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Nairaland Forum / Nairaland / General / Politics / How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million (2929 Views)
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How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by NtoAkwaIbom(m): 2:43pm On Feb 10, 2019 |
ALSCON Potroom West 2 Once booming with life and economic activity, Nigeria’s “Smelter City” suffered an agonizing reversal of fortune following the closure of the Aluminium Smelter Company of Nigeria last year. ALSCON, Nigeria’s only aluminium smelting plant, was shut down after its managers, Russian aluminium giant, United Company RUSAL PLC, sacked more than 98 percent of its workforce, most of them local hires, following crippling protests against poor working conditions, dwindling productivity and spiralling debts. Before its closure, ALSCON was the second largest employer of the Ikot Abasi community after the local council. Almost 1,800 direct hires were natives. Over 2,500 others worked for support-services companies. It was, perhaps, an answer to the region’s quest for solution to its environmental pollution and youth restiveness. Since its closure last September, over 200,000 residents of this agrarian community located in the oil-rich Niger Delta region, have been living in darkness. Its only source of electricity, extended as token of social responsibility by ALSCON, was cut. Amaete Ntuk, former head of the local council, said ALSCON’s sudden closure spelt death for a great dream. “ALSCON was our only major industrial establishment; the mainstay of Ikot Abasi economy,” he said. “The brief period ALSCON operated seemed a beautiful dream for all. Its closure has turned into a nightmare for our people.” Okowa Campaign AD “The privatization of ALSCON to the Russians has brought more pain than gain to Niger Delta people,” said Donatus Uko, the President General, Mboho Ndito Ikot Abasi, a local community development association. The smelting plant was set up in 1997 to harness Nigeria’s estimated 187 trillion cubic feet of gas reserves for aluminium production, industrialization and national economic growth. At peak operation in 1999, ALSCON earned $324 million in exports of aluminium products. It created jobs, satisfied Nigeria’s aluminium needs of less than 20 percent, and earned income from exporting 80 percent of its products, according to the Bureau of Public Enterprises (BPE), Nigeria’s agency in charge of privatization of public companies. “The Ikot Abasi Smelter was to bring desperately needed employment to the region”, the head of BPE, Benjamin Dikki, said. In 1999, the newly elected government of President Olusegun Obasanjo had other plans. Nigeria’s top brass appropriated ALSCON’s sale profits, used RUSAL as a front for the willing buyer, and paid for the smelter with the nation’s funds, documents show
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Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by dguyindcorner(m): 2:46pm On Feb 10, 2019 |
He's coming to finish Nigeria once and for all. God forbids. 1 Like
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Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by dokunbam(m): 2:51pm On Feb 10, 2019 |
What so the guy reach that side KleptocraAtiku Oluaye criminal Ilu moka gbewiri(klepto) 1 Like |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by Nobody: 2:55pm On Feb 10, 2019 |
.......and many jobless people here are seriously campaigning for Atiku to return to the Rock of Power to continue his looting. 1 Like |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by AtikulatedNaija: 3:01pm On Feb 10, 2019 |
I will say that in all these, Buhari can only be responsible for 15% of the entire mess, the cabals take 25% while the remaining 60% can be ascribed to the madness exhibited by the so-called Buharideens or Buharists who have taken their "fanatic tendencies to the level of gross idiocy that animals will not even express". The whole drama is right before there eyes with convincing statistics that Nigeria under Buhari is less safer to live than previous government yet you hear "Sai Buhari"! Nigeria's debt keep mounting both locally and internationally, yet it is "Sai Buhari"! Unemployment has assumed a ridiculous and dangerously traumatic height that had given birth to all manner of vices never before experienced among youths, yet you hear "Sai Buhari"! Life has been terrible for these blind followers of Buhari called Buharideen and Buharists yet they will defend him ignorantly that it is a sacrifice they must pay to get it right. I asked, was there a time Nigeria had ever been broke for them to be treated like stray dogs by a President who promised them "bread and butter while campaigning"? |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by Nobody: 3:02pm On Feb 10, 2019 |
Bubu will deal with him las las. |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by NtoAkwaIbom(m): 3:05pm On Feb 10, 2019 |
Akwa ibom state currently has no infustry and the one industry we had the one person that sold it has liased with people whom i was fighting tooth and nail as they called us zoo, to come back and sell NNPC and every other thing remaining Itipeke |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by CrtlAltDel: 3:07pm On Feb 10, 2019 |
klep·to·crat /ˈkleptəˌkrat/Submit noun a ruler who uses political power to steal his or her country's resources. |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by Parada: 3:35pm On Feb 10, 2019 |
This Atiku is nothing but a useless shameless thief. NtoAkwaIbom: 1 Like |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by 0koyibos: 3:48pm On Feb 10, 2019 |
This is the same Atiku Igbos are rooting for. I've always said it, if the Igbos support someone, that person must be an irredeemable thief. |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by Seetto: 3:55pm On Feb 10, 2019 |
Oh GOD not again, save us from Atiku and his ipob/jobless youth supporters. |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by princemillla(m): 4:08pm On Feb 10, 2019 |
NtoAkwaIbom: You can do better than this. Do pay adverts on dailies so u can further push ur bigotry to the world |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by onez: 4:18pm On Feb 10, 2019 |
I DON'T UNDERSTAND SOME PEOPLE. BUHARI'S ECONOMIC POLICIES KILLED A COMPANY AND THEY ARE ATTRIBUTING IT TO MUNDANE ISSUES. IT WON'T BE WELL WITH THE TYRANT WHO HAS CAUSED MORE PAIN TO SUFFERING NIGERIANS. |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by SalamRushdie: 4:19pm On Feb 10, 2019 |
El Rufai was in charge of the BPE at this time and El Rufai has confirmed under oath that Atiku never tried to influence him |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by NtoAkwaIbom(m): 4:32pm On Feb 10, 2019 |
princemillla: Ur real daaad |
Re: How Atiku Sold Akwa Iboms ALSCON BUILT WITH $3.5billion For $120million by OBAGADAFFI: 4:39pm On Feb 10, 2019 |
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