President John Dramani Mahama has said that reducing steel imports by even 20 to 30 percent annually could save Ghana hundreds of millions of dollars, underscoring the importance of industrial self-reliance. Mahama speech transcripts If we reduce steel imports by even 20 to 30% annually, the foreign exchange savings alone could amount to hundreds of millions of dollars. This is what industrial sovereignty is about,” he said. President Mahama made the remarks during the commissioning of the B5 Plus LTD Steel Manufacturing Plant on Friday, February 20, highlighting the plant’s role in strengthening domestic steel production. Steel consumption is a strong indicator of industrial development,” President Mahama said. “Across emerging economies, per capita steel consumption rises in tandem with infrastructural development, urbanisation, and industrial expansion.” Ghana’s annual steel demand is estimated at over 1.2 million metric tonnes, driven prima...