The abandoned Ajaokuta Steel Complex may never be completed, according to Alhaji Aliko Dangote, president of Dangote Petroleum Refinery, who maintains that the project has been surpassed by worldwide technological developments.
In a talk with reporters on Tuesday, Dangote emphasized that although no country can prosper without a strong steel sector, Ajaokuta’s future is still uncertain.
“We will definitely look at the opportunities of doing that,” the business tycoon stated in reference to the steel in question. Without a steel industry, no country can be established. Ajaokuta won’t work between us here, to be honest. We can continue to fool ourselves. We can continue to be enthusiastic about this. It isn’t feasible.
The Ajaokuta Integrated Steel Complex was conceived in 1979 with the intention of housing an engineering complex, a metallurgical process plant, and supporting facilities. But almost 45 years later, the multibillion-dollar project hasn’t taken off because of corruption and poor management.
Following talks with India’s Jindal Steel Group, which committed to investing $5 billion in a new steel project in Nigeria during the G20 meeting in New Delhi in September 2023, President Bola Tinubu reportedly approved the restart of the plant’s light steel section in January 2024.
Dangote went on to caution that Africa must not turn into a landfill for imports and antiquated industrial designs that impede the creation of jobs.
However, now that I think about it, we should exercise extreme caution throughout the African continent, not only in Nigeria. Because individuals are exporting our jobs elsewhere and bringing poverty into our countries. Additionally, we have the continent’s largest and fastest-growing population in the world,” he said.
