Aliko Dangote, President of the Dangote Group, says he believes that the Ajaokuta steel company will never work. The billionaire businessman said this in a video shared by TVC on Tuesday, September 16. He emphasised the importance of a thriving steel industry for national development, but said he does not believe Ajaokuta Steel Company would become a success.
He likened attempting to revive the steel company to comparing outdated technology with modern advancements. He said, “There is no nation that you can build without a steel industry, and honestly, within us here, Ajaokuta will not work. We can keep deceiving ourselves and keep being passionate about it, but it’s not possible.
“It's like you now, if you remember those vehicles we used to produce from Volkswagen (Igala), if you bring Igala now, would you now compare it to the current Kia. No, things have changed.
He emphasised the need for adaptation in a rapidly evolving world. “Things have changed, and all of us have to keep changing, or you will become archaic. You have to change, now, when you carry something like Ajaokuta, is like going to the graveyard to bring a dead person, or you go to the hospital to bring somebody who is on their deathbed to come and run 100 metres. It’s totally impossible,” he added. The steel company, located in Ajaokuta, Kogi State, was built between 1979 and the mid-1990s. It was not completed and has never operated optimally despite the efforts of different governments.