 2.2 million tons.

Source: MOFCOM

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