Nigeria’s aspiration of establishing a thriving aluminium industry faces prolonged setbacks as the $3.2 billion Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, remains inactive, missing yet another revival deadline.
Originally commissioned in 1999 with the objective of harnessing Nigeria’s abundant gas reserves to curb gas flaring and generate electricity for the smelter plant, ALSCON has been non-operational since 2007.
Initially slated for resumption in 2020, subsequent delays pushed the deadline to 2023, which now seems improbable to achieve.
The project has grappled with persistent delays, financial constraints, and contractual disputes spanning over two decades, with the most recent deadline being missed in the last quarter of 2023.
Despite assurances from Nigeria’s vice president, Kashim Shettima, and disclosures from Gabriel Aduda, permanent secretary of political and economic affairs, regarding agreements with Russian Aluminium Company – UC Rusal, a partner in the project, the revival remains elusive.
This latest setback has reignited skepticism among Nigerians, who question the project’s viability and its anticipated economic benefits, citing escalating costs, recurrent missed deadlines, and a lack of transparency as indicators of mismanagement and inadequate planning.
