ALSCON in Nigeria to resume operations after a decade

After lying idle for a decade, Aluminium Smelter Company of Nigeria (ALSCON), located at Ikot Abasi, Akwa Ibom State, is all set to start its operations, said the Bureau of Public Enterprises (BPE).

On February 4, local media reported that Nigeria’s President Muhammadu Buhari will soon inaugurate the domestic smelting firm, allowing it to begin production once more.  

According to Nigeria’s Director General of the Bureau of Public Enterprises Alex Okoh’s statement on Sunday, the BPE, along with other industry interests, will begin by addressing the problem of consistent, affordable supplies of natural gas to the firm.

He explained, “Upon the resolution of the gas price and supply issues, a new agreement will be signed in line with the current realities.” He also added, “It will also take into consideration the trend internationally to allow ALSCON remain competitive in the global aluminium products market.”

BPE disclosed that it had requested the Federal Government earlier to consider and approve the categorisation of ALSCON under a strategic industry so that it could buy gas at a concessionary price and begin production and operation profitably.

A document signed by ALSCON last month had laid out a plan for restarting the company, Okoh revealed. It had submitted a roadmap with detail issues that require urgent resolution before the company returns to its operations.

Okoh continued by expressing his hope that reopening of the firm will emerge as a strong aluminium sector in Nigeria. ALSCON will be able to provide more jobs for the region, conserve foreign exchange, bolster industries like automotive production and associated sectors, and foster the creation of spin-off industries in Nigeria.