ABUJA, Nigeria – Africa’s richest man, Aliko Dangote, has declared that Nigeria’s long-delayed Ajaokuta Steel Complex may never work, warning that global technological shifts have overtaken the 45-year-old project.
Speaking on Tuesday in an interview with journalists, the President of Dangote Petroleum Refinery said Nigeria cannot industrialise without steel but insisted that Ajaokuta’s revival remains impossible.
“We can keep deceiving ourselves, but Ajaokuta will not work. Honestly, it’s not possible,” Dangote said.
Conceived in 1979 as Africa’s largest steel plant, Ajaokuta was meant to host a metallurgical process plant, engineering complex, and auxiliary facilities.
Instead, it has become a symbol of billions of dollars lost to corruption and mismanagement.
In January 2024, the Tinubu administration announced the restart of the light steel section after India’s Jindal Steel Group pledged $5bn investment. But Dangote argued Nigeria must look beyond outdated industrial dreams.
“Africa must avoid becoming a dumping ground for obsolete projects. People are importing poverty into our nations and exporting our jobs out,” he cautioned.
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