President Bola Ahmed Tinubu on Friday in Abuja said the federal government would ensure that investments in key sectors of the economy follow clear timelines and are impactful on the lives of citizens.
The president said this when he received the management of the Aluminum Smelter Company of Nigeria (ALSCON) led by its chairman, Alexey Arnautov, at the State House.
He said the government was keen on reviving the smelter company in Ikot Abasi, Akwa Ibom state.
“It is good to have you at this meeting. Smelter is necessary for the development of the country,” he said.
The president emphasised the need for clear vision and detailed plans in the steel and energy sector, adding that “there must be timelines.”
The president directed the Minister of Steel Development, Prince 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.
In his remarks, the chairman of ALSCON assured the president of the preparedness of the management to turn around the fortunes of the company within a given period by injecting $500 million.
He said the management was aware of the centrality of aluminum in modern development, particularly for Nigeria, and would continue to support the growth of the country.