The Nigerian government has announced plans to ban the importation of steel products into the county to encourage local investors in the sector.
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“My ultimate aim is that we ban steel importation into the country totally,” Nigeria’s Mines and Steel Development Minister Olamilekan Adegbite said.
“But before we do that, we must be able to satisfy local consumption from local production and have some excess for export, that is where we are heading,”
the minister said.“But before we do that, we must be able to satisfy local consumption from local production and have some excess for export, that is where we are heading,”
If it comes into effect, the ban will be a part of Nigeria’s tilt towards protectionism. The country closed its borders in August to limit smuggling in of rice and illegal export of petroleum products.
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