The Federal Government has launched a significant initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a key player in the nation’s industrial sector. This revival is expected to boost the local economy, create jobs, and strengthen Nigeria’s position in the global aluminium market.

During a two-day facility tour of ALSCON in Ikot Abasi, Akwa Ibom State, from Monday, January 27th, to Tuesday, January 28th, 2025, the Minister of Steel Development, Prince Shaiubu Abubakar Audu, underscored the strategic importance of resuscitating the company. He emphasized that the initiative goes beyond aluminium production, aiming to establish a robust industrial base that will attract foreign investment and stimulate economic growth. He further reiterated the present administration’s commitment to making Nigeria a hub for aluminium production in Africa.

Prince Audu, accompanied by the Permanent Secretary, Dr. Chris Osa Isokpunwu, and other Ministry Directors, disclosed that after extensive deliberations, President Bola Ahmed Tinubu, GCFR, directed the Ministry, as the regulator of the aluminium industry, to resolve all lingering issues surrounding ALSCON. He stated that once these challenges are addressed, the company is expected to generate thousands of direct and indirect jobs, significantly benefiting the local economy. Additionally, reviving ALSCON will enhance the supply chain for aluminium products, benefiting industries such as construction, automobile manufacturing, and packaging.

The Minister also highlighted the anticipated economic impact of ALSCON’s revival, noting that it is expected to attract substantial investments in the aluminium sector and generate significant revenue for the government through taxes and royalties. He emphasized that for Nigeria to achieve President Tinubu’s vision of a $1 trillion economy by 2030, critical industrial assets like ALSCON must be fully operational.

The visit aimed to provide a firsthand assessment of the plant’s capacity, enabling the Minister to prepare a comprehensive report for the President’s consideration and approval on the best approach to resolving all outstanding issues related to ALSCON.

In his remarks, the Permanent Secretary, Dr. Chris Osa Isokpunwu, stressed the plant’s critical role in the nation’s economic development. He reaffirmed the Ministry’s commitment to ensuring ALSCON’s revival and urged all stakeholders to cooperate by providing necessary information to facilitate a speedy resolution.

Speaking on behalf of ALSCON, Managing Director Zaviyalov Dmitriy acknowledged the challenges that have hindered the plant’s revival. He disclosed that the management has maintained a workforce of approximately 108 employees to preserve the plant’s infrastructure and equipment in readiness for an overhaul and full-scale operations.

The facility tour concluded with a technical session between Ministry Directors and ALSCON management to evaluate the plant’s current status and explore solutions to existing bottlenecks.