Pages: (112-130 )
Abstract
The Aluminium Smelter Company of Nigeria was established with sole purpose of producing secondary aluminium materials for local and foreign markets. The research is motivated by the flooding of the Nigerian local markets with cheap and substandard secondary aluminium materials mainly imported from the mainland China and other Asian countries. Why is Nigeria still importing secondary aluminium materials despite huge investment in government owned Aluminium Smelter Company of Nigeria? How sustainable is the practice of importing secondary aluminium materials despite the clamour for the diversification of the Nigerian economy? Based on the findings made, the industry is currently performing below expectation of original vision for its establishment. The findings showed that there is lack of proper utilisation of the plant by the operators. This has paved way for the influx of substandard aluminium products into Nigerian markets. Also, lack of optimal utilisation of the plant slows down the pace of industrialisation in Nigeria considering the central role of aluminium cum steel industry to industrialisation of any country. Of course, unemployment rates keep widening daily in Nigeria due to the negative economic trends associated with this sector. There is dearth of written sources in this field of scholarship, nonetheless, published literature and oral interview which are secondary and primary sources served as methodologies employed in the writing of this paper. Factors responsible for this low performance were examined in details in this study. Also, recommendations were proffered which would be useful for concerned policy - makers that would benefit Nigeria's aluminum industry in the nearest future if strictly adhered to
Keywords: Aluminum, Economy, Industrialisation, Development, Nigeria,