The Federal Government has launched a major initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a key player in the nation’s industrial sector.
The revival of ALSCON 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 27, to Tuesday, January 28, 2025, the Minister of Steel Development, Prince Shaiubu Abubakar Audu, emphasized the strategic importance of resuscitating the plant.
He stated that ALSCON’s revival goes beyond aluminium production, as it will serve as a catalyst for industrial growth, attract foreign investment, and contribute to economic development. He reiterated the administration’s commitment to making Nigeria a leading aluminium producer in Africa.
Prince Audu, accompanied by the Permanent Secretary, Dr. Chris Osa Isokpunwu, and other senior officials, disclosed that, following extensive discussions, President Bola Ahmed Tinubu had directed the Ministry to resolve all outstanding issues affecting ALSCON. Once fully operational, the company is expected to create thousands of direct and indirect jobs, significantly boosting the local economy. Additionally, it will enhance the aluminium supply chain, benefiting key industries such as construction, automotive, and packaging.
The minister highlighted that ALSCON’s revival will attract further investment into the aluminium sector and generate substantial government revenue through taxes and royalties, aligning with Nigeria’s broader economic development goals. He noted, “For the President to achieve the $1 trillion economy target by 2030, all critical assets must be restored and fully operational.”
Prince Audu further explained that the purpose of his visit was to conduct a firsthand assessment of ALSCON’s operational capacity, enabling him to prepare a comprehensive report for the President’s consideration on the best path forward.
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In his remarks, Permanent Secretary Dr. Chris Osa Isokpunwu underscored ALSCON’s critical role in Nigeria’s industrial development. He reaffirmed the Ministry’s commitment to ensuring the plant’s revival and urged all stakeholders to provide the necessary information to facilitate a swift resolution.
ALSCON’s Managing Director, Zaviyalov Dmitriy, acknowledged the challenges that have hindered the plant’s revival. He revealed that management has maintained a staff strength of about 108 personnel to preserve the plant’s infrastructure and equipment in preparation for a full-scale restart.
The facility tour concluded with a technical session between Ministry Directors and ALSCON management, focusing on the plant’s current status and identifying solutions to existing bottlenecks.
