Nigeria’s Steel Dream Fails? Dangote Predicts Ajaokuta Will Never Work- Reason

Aliko Dangote, President of the Dangote Group, has stated that he believes the Ajaokuta steel company will never succeed.

In a video shared by TVC on Tuesday, September 16, the billionaire emphasized the critical role of a thriving steel industry in national development but expressed doubts about Ajaokuta’s potential.

He compared attempts to revive the steel company to trying to match outdated technology with modern advancements.

“There is no nation you can build without a steel industry, and honestly, Ajaokuta will not work. We can keep deceiving ourselves and being passionate about it, but it’s not possible,” Dangote said. “It’s like those Volkswagen Igala vehicles we used to produce. If you bring Igala now, would you compare it to today’s Kia? No. Things have changed.”

He stressed the importance of adapting in a rapidly evolving world. “Things have changed, and all of us must change, or we risk becoming obsolete.

Trying to make Ajaokuta work is like bringing someone from a graveyard or a dying patient to run a 100-meter race—it’s simply impossible,” he added.

The Ajaokuta steel plant in Kogi State was constructed between 1979 and the mid-1990s but was never completed and has never operated efficiently, despite interventions by successive governments.