As part of efforts to further boost power generation in the country and provide employment for Nigerian youths and professionals, the Federal Government has pledged the revival of the Rusal Aluminium Company of Nigeria (ALSCON), Ikot Abasi, Akwa Ibom State, by ensuring its connection to the national grid.

Minister of Power, Adebayo Adelabu, stated this during a working visit to the Company as he lamented 37 years of neglect, lack of alternative electricity supply, which he said has affected the country negatively.

Addressing the management, Adelabu promised a temporary solution that would see the company connected to the grid. The minister, while speaking on the long-abandoned Niger Delta Power Holding Company (NDPHC)-owned 330KVA substation in the community, said efforts would be made to ensure its completion within the shortest possible time.

“These huge investments by the country have suffered from lack of power supply in the last 27 years, as they have not been connected to the grid, and we are very much aware of the huge potential of an institution like this in the upstream, midstream and downstream conversion of aluminium, that can create a lot of employment for our teeming youths, that can also serve as a supplier of raw materials to every downstream aluminium company and save us huge foreign exchange for imports of these raw materials.”

The minister, however, said the Federal Government is taking crucial steps and is committed to making provision of electricity to the majority of Nigerians by 2030, in line with Vision 2030 Tanzania Declaration.

“Having appreciated this your wonderful efforts, I have come to visit the Company, to discuss with the owners of the company, and all the other stakeholders, the Transmission Company of Nigeria (TCN), the Niger Delta Power Holding Company (NDPHC) and all the contractors involved to devise an immediate solution to solve the power problem this Company has been facing.”

The minister also reiterated the relevance of the Company in the supply of raw materials to a lot of downstream aluminium companies, saying it will save Nigeria millions of dollars from foreign exchange.

He said, “We know the impact of this on our nation, on our Federal Reserve, and the impact of this on our Gross Domestic Product (GDP). So, it’s a company that we believe is going to add a lot to the fortune and prosperity of the country, and of the people of Nigeria.

Earlier, the development advisor ALSCON, Viacheslav Krylov, spoke on the challenges the Company has undergone with plans on the ground to achieve full production capacity of 200,000 MT and creating 15,000 direct and indirect employment for Nigerians.

According to Krylov, the plant would be at its peak at 540MW but is presently at 360MW as he appealed for an enhanced grid stability, dedicated backup power and the exploration of strategic power purchase agreements (PPAs) to ensure the plant’s long-term operational and financial stability.

“The current energy options at the plant are completely inadequate to restart the plant. Of significant importance is the wheeling of excess power generation to the grid from ALSCON. This would improve the daily national grid capacity and revenue generation for the company’s sustenance,” Krylov said.

Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (Syndigate.info).