The Federal Government has began significant initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a pivotal player in the nation’s industrial landscape. The revival will reinvigorate the local economy, create jobs, and enhance Nigeria’s position in the global aluminium market.
The Minister of Steel Development Prince Shaiubu Abubakar Audu while emphasizing the importance of resuscitating the project during his Two-Day Facility Tour of the Aluminum Smelting Company of Nigeria in Ikot Abasi, Akwa Ibom State from Monday 27th January to Tuesday, 28th January 2025, stated that, the revival of ALSCON is not just about aluminium production but about creating a robust industrial base that will attract foreign investment and stimulate economic growth, adding that the present administration is committed to making Nigeria a hub for aluminium production in Africa.
Prince Audu, who was accompanied by the Permanent Secretary, Dr. Chris Osa Isokpunwu and other Directors of the Ministry, disclosed that after series of extensive meetings, Mr. President, Bola Ahmed Tinubu GCFR gave charge to the Ministry, as the Regulator of the Aluminum industry, to ensure a resolution of all teething issues regarding the Aluminum Smelting Company of Nigeria, stated that the company, when all issues are successfully resolved, is expected to create thousands of direct and indirect jobs, providing a significant boost to the local economy. Additionally, he said resuscitating the company, will enhance the supply chain for aluminium products which will benefit various sectors, including construction, automobile and packaging.
According to him, the revival of ALSCON is anticipated to attract investments in the aluminium sector, as the project is expected to generate substantial revenue for the government through taxes and royalties, contributing to national development goals. In his words, “for the President to achieve the $1trillion economy for the country by 2030, all critical assets have to come back on line”.
The Honourable Minister revealed that the purpose of the visit was to have a firsthand assessment of the plant’s capacity that will enable him do a comprehensive report for the consideration and approval of Mr. President on best ways of resolving all the impasse regarding the Aluminum Smelting Company of Nigeria.
In his remarks, the Permanent Secretary, Dr. Chris Osa Isokpunwu, stating how critical the Plant is to the economic development of the country, reiterated the Ministry’s commitment to ensure the Plant is resuscitated. He enjoined all the parties involved to make sure they provide all the necessary information required that would assist to facilitate speedy resolution.
Speaking, Managing Director of the Plant, Zaviyalov Dmitriy, noting the challenges that has hampered the revival of the plant, disclosed that the Management has kept a staff strength of about 108 people to keep the Plant infrastructure and equipment in preservation state for the overhaul and final start of the Plant.
The facility tour continued with a technical session of Directors of the Ministry and Management of ALSCON on the current status of the Plant and ways of resolving the bottlenecks so as to facilitate solution.
Signed
Salamatu F. Jibaniya
Head (Press & Public Relations)
