President and Chief Executive Officer of Dangote Refinery, Aliko Dangote, has expressed strong doubts about the revival of the Ajaokuta Steel Company, saying it is no longer viable in today’s world and that Nigeria must stop deceiving itself about its prospects.
In a video making rounds on social media, Africa’s richest man said no nation can be built without a steel industry, but insisted that Ajaokuta, in its current state, cannot work.
“There is no nation that you can build without a steel industry and honestly, within us here, Ajaokuta Steel Company will not work,” Dangote said.
“We can keep deceiving ourselves and keep being passionate about it, but it’s not possible.”
Dangote stressed the need for Nigeria to adapt to changing times and move away from outdated projects and systems that no longer meet global standards. Drawing comparisons, he recalled older Nigerian-made vehicles like the Volkswagen Igala, suggesting they no longer hold up to modern innovations.
“It’s like those vehicles we used to produce for Volkswagen, Igala. If you bring Igala now, will you compare it with the current Kia? No,” he said.
He recounted a recent experience in Italy, where his assistant booked an Uber ride that turned out to be a Tesla electric vehicle, underlining the global shift toward clean and efficient technology.
“I asked the driver how much it costs to fully charge. He said about €20 to run 500km. Things have changed, and all of us have to keep changing or we’ll become archaic.”
Using strong imagery, Dangote compared efforts to revive obsolete industries to “bringing someone from their deathbed to run 100 metres”, stressing the futility of clinging to outdated infrastructure and ideas.
Dangote’s remarks come at a time when the Nigerian government has been considering options to revitalise the moribund Ajaokuta Steel Mill, once hailed as the bedrock of Nigeria’s industrialisation. His comments suggest that the focus should now shift to more modern, sustainable industrial strategies.
In a lighter moment, he joked about Nigerians’ unique approach to air travel:
“I love Nigerians because it’s only Nigerians who would rush to the airport without having a confirmed booking, and they would make so much noise.”
While his remarks have sparked mixed reactions online, many industry observers agree that Dangote’s position reignites the long-standing debate over whether to revive Ajaokuta or move on to more forward-looking industrial solutions.
