Dangote: Ajaokuta Steel Company will not work, We can keep deceiving ourselves & keep being passionate
According to an Interview by TVC news, Africa’s richest man and Chairman of the Dangote Group, Aliko Dangote, has cast doubt on the future of Nigeria’s long-abandoned Ajaokuta Steel Company, insisting that the project is no longer feasible.
Speaking on the sidelines of an industry forum, Dangote bluntly declared that despite decades of promises and billions of naira sunk into the plant, Nigerians must face the reality that Ajaokuta may never deliver the dream of industrial revolution once attached to it.
“Ajaokuta Steel Company will not work. We can keep deceiving ourselves and keep being passionate about it, but it’s not possible,” Dangote stated. His remarks challenge the long-standing narrative by successive governments that the steel complex holds the key to unlocking Nigeria’s industrial and infrastructural growth.
Located in Kogi State, Ajaokuta Steel was initiated in the late 1970s with the vision of making Nigeria self-sufficient in steel production. Decades later, the plant remains incomplete, with repeated attempts at revival failing to yield results.
Dangote, who has built one of Africa’s largest conglomerates spanning cement, sugar, and petroleum refining, argued that the global steel market has moved far ahead, and Nigeria’s attempts to resurrect Ajaokuta may simply be chasing shadows.
He stressed that Nigeria should instead redirect its focus toward realistic and competitive ventures in manufacturing and infrastructure, rather than pouring scarce resources into a project that has been riddled with corruption, mismanagement, and outdated technology.
According to him, the plant’s design and equipment, conceived in the 1970s, are now obsolete and may cost more to upgrade than to start afresh with modern alternatives.
Dangote’s comments have already sparked reactions among industry stakeholders. Some agree that it is time for Nigeria to accept the hard truth and pursue new models of industrialization, while others insist that abandoning Ajaokuta would represent a betrayal of national aspirations.
For decades, politicians have campaigned on promises to revive the steel plant, often portraying it as the backbone of Nigeria’s economic transformation. Yet, despite repeated interventions, not a single bar of steel has rolled out of its facilities.
Dangote concluded by urging policymakers to confront reality with courage: “We must stop deceiving ourselves. The future of Nigeria’s industrial growth lies not in outdated dreams, but in innovative, competitive, and forward-looking projects.”
COURTESY: chimex9ja
