Nigeria aims to fully or partially privatise its steel sector within 12 months, according to the mining and steel minister, Musa Sada.

'We are going back to the drawing board on the whole issue of privatising the steel sector. This is why we are asking interested parties to come in,' says Sada.

The minister says the government will be exploring new arrangements - a concession, joint venture or outright takeover.

Nigeria is seeking to give more focus to its mineral deposits, which have been largely neglected and overshadowed by the huge oil industry.

The country is particularly seeking investors for iron ore, planned to feed a renewed steel sector, and coal, which is due to be used in power plants to reduce shortages in electricity supply. 


 Credit: Reuters