The President and Chief Executive Officer of Dangote Refinery, Aliko Dangote, has cast doubt on the viability of the Ajaokuta Steel Company, insisting it will never function as intended.
In a video shared on social media, Dangote underscored the importance of a strong steel industry in nation-building but stressed that Nigeria must adapt to changing realities instead of holding onto outdated hopes.
“There is no nation that you can build without a steel industry and honestly within us here, Ajaokuta Steel Company will not work,” Dangote stated.
“We can keep deceiving ourselves and being passionate about it, but it’s not possible.”
To illustrate his point, he compared Ajaokuta’s outdated model to obsolete car brands once produced in Nigeria, such as the Volkswagen Igala, which he said cannot be compared with modern vehicles like Kia.
Sharing an experience in Italy, he highlighted how innovation and adaptation drive global progress, citing the affordability and efficiency of Tesla electric cars despite high energy costs abroad.
“Things have changed and all of us have to keep changing or you will become archaic,” he added, warning against clinging to obsolete projects.
Dangote further noted that Nigerians often hold on to unrealistic expectations, likening it to “going to graveyards to wake the dead” or asking someone on their dying bed to run a race.
His comments come as debates around the revival of Ajaokuta Steel Company resurface, with stakeholders calling for urgent reforms in Nigeria’s steel sector to meet industrial needs.
