Business mogul and President of Dangote Refinery, Aliko Dangote, has poured cold water on hopes of reviving the Ajaokuta Steel Company, insisting that the project is a lost cause.
In a video trending on social media, Dangote stressed that no nation can be built without a strong steel industry but maintained that Nigeria must move beyond the long-abandoned Ajaokuta dream.
“There is no nation that you can build without a steel industry and, honestly, Ajaokuta Steel Company will not work,” he declared. “We can keep deceiving ourselves and being passionate about it, but it’s not possible.”
Using vivid analogies, the billionaire compared the steel firm to obsolete car models and outdated technologies, arguing that clinging to it is like “bringing someone from a dying bed to run 100 meters.”
He also highlighted how global industries have evolved, citing Tesla’s electric cars in Italy as an example of adaptation to modern realities. According to him, only constant innovation will prevent Nigeria from becoming “archaic.”
Dangote, however, lauded Nigerians for their resilience and unique character, joking about how only Nigerians would “rush to the airport without a confirmed booking and still make much noise.”
The remarks have sparked fresh debate over the fate of the multi-billion-dollar Ajaokuta Steel project, which has remained dormant for decades despite repeated government promises of revival.
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