The Federal Government has reiterated its commitment to resolving the challenges that led to the shutdown of operations at the Aluminum Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, over a decade ago.
According to a statement issued on Thursday by ALSCON’s Managing Director, Zavlyalov Dmitriy, the Minister of Steel Development, Prince Shuaibu Audu, made this pledge during his visit to the plant on Monday.
Audu noted that consultations and stakeholder engagements are ongoing to address the gas supply issues and the lingering ownership dispute between BFIG and RUSAL.
“There is a need to resolve the ownership tussle very quickly so that production can resume at the plant,” he emphasized.
He continued, “As you can see, this plant has been shut down for over a decade, and we have massive resources wasting away. I have inspected the plant, and as a government, we will do everything humanly possible to bring it back to life.
“There is a blueprint for the plant to bounce back in a few years. However, certain issues must be resolved. As the Minister overseeing the steel industry, I am committed to resolving these issues, particularly the ownership tussle between BFIG and RUSAL.
“This must be resolved quickly. The issue of gas supply must also be addressed, along with the need to dredge the Imo River.”
Audu emphasized that companies like ALSCON, which have the potential to create massive job opportunities and generate substantial revenue, are critical to growing Nigeria’s economy in line with President Bola Tinubu’s Renewed Hope Agenda.
Despite the prolonged shutdown, the Minister expressed satisfaction with the condition of the plant’s equipment and facilities.
Speaking during the visit, Zavlyalov Dmitriy, the Managing Director of ALSCON, reiterated the company’s readiness to resume operations once the challenges are resolved.
He noted that RUSAL has been maintaining the facilities and equipment since the plant was shut down, ensuring they remain in good condition.
