Nigeria Signs $1.2 Billion Aluminium Smelter Deal

Nigeria has entered into a $1.2 billion agreement with China's CNCEC and BFI Group to revive its dormant aluminium smelter in Akwa Ibom, a significant step toward enhancing the country's industrial capabilities. The investment will focus on resuscitating the 135MMscfd gas processing plant at the Aluminium Smelter Company of Nigeria (ALSCON), which has faced years of inactivity due to legal and financial challenges. Once operational, the facility is projected to produce up to one million tons of aluminium annually and generate 540 megawatts of electricity, significantly contributing to the nation's industrial and energy sectors. This initiative is expected to create jobs, stimulate economic growth, and reduce reliance on imported aluminium. Minister of State for Petroleum (Gas) Ekperikpe Ekpo emphasized that this partnership marks Nigeria's return to being a major player in the global aluminium market. The project reflects a growing trend of Chinese investment in African infrastructure, which could reshape the continent's economic landscape.