FG to guarantee significant investments in the energy and steel sectors

According to President Bola Tinubu, the Federal Government would guarantee investments in important economic areas that adhere to precise deadlines and significantly improve the lives of Nigerians.

He made this statement at a meeting with the chairman Alexey Arnautov-led management of the Nigerian Aluminium Smelter Company at the State House.

Ajuri Ngelale, the President’s Special Advisor on Media and Publicity, affirmed this direction in a formal statement on Friday.

“Having you here at this gathering is a pleasure. Smelter is essential to the nation’s prosperity, according to President Tinubu.

He emphasized that “there must be timelines” and emphasized the significance of having a clear vision and comprehensive strategy in the steel and energy industries.

Arnautov gave the President assurances during the meeting about ALSCON management’s willingness to investing a significant amount of money to revive the smelter plant in Ikot Abasi, Akwa Ibom State.

“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 gave the Special Advisor to the President on Energy, Ms. Olu Verheijen, and the Minister of Steel Development, Shuaibu Audu, instructions to examine and report on the state of ALSCON.