Federal government has disclosed that the steel sector is critical in the industrialisation of any nation.

Minister of Finance and Coordinating Minister for the Economy, Dr Ngozi Okonjo Iweala stated this in Ilorin last week Friday, at the pre-commissioning visit to KAM Industries Limited, Ilorin.

Also, she assured Nigerians of the President Goodluck Jonathan-led administration's support for indigenous companies that are contributing meaningfully to the economy.

According to the minister, the federal government realised that indigenous companies face challenges of infrastructure, access to capital and others which make cost of production high and working tirelessly to bring interest rate to small two digits rate.

Earlier, Kwara State governor, Abdulfatah Ahmed had appeal to the FG to grant new industries owned by Nigerians duty free operations to enable them stabilise and flourish for sustainable economic development of the country.

Governor Ahmed attributed the collapse of many companies in the past to hostile environment.

"Some of the industries that brought smiles to the faces of the people of this State and joy to their homes have either become ghosts of themselves or out rightly gone out of existence because the environment in which they operate is hostile, harsh and not favourable to their survival".

Represented by the Secretary to the State Government, Alhaji Isiaka Gold, the governor said the waivers should be extended to commercial farms that create employment opportunities to the teeming youths of the country and also create access to dairy products at affordable rates.

Meanwhile, the deputy managing director, KAM Industries Limited, Alhaja Mariam Bola Yusuf in her address said the industry's multi billion naira Cold Steel Rolling Mill produces cold roll sheets that would be used for products such as galvanised roofing sheets, car bodies, pipes, head pan among others