‘FG to revitalise ALSCON, Ajaokuta company soon’

0
702

The Minister of Mines and Steel Development, Mr Kayode Fayemi on Tuesday updated President Muhammadu Buhari on state of Ajaokuta Steel Company in Kogi and the Aluminium Smelting Company ( ALSCON ) in Ikot Abasi.

Nigeria’s only aluminium smelting plant, ALSCON, was shut down in 2014 following crippling protests embarked upon by the company’s staff against poor working conditions, dwindling productivity and spiralling debts.

The management of ALSCON, Russian aluminium giant, United Company RUSAL PLC, dismissed almost all local personnel of its workforce.

Fayemi told State House correspondents that the meeting with Buhari was to update him on the companies level of development towards bringing them back to life.

He revealed that a definitive solution to the sale of Aluminium Smelting Company was being canvassed through the efforts of Vice-President Yemi Osinbajo.

Cue in audio – Fayemi

“The president asked for an update on Ajaokuta and the Aluminum Smelting Company in Ikot Abasi. I came to brief Mr. President on the development to ensure these companies are back to life.

“I told him about the efforts that Mr. Vice President was leading, on ensuring that we have a definitive solution to the sale of Aluminium Smelting Company in Ikot Abasi, and that we also move forward in the resolution and agreement reached on Ajaokuta Steel so that we get ready for the second concessioning.

“We have appointed an Adviser; we have appointed a new leadership there because the term of the last leadership has expired. Those were the things we updated Mr. President on.’’

Cue out audio – Fayemi

The minister stated that the government was emphasizing solid minerals development as a vehicle for diversification of the nation’s economy.

He added that mineral resources had contributed significantly to the GDP and revenue.

“This year alone we have exceeded the target given to us. If you look at the Bureau of Statistics report you will see that the two sectors that have contributed immensely to the GDP is agriculture and solid minerals.

NAN

SHARE
Previous articleRCCG opens drug abuse rehabilitation centre
Next articleFG to release proceeds of N100bn Sukuk bond to Fashola’s Ministry
Godwin Okafor is a financial journalist, Internet Social Entrepreneur and the Founder Naija247news Media Ltd He has over 16 experiences in journalism, which cuts across traditional and digital media. He started his journalism career in Business Day, Where he was a senior editorial graphic artist, before he left to start Naija247news, An Online Financial Newspaper in 2010. He has won series of awards and he is the chairman of Emmerich Resources Limited, the publisher of Naija247news.com and also sits on the board of Students In Business Awards, (SIBA).

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.