The Federal Government has reaffirmed its commitment to revive the Aluminium Smelting Company of Nigeria (ALSCON), a pivotal player in the nation’s industrial landscape.
Naijaonpoint reports that the Minister of Steel Development, Shaiubu Abubakar Audu, said the revival would reinvigorate the local economy, create jobs, and enhance Nigeria’s position in the global aluminium market.
Audu emphasized the importance of resuscitating the project during his Two-Day Facility Tour of the ALSCON in Ikot Abasi, Akwa Ibom State, from Monday to Tuesday.
In a statement from the Ministry spokesperson, Salamatu Jibaniya, the Minister noted that ALSCON’s revival was not just about aluminium production but also about creating a robust industrial base to attract foreign investment and stimulate economic growth. The minister added that the present administration is committed to making Nigeria a hub for African aluminium production.
Audu disclosed that President Bola Tinubu gave charge to the Ministry, as the regulator of the aluminium industry, to ensure a resolution of all teething issues regarding the ALSCON.
He stressed that the company, when all issues are successfully resolved, was expected to create thousands of direct and indirect jobs, providing a significant boost to the local economy.
Additionally, he said resuscitating the company would enhance the supply chain for aluminium products, which would benefit various sectors, including construction, automobile, and packaging.
“The revival of ALSCON is anticipated to attract investments in the aluminum sector, as the project is expected to generate substantial revenue for the government through taxes and royalties, contributing to national development goals.
“For the President to achieve the $1trillion economy for the country by 2030, all critical assets have to come back on line,” he said.
The Minister further revealed that the purpose of the visit was to assess the plant’s capacity firsthand, which would enable him to prepare a comprehensive report on the best ways to resolve all the impasse regarding the ALSCON for the President’s consideration and approval.
Speaking, the Managing Director of the Plant, Zaviyalov Dmitriy, while noting the challenges that have 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.