Prince Shaiubu Audu: ALSCON's revival, a strategic move to reinvigorate Nigeria's aluminium industry

The Federal Government of Nigeria has launched a major initiative to revive the Aluminium Smelting Company of Nigeria (ALSCON), a key player in the country's industrial sector. Minister of Steel Development, Prince Shaiubu Audu, stated that the revival aims to reinvigorate the local economy, generate employment, and strengthen Nigeria's standing in the global aluminium market.

Image Source: Federal Ministry of Information & National Orientation

During his two-day facility tour of ALSCON in Ikot Abasi, Akwa Ibom State, from Monday, January 27, to Tuesday, January 28, 2025, Prince Shaiubu Abubakar Audu underscored the critical importance of restoring the company to full operational capacity.

ALSCON's revival

He emphasised that the revival of ALSCON goes beyond aluminium production; it is about building a strong industrial foundation that will attract foreign investment and drive economic growth. He further affirmed that the current administration is dedicated to positioning Nigeria as a leading hub for aluminium production in Africa.

Accompanied by the Permanent Secretary, Dr Chris Osa Isokpunwu, and other Ministry Directors, Prince Audu revealed that following extensive discussions, President Bola Ahmed Tinubu, GCFR, has charged the Ministry, as the regulator of the aluminium industry, with resolving the outstanding issues surrounding the Aluminium Smelting Company of Nigeria.

He stated that once these issues are addressed, the company is expected to generate thousands of direct and indirect jobs, significantly boosting the local economy. Furthermore, he noted that reviving the company would strengthen the aluminium supply chain, benefiting key sectors such as construction, automotive, and packaging.

More investments into the aluminium sector

He explained that the revival of ALSCON is expected to draw investments into the aluminium sector, generating significant revenue for the government through taxes and royalties, thus contributing to the country's national development objectives. He further stated, "For the President to achieve a $1 trillion economy by 2030, all critical assets must be brought back online."

Purpose of the visit

The Honourable Minister stated that the purpose of his visit was to conduct a first-hand assessment of the plant's capacity, which would allow him to compile a comprehensive report for President Bola Ahmed Tinubu's review. This report will outline the best ways to resolve the issues surrounding the Aluminium Smelting Company of Nigeria.

In his remarks, the Permanent Secretary, Dr Chris Osa Isokpunwu, emphasised the plant's crucial role in the country's economic development. He reaffirmed the Ministry's commitment to its revitalisation and urged all parties involved to provide the necessary information to facilitate a swift resolution.

Managing Director of the plant, Zaviyalov Dmitriy, acknowledged the challenges that have hindered the revival of the plant. He revealed that the management has maintained a staff of about 108 people to preserve the plant's infrastructure and equipment in preparation for its overhaul and eventual restart.

The facility tour continued with a technical session between the Ministry's Directors and ALSCON's management, where they discussed the current status of the plant and explored solutions to resolve the existing bottlenecks, aiming to facilitate a swift resolution.