The Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed optimism that the revival of the Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom State, will significantly enhance investor confidence and kick-start economic growth.

ALSCON, with a power plant of at least 180 megawatts (MW), has long been dormant due to mismanagement, inadequate gas supply, and ownership disputes. However, Ekpo, during a visit to China National Chemical Engineering Corporation (CNCEC) headquarters in Beijing, assured investors of strong returns on their investments.

Ekpo led a Nigerian delegation, including officials from BFIGroup of America, the core investor in ALSCON’s privatization. He praised BFIGroup, led by Dr. Reuben Jaja, for partnering with CNCEC to reactivate the plant, which has the potential to create jobs, boost aluminium production, and generate revenue for Nigeria. The Minister emphasized the Nigerian government’s commitment to supporting and protecting investments, noting that the project aligns with President Bola Tinubu’s economic policies.

The resuscitation of ALSCON is seen as a key driver for economic growth, providing employment and reducing the cost of aluminium in the country. Despite past challenges, including a long-standing ownership dispute between Rusal, a Russian firm, and BFIGroup, Ekpo assured that the government’s focus remains on restoring the facility to full operation, benefiting both the local economy and foreign investors.

Governor Umo Eno of Akwa Ibom State has taken decisive action to address the soaring food prices that have been causing distress among residents.

Through an executive order, Governor Eno has banned all market cartels, unions, and cabals, which have been identified as the primary drivers of hyper-inflation in major markets such as Akpan-Andem and Etuk Street Market in Uyo, as well as Itam International Market in Itu Local Government Area and other markets in Ikot Ekpene LGA.

The governor’s executive order is a response to the grievances of local traders and residents who have long suffered under the oppressive control of these market groups. Mrs. Mayen Etuk, a trader dealing in crayfish, fish, and other sea edibles, shared her frustration with the market unions.

According to Etuk, these unions have the power to dictate selling days and set prices for commodities, leaving traders with little control over their own goods. This lack of autonomy has led to significant financial losses, especially for those dealing in perishable items.

“Sometimes my goods will perish because there is no standby electricity to store them till the next market day that I would have my turn,” she lamented.

The fixed high prices imposed by the unions have also scared away customers, forcing traders to either take unsold goods back home or sell them at reduced prices in local markets, often at a loss.

This situation has exacerbated the financial strain on traders and contributed to the overall inflation in the region.

The unchecked activities of these market groups have led to significant price hikes across various staple foods. For instance, garri, a common staple food, now sells for N200 per cup, beans for N500 per cup, and rice for N400 per cup. Other food items, including pepper, periwinkle, vegetables, and condiments, have seen price increases averaging over 200%.

Governor Eno’s executive order aims to dismantle these exploitative market unions and restore fairness in the marketplace.

To ensure the directive is implemented effectively, the governor has tasked the state traders’ association, led by Senior Special Assistant on Market Matters, Akparawa Idorenyin Raphael, with ending the unions’ practices.

To reinforce this mandate, the state market monitoring team has undertaken an assessment tour of several markets, including Urua Akpan Andem and Urua Mbakara in Uyo, and other markets in Ikot Ekpene.

This proactive approach is designed to enforce the executive order and prevent the unions from continuing their harmful activities.

Residents like Mrs. Etuk have welcomed the governor’s intervention but have called for the establishment of a task force to ensure the directive is enforced effectively.

They fear that without stringent enforcement, the unions and profiteers will continue their exploitative practices.

Governor Eno’s executive order represents a critical step towards restoring fair market practices in Akwa Ibom State. By dismantling the market unions and ensuring compliance through regular monitoring, the government aims to reduce food prices and alleviate the financial burden on its residents.

This move is expected to bring much-needed relief to the people of Akwa Ibom, fostering a more equitable and prosperous market environment.

Akwa Ibom State has announced plans to collaborate with Bertola Machine Tools Limited to enhance food production in the state through mechanized farming, aligning with the agricultural revolution goals of the state government’s ARISE Agenda.

Governor Umo Eno revealed this during a visit to the premises of Bertola Machine Tools Limited located at Ifa Atai, Airport Road, Uyo, where he conducted a facility tour and inspected purpose-built machines and tools for agricultural activities over the weekend.

Governor Eno emphasized the significance of the partnership, stating that as part of the state government’s efforts to achieve food sufficiency, plans were underway to establish equipment leasing services to make essential machines available and accessible to farmers. He praised Bertola as a reliable partner in this endeavor.

Acknowledging Bertola’s longstanding reputation for integrity and consistency in the equipment and machinery industry across the nation, Governor Eno commended the company’s commitment to excellence over the years.

The governor directed the Commissioner for Agriculture, Dr. Offiong Offor, and her counterparts in Works and Fire Service, Professor Eno Ibanga, to collaborate on developing modalities for the government’s partnership with Bertola Machine Tools Limited, ensuring that farmers in the state have access to machines for basic farm operations.

In his remarks, Albert Inyang, the Managing Director and Chief Executive Officer of Bertola Machine Tools Limited, commended Governor Eno for his genuine commitment to improving the lives of the people of Akwa Ibom State through impactful projects and programs.