Section 3: Functions of the Council.

The Council shall have responsibility for the following, that is-(a) central planning for the steel industry;
(b) research and development for the steel industry, including research and development of the technology and other aspects of iron and steel production and the utilisation of the products and by-products of iron and steel plants;
(c) co-ordination of exploration for iron ore, cooking coal, limestone, dolomite, refractory clay and other minerals related to iron and steel production in co-operation with the Federal Ministry of Power and Steel, the Nigerian Coal Corporation and the Nigerian Mining Corporation;
(d) training of Nigerians in all aspects of the iron and steel industry and related fields and the deployment of senior Nigerian management staff and trainees to steel plants and other sectors of the industry;
(e) research into the development and manufacture of equipment to be used for the purpose of and in relation to basic engineering in the steel industry;
(f) the establishment of facilities and the carrying out of tests and operations for ascertaining and improving the qualities and performance of the materials and processes for iron and steel production, including iron and steel products;
(g) advising the Federal Government on the establishment in Nigeria by that Government of additional iron and steel plants and generally on the formulation of policies relating to the development of the iron and steel industry and related industries in Nigeria;
(h) assisting the steel plants in fixing the prices of their finished products and in purchasing raw materials required by them for steel production and, for this purpose, the collection of information on the supply and demand situation and comparative pricing of iron and steel products, as between Nigeria and other countries; and
(i) carrying on such other activities as may be conducive to the discharge of the functions vested on the Council under or pursuant to this Act.