Dangote Drops Bombshell: “Ajaokuta Steel Will Never Work — Nigeria Must Stop Deceiving Itself”

Nigeria’s decades-long dream of becoming a steel-producing giant through the Ajaokuta Steel Company has suffered a damning blow after Africa’s richest man, Aliko Dangote, declared the project a dead end.

In a candid interview with TVC News, the billionaire industrialist and Chairman of the Dangote Group dismissed the viability of the long-abandoned steel complex, describing it as “a passion-driven deception” that Nigerians must finally let go of.

> “Ajaokuta Steel Company will not work. We can keep deceiving ourselves and keep being passionate about it, but it’s not possible,” Dangote stated firmly.
His remarks stand in stark contrast to decades of political rhetoric, where successive governments have repeatedly promised to revive the project, portraying it as the backbone of Nigeria’s industrial revolution.

Conceived in the late 1970s and situated in Kogi State, Ajaokuta was meant to transform Nigeria into a steel-producing powerhouse, fueling infrastructural and industrial development. However, nearly half a century later — and after billions of naira in investments — not a single bar of steel has rolled off its assembly line.

Plagued by corruption, mismanagement, and outdated Soviet-era designs, the project has become a symbol of Nigeria’s failed industrial ambitions. Dangote, whose empire spans cement, sugar, and oil refining, argues that the global steel market has left Nigeria behind.

> “The plant’s design and equipment were conceived in the 1970s. They are now obsolete. It will cost more to revive than to build an entirely new, modern alternative,” he stressed.

Dangote’s blunt assessment has sparked debate among industry watchers. Some stakeholders echo his stance, urging the government to redirect scarce resources to more realistic ventures. Others, however, insist that abandoning Ajaokuta would represent a betrayal of national pride and aspirations.

For many Nigerians, the steel plant is more than an industrial facility — it is a political promise turned national myth, resurrected during almost every election cycle.

Dangote concluded by challenging policymakers to abandon illusions and embrace innovation.

> “We must stop deceiving ourselves. The future of Nigeria’s industrial growth lies not in outdated dreams, but in innovative, competitive, and forward-looking projects.”

His verdict adds fresh urgency to a national dilemma: Should Nigeria continue chasing the ghost of Ajaokuta Steel, or finally bury it and chart a new industrial path?