By Muhammad Mamman
Africa’s richest man, Aliko Dangote, has dismissed prospects of reviving the long-moribund Ajaokuta Steel Company, describing it as outdated and unfit for modern demands.
In a video shared by TVC on Tuesday, the Dangote Group president stressed that while a strong steel industry is vital for national development, Ajaokuta’s obsolete technology makes its success impossible.
“There is no nation you can build without a steel industry. But honestly, Ajaokuta will not work. We can keep deceiving ourselves, but it’s like trying to bring a dying person to run 100 metres—it’s impossible,” he said.
Dangote likened the facility to defunct Volkswagen models compared to today’s modern vehicles, underscoring the need for constant adaptation in a rapidly evolving world.
The Ajaokuta Steel Company, located in Kogi State, was initiated in 1979 but has remained incomplete and largely dormant for over two decades. Despite repeated government interventions—including a $496 million settlement in 2022 with an Indian firm following a protracted dispute—the plant has never operated at full capacity.
