President Bola Tinubu has announced that the Federal Government will ensure investments in key economic sectors, following clear timelines and have a tangible impact on the lives of citizens.
He stated this during a meeting at the State House with the management of the Aluminium Smelter Company of Nigeria, led by Chairman Alexey Arnautov.
Special Adviser to the President on Media and Publicity, Ajuri Ngelale, confirmed this directive in an official statement on Friday.
“It is good to have you at this meeting. Smelter is necessary for the development of the country,” President Tinubu said.
He emphasised the importance of a clear vision and detailed plans in the steel and energy sectors, underscoring that “there must be timelines.”
During the meeting, Arnautov assured the President of ALSCON management’s commitment to reviving the smelter company in Ikot Abasi, Akwa Ibom State, with a substantial investment.
“We are prepared to turn around the fortunes of the company within a given period by injecting $500 million,” Arnautov stated,
as he highlighted the central role of aluminium in modern development and affirmed their support for Nigeria’s growth.
In response, President Tinubu directed the Minister of Steel Development, Shuaibu Audu, and the Special Adviser to the President on Energy, Ms. Olu Verheijen, to review and provide an update on the status of ALSCON.
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