Revival Of ALSCON Will Reinvigorate Economy-Audu

The revival of the Aluminium Smelting Company of Nigeria, ALSCON, will reinvigorate the economy, create jobs, and enhance Nigeria’s position in the global aluminium market.

The Minister of Steel Development, Prince Shaiubu Audu, stated this during a Two-Day facility tour of the Aluminium Smelting Company of Nigeria in Ikot Abasi, Akwa Ibom State.

Prince Audu, while emphasizing the importance of resuscitating the project, added that it is not only about aluminium production but also about creating a robust industrial base that will attract foreign investment and stimulate economic growth.

He stressed 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, President, Bola Tinubu charged the Ministry to ensure a resolution of all teething issues regarding the Aluminum Smelting Company of Nigeria.

According to Audu, when all issues are successfully resolved, it is expected that thousands of direct and indirect jobs will be created to boost the economy.

“Additionally 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.

“For the President to achieve the $ 1 trillion economy for the country by 2030, all critical assets have to come back on line,” he emphasized.

The Minister explained that the purpose of the visit was to have a first hand assessment of the plant’s capacity that will enable him do a comprehensive report for the consideration and approval of the 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, while explaining 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 provided all the necessary information required that would assist in facilitating speedy resolution.

Earlier, Managing Director of the Plant, Zaviyalov Dmitriy, who identified the challenges that hampered the revival of the plant, disclosed that the Management kept a staff strength of about 108 people to keep the Plant infrastructure and equipment in preservation state.

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.

Georgina Humphrey, Edited By Grace Namiji