President John Dramani Mahama has revealed that Ghana’s annual steel demand is estimated at over 1.2 million metric tonnes, driven largely by construction, energy, mining, and manufacturing sectors.
Speaking at the commissioning of the B5 Plus LTD Steel Manufacturing Plant on Friday February 20, President Mahama highlighted steel consumption as a key measure of industrial growth.
“Across emerging economies, per capita steel consumption rises in tandem with infrastructural development, urbanisation, and industrial expansion,” he said.
Historically, a significant portion of Ghana’s steel demand has been met through imports, placing pressure on foreign exchange reserves. President Mahama emphasised that the expansion of the B5 Plus facility will help strengthen domestic production, reduce reliance on imports, and protect the country from global price volatility.
“The expansion of this facility strengthens domestic capacity to substitute those imports, save foreign exchange, improve our trade balance, stabilize supply chains, and reduce exposure to global price swings,” he added.
The commissioning of B5 Plus LTD is expected to contribute to Ghana’s broader industrialisation agenda, supporting job creation, infrastructure projects, and sustainable economic growth.
