The Federal Government has assured that it will swiftly address the lingering ownership dispute and gas supply challenges crippling operations at the Aluminum Smelter Company of Nigeria in Ikot Abasi, Akwa Ibom State.
The Minister of Steel Development, Prince Shuaibu Audu, gave this assurance during a visit to the idle multi-billion-dollar plant on Monday, vowing that the facility would be revived in line with President Bola Tinubu’s Renewed Hope Agenda.
A statement issued on Thursday by ALSCON’s Managing Director, Zavlyalov Dmitriy, revealed that stakeholder consultations had reached an advanced stage to resolve key issues, including the dredging of the Imo River to enhance industrial operations.
Despite being shut down for over a decade, the minister expressed satisfaction with the condition of the plant’s equipment, describing its revival as critical to the administration’s economic goals.
“I think it is very clear that the Federal Government has invested significant resources in establishing this plant.
“The plant first began operations in 1997, ran for about two years, then resumed production between 2008 and 2013 before shutting down again.
“In terms of job creation, ALSCON has the potential to generate 20,000 direct and indirect jobs, making its revival crucial to the economic agenda of this administration,” Audu stated.
He disclosed that the current managers of the plant have invested over $400 million in its infrastructure, adding that President Tinubu is committed to expanding Nigeria’s economy to $1 trillion by 2030, a goal that requires reactivating key national assets like ALSCON.
He said, “As the minister overseeing the steel industry, I am fully committed to resolving these bottlenecks. The ownership dispute between BFIG and RUSAL must be settled without further delay.
“There is also the issue of gas supply, which needs urgent intervention, as well as the dredging of the Imo River, which is essential for the plant’s smooth operations.
“The Federal Government will do everything humanly possible to bring ALSCON back to life,” Audu assured.
Responding, ALSCON’s Managing Director, Zavlyalov Dmitriy, affirmed that the company is fully prepared to resume production once the legal and infrastructural challenges are addressed.
He noted that despite the plant’s shutdown, RUSAL has consistently maintained the facilities and equipment while also investing in corporate social responsibility initiatives, including:
Dmitriy reiterated RUSAL’s commitment to sustaining its corporate responsibilities, even as stakeholders push for a final resolution of the crisis that has kept ALSCON dormant for over a decade.
