The Trade and Industry ministry is seeking parliamentary approval to stop the exportation of ferrous metals.
Joy News has learnt that many steel manufacturing companies in the country are operating below capacity due to the non availability of raw materials.
Trade and Industry Minister, Haruna Iddrisu told Joy News the law when finally passed will ensure available raw materials for the steel industry.
According to him, “There’s been an administrative ban on the export of ferrous scrap to save and protect our steel industry in order that they are assured of some raw materials to use.”
The government, he added, is “elevating that administrative ban into a legal ban and consequently within the expiration of 21 days after the Committee on Subsidiary Legislation has considered it, it will become law.”
Haruna Iddrisu said “Our steel industries are operating below capacity; I understand they are operating at 30 per cent, some even less and not more than 40 per cent, because of the absence of the raw material.”