₦airaland Forum

The revival will reinvigorate the local economy, create jobs, and enhance Nigeria's position in the global aluminium market.

The federal government has begun an initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a pivotal player in the nation’s industrial landscape.

The Assistant Director, Information and Public Relations of the Ministry of Steel Development, Tine-Lulun Maureen, disclosed this in a statement on Tuesday.

According to the statement, the revival will reinvigorate the local economy, create jobs, and enhance Nigeria’s position in the global aluminium market.

ALSCON, incorporated in 1989, was originally a joint venture project between the Nigerian government and two foreign technical partners, Ferrostaal AG of Germany and Reynolds International Inc. U.S.

For over a decade, the company has been enmeshed in an ownership tussle between a Nigerian-American consortium, BFIGroup, and a Russian firm, UC RUSAL.

In July 2023, Vice President Kashim Shettima restated the determination of the Bola Tinubu administration to revive ALSCON, particularly by engaging with key stakeholders in the industry.

The Minister of Steel Development, Shuaibu Audu, while emphasising the importance of resuscitating the project during his two-day facility tour of the company in Ikot Abasi, Akwa Ibom State, according to the statement, 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.

He added that the present administration is committed to making Nigeria a hub for aluminium production in Africa.

Mr Audu, who was accompanied by Chris Isokpunwu, the permanent secretary and other directors of the ministry, according to the statement, said after a series of extensive meetings, 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 company.

“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.

The minister said 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 online.” Mr Audu was quoted as saying.

He revealed that the purpose of the visit was to have a firsthand assessment of the plant’s capacity that would enable him to do a comprehensive report for the consideration and approval of the president on the best ways of resolving all the issues regarding the company.

In his remarks, Mr Isokpunwu noted how critical the plant is to the country’s economic development while reiterating the ministry’s commitment to resuscitating the plant.

He enjoined all the parties involved to ensure they provided all the necessary information to facilitate a speedy resolution.

Zaviyalov Dmitriy, the managing director of the plant, noting the challenges that have hampered the revival of the plant, said the management had 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.

Source: https://www.premiumtimesng.com/news/more-news/770188-fg-set-to-revive-nigerias-aluminium-smelting-company.html

Looking forward to when Nigeria will be so industrialised like China and the west...


All this continous tense like going-to, will, want to Don tire us..

Long over due. So many dead industries to be revived with our subsidy money and they where busy sharing the money among themselves.


As a good Nigerian I know is a fat lie.

CNG Buses wey Tinubu promise say e go ease transportation costs when he comot fuel subsidy almost 2 years ago, we nor see.
Na this one he talk say e wan Kickstart 😏😒

"set to" . . . . .

AmazingGenius:
Source: https://www.premiumtimesng.com/news/more-news/770188-fg-set-to-revive-nigerias-aluminium-smelting-company.html

If the Tinubu administration likes, they can keep neglecting infrastructure, but reality will soon humble them. With Trump cutting funds to "shithole" countries and deporting illegals, they’ll have no choice but to fix Nigeria. When there's nowhere to run, they’ll finally understand that reviving industries like ALSCON isn’t a favor but a necessity!

Set to...

Will...

To...

We are used to these words.

Jokers

Stupid government
Stupid emilokan

Most sectors would be revived under this administration.

Asiwaju is the Nigeria president

With this news, then my local government has more multinational companies than all south eastern state put together .

Now, that’s marginalization.

It’s time to go home

clockwisereport:
Set to...

Will...

To...

We are used to these words.

Perhaps you are referring to the past administrations.

This current administration is talk and do. Their talking is not even much self

THEDEEPSIGHT:
"set to" . . . . .

They are always projecting and proposing as if they are still campaigning

This plant was fully equipped and ready for operation, yet it never produced a single sheet of aluminum. Clearly, something is seriously wrong.

helinues:
Perhaps you are referring to the past administrations.

This current administration is talk and do. Their talking is not even much self

Till they finish setting up their "set to"

Their "set to" does not move us

helinues:
Most sectors would be revived under this administration.

Asiwaju is the Nigeria president

Zombie would would

Been hearing this since i was in primary 6

TINUBUISMAD:

Jokers

Stupid government
Stupid emilokan

THEDEEPSIGHT:
"set to" . . . . .

clockwisereport:
Set to...

Will...

To...

We are used to these words.

Did any past administration do it? and why didn't they do it?. Always use your common sense.

Another avenue to loot, ajaokuta has been on the budget for 10yrs and counting yet nothing , refineries has been on the budget for over 10yrs yet nothing to show, tgis govt hurriedly went to blend and load 10trucks of blended chemicals to deceive gullible Nigerians , the truth is that the pple that destroyed this country can’t promise you the can build it back, if you agree you re the biggest fool

Putindbutt:
Did any past administration do it? and why didn't they do it?. Always use your common sense.

Mr common sense, Nigetians are used to those words.

Sell off that plant and most important dredge the IMO river that was the reason it collapsed in the first place

Government have no business in business

Government should own mother more than 35% equity

Oshey!
O set go.

Oya, make una no Balablu this talk ooo. Make una walk the Talk and let the happening Happen.
Nagode my People.

clockwisereport:
Mr common sense, Nigetians are used to those words.

Like the refineries.

mrvitalis:
Sell off that plant and most important dredge the IMO river that was the reason it collapsed in the first place

Government have no business in business

Government should own mother more than 35% equity

And Nigeria is one of the biggest importers from China where major businesses are state-owned. I am fed up seeing stupid comments from dumb people on this forum.
Dredge Imo river, stupid comments.

gare:
This plant was fully equipped and ready for operation, yet it never produced a single sheet of aluminum. Clearly, something is seriously wrong.

The useless Atiku and El Rufai, Chairman of BPE, sold the plant to the useless Russians(Rusal) that used it to access advance USA KKR technology to build a new aluminium smelter in Russia.

Selling critical industrial assets to Russia, Chinese, and Indians is why the automotive industry collapsed. Aluminium. (body, wheel rim and Engine), steel (car frame) and petrochemical (Plastic) account for 90% of a combustion automobile.

The government should get the local private sector to take ownership as they have done with Alson which has been handed over to BFI Group

The Federal Government has facilitated signing a $3.5 billion agreement between BFI Group and China National Chemical Engineering Corporation (CNCEC) to revive the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State.

This guy knows how to capture people's attention.
Each state has specific issues they want the government to address or revive.
Akwa Ibom has two key concerns: this one and the Abestonit factory in Oron.
He's gradually taking stock of what to campaign with, and the electioneering process is subtly activated.
Meanwhile, the clueless PDP is too busy fighting among themselves yet still hopes to win.
They seem more inclined to remain a useless opposition in a joint venture with Obi.

MemphitzDgreat1:
CNG Buses wey Tinubu promise say e go ease transportation costs when he comot fuel subsidy almost 2 years ago, we nor see.
Na this one he talk say e wan Kickstart 😏😒

FG is not into transport business.

It is people like you and me that are into the business.

We all know Nigerians. They won't reduce the cost and fg can't force them. FG is giving transport business owner free CNG conversion.

Enough of promise abeg 😡

Omo this Goverment everytime na set to set to. I pray they succeed because it is not a day job.
Let see how it progress.

God bless Nigeria 🇳🇬🇳🇬

AmazingGenius:
Source: https://www.premiumtimesng.com/news/more-news/770188-fg-set-to-revive-nigerias-aluminium-smelting-company.html

Scam news

to achieve the $1 trillion economy for the country by 2030, all critical assets have to come back online

Very true

GalaxyStones:
Looking for forward to when Nigeria will be so industrialised like China and the west...


All this continous tense like going-to, will, want to Don tire us..

Corruption in Nigeria will not allow it

ednut1:
Been hearing this since i was in primary 6

What class are you now? And who has been saying it?