President of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has ruled out hopes of reviving the long-abandoned Ajaokuta Steel Complex, saying the project has been overtaken by global technological advances.
Speaking with journalists Dangote stressed that while no country can achieve industrialisation without a strong steel sector, Ajaokuta’s chances of functioning were “bleak”.
“The steel we are talking about, we will definitely look at opportunities to do that. There is no nation you can build without steel. But honestly, Ajaokuta will not work. We can keep deceiving ourselves and being emotional about it, but it’s not possible,” he said.
Established in 1979 as Nigeria’s flagship industrial project, the Ajaokuta Integrated Steel Complex was designed to include a metallurgical plant, engineering hub and allied facilities.
More than four decades on, however, the multi-billion-dollar project remains dormant amid allegations of corruption, policy reversals and mismanagement.
Although President Bola Tinubu approved the restart of its light steel section in January 2024 following investment pledges from India’s Jindal Steel Group, Dangote said the project belongs to the past.
He also cautioned African nations against adopting outdated industrial projects and depending on imports that weaken domestic industries.
“We must be careful, not only in Nigeria but across Africa.
People are importing poverty into our nations and exporting jobs out, even as we have the fastest-growing population in the world,” he warned.
