Section 2: Responsibilities and functions of the Authority.

(1) Subject to and in accordance with this Act, the Authority shall be charged with the responsiblity for-
(a) the construction, operation and maintenance of a national iron and steel plant or national iron and steel plants in such a place or such places in Nigeria as the Federal Government may require,
(b) the procurement of materials for the construction, operation and maintenance of the plant or plants in question, and
(c) the development of the application and use of iron and steel generally.
(2) In connection with the discharge of its responsibilities under subsection (1) of this section, the functions of the Authority shall be-
(a) to examine from the technical and economic point of view in all its aspects the feasibility of establishing in Nigeria a national iron and steel plant or national iron and steel plants on the basis of locally available raw materials, imported raw materials or both, to consider suitable processes, possible sites and other factors relating to the establishment of the said plant or plants and to make recommendations as to the viable economic conditions for the establishment thereof;
(b) to conduct, manage and co-ordinate (in collaboration with the Federal Ministry of Mines and Power and its departments) surveys, mining operations and other necessary activities for obtaining in Nigeria materials of the kind needed for iron and steel production;
(c) to establish facilities and conduct tests and operations for ascertaining and improving the qualities and performance of the materials and processes for iron and steel production, and of iron and steel products;
(d) to design, erect and construct in Nigeria a national iron and steel plant or national iron and steel plants and provide and carry out incidental services and works;
(e) to train managerial and technical staff for the running of the said plant or plants and for the carrying on of the various surveys, services and other activities incidental or related to the plant or plants and its or their establishment;
(f) to conduct research and development in the technology and other aspects of iron and steel production and in the application of iron and steel products;
(g) to operate and manage the said plant or plants and incidental services and to sell iron and steel products;
(h) to utilise the by-products of the said plant or plants;
(i) to develop and manufacture iron and steel products and equipment to be used for the purposes of and in relation to basic engineering;
(j) to collect information on the supply and demand and prices of iron and steel products in Nigeria and elsewhere in order to determine how the development of industries in Nigeria is hereby affected;
(k) to effect the standardisation of iron and steel products for economic production and utilisation and for the purpose of facilitating the co-ordination of specifications;
(l) to make recommendations to the Minister on the formulation of policies relating to the development of the iron and steel industry and related industries' in Nigeria; and
(m) to carry on all such other activities as are necessary or expedient for the discharge of its responsibilities under subsection (1) of this section.