The Federal Government on Tuesday said it had finally commenced moves
to resolve the over 13-year-old crisis over the sale of the $3.2
billion Aluminium Smelter Company of Nigeria, ALSCON, Ikot Abasi, Akwa
Ibom State.
The Minister of Mines and Steel Development, Kayode Fayemi, told
State House correspondents at the end of his meeting with President
Muhammadu Buhari in Abuja that the government was committed to bringing
ALSCON and Ajaokuta Steel Company back to life.
“I came to brief Mr. President on the efforts that Mr. Vice President
has been leading to ensure we have a definitive solution to the sale of
the Aluminum Smelting Company (of Nigeria) in Ikot Abasi,” Mr. Fayemi
said.
“We also moved forward in the resolution and agreement reached on
Ajaokuta Steel so that we get ready for the second concessioning,” he
added.
Mr. Fayemi did not give details of what was being done to resolve the dispute over ALSCON.
There are two orders of the Supreme Court on the matter that the federal government had refused to obey.
The minister, however, said a technical adviser has been appointed
for the concession of Ajaokuta Steel Company, while a new management has
been put in place following the expiration of the tenure of the
previous leadership.
The latest move to resolve the ALSCON crisis is coming more than five
years after the Supreme Court’s definitive ruling on July 6, 2012 after
more than eight years of tussle over ownership of the plant.