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7 galvanized steel firms shut down in Nigeria - GISMA

Steel News - Published on Tue, 14 May 2019

Image Source: James Smith Fencing
Daily Trust Galvanized Iron and Steel Manufacturing Association reported that 7 steel companies with annual production capacity of 1 million tonnes have shut down in Nigeria within the last three years. GISMA official, AlhajI Bello Mohammed, said steel industries in Nigeria would soon collapse as the textile industry did with attendant millions of direct and indirect job losses if the increasing smuggling remained unchecked by assigned government agencies.

He noted that since there is no effective clamp down on the smugglers by the Federal government, activities of the smugglers have been emboldened and more daring as they now use the Free Trade Zones where their products in containers are not formally inspected by assigned regulatory authorities. He said “They also have scattered all over notorious warehouses that they use as bridges between the Free Trade Zones and the various markets nationwide.”

He added that the smugglers do not pay statutory fees thereby defrauding the government of billions of revenue thus an act of economy sabotage.

Mohammed called on Federal Government through the office of the Vice President to quickly set up Special anti-smuggling task force saddled with responsibility to put a final stop to the smuggling of roofing sheets into the country.

Source :

Posted By : Rabi Wangkhem on Tue, 14 May 2019
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