LordAdam7:


That's your argument.

An argument that is fueled by many others who think this project would end differently than it did before, despite the project being run by a government that is just as bad, if not worse, than earlier administrations in project handling.

The point is that since we don't have a government that can ensure judicious use of this money on this project, then how are we sure they've made enough research to conclude that revamping the industry is the best use of that money now?

Governments all over the world often initiate and complete some primarily solely for political and populism reasons. Not really because it's the best economic decision. But these governments get a pass because they don't bloat said projects shockingly or downright fail at executing or running these projects like our government is famous for.

It's why the argument is a non-issue.

Does Nigeria need loads of steel at this point in our history? YES.

Should we have a few steel plants despite the international glut? YES. Not all projects should require shipping steel from China. We can use the local content law to support a medium-sized steel industry that employs people, pay taxes, and fuel industrialization. It keeps money within the country.

Should we spend billions of Naira on an inefficient moribund 40-yr old steel plant with WW2-era technology, that has never worked, and from glaring indications will never work as intended, by a frustratingly wasteful government, while in a recession? HELL NO.

So, I don't see the argument here. The government shouldn't be revamping Ajaokuta Steel at this time. Plain and simple.

If we are talking about have a nascent steel industry, then there are several more ways to do that effectively, without/than throwing money into a hole.

-Lord

Please go back to my post u mentioned...
I've expanded it n provide feasible solution.....

LordAdam7:


That's your argument.

An argument that is fueled by many others who think this project would end differently than it did before, despite the project being run by a government that is just as bad, if not worse, than earlier administrations in project handling.

The point is that since we don't have a government that can ensure judicious use of this money on this project, then how are we sure they've made enough research to conclude that revamping the industry is the best use of that money now?

Governments all over the world often initiate and complete some primarily solely for political and populism reasons. Not really because it's the best economic decision. But these governments get a pass because they don't bloat said projects shockingly or downright fail at executing or running these projects like our government is famous for.

It's why the argument is a non-issue.

Does Nigeria need loads of steel at this point in our history? YES.

Should we have a few steel plants despite the international glut? YES. Not all projects should require shipping steel from China. We can use the local content law to support a medium-sized steel industry that employs people, pay taxes, and fuel industrialization. It keeps money within the country.

Should we spend billions of Naira on an inefficient moribund 40-yr old steel plant with WW2-era technology, that has never worked, and from glaring indications will never work as intended, by a frustratingly wasteful government, while in a recession? HELL NO.

So, I don't see the argument here. The government shouldn't be revamping Ajaokuta Steel at this time. Plain and simple.

If we are talking about have a nascent steel industry, then there are several more ways to do that effectively, without/than throwing money into a hole.

-Lord

Mr wise man so this government should live the ajaokuta plant because u think they are bad Then when different people come again if u think they are also bad they should live it again for the next administration?? U make no sense at all . what about people that believe in this administration and want the ajaokuta steel plant to be revived there opinions makes no sense right U guys should bring good opinions not partisan opinions

4Play:


If there was a business case to produce steel in Nigeria, the private sector would have invested in this already. If the private sector don't see such a venture as viable, what makes you think our government possesses the expertise to invest wisely in this project? This country is 57 years old this year: can you name one single government run/funded business venture that has proved profitable - NITEL, Nigeria Airways, NEPA, the refineries, e.t.c.

The staggering thing about discussion with Nigerians is the triumph hope over evidence. No matter the weight of contradictory evidence, Nigerians continue to invest futile hope on government officials.

any bussiness case for building refineries? Power? Roads, Agric? why are private investors not transforming those sectors too? ... As an engineer we are trained to solve problems...not use foreign data to model what can be created in our enviromment.

Nalikedis:
any bussiness case for building refineries? Power? Roads, Agric? why are private investors not transforming those sectors too?

Government policies hinder productivity. Have you seen ease of doing business ranking of Nigeria. How about the economic freedom ranking. The government tried to monopolize industries failed then private sector comes to rescue inspite of government Tom foolery.

Infastrure is something we agree with. Their is already private investors doing those things you listed. The agric sector simply subsistence mode of production.


Let's take a simple example. Why does mining account for less than 1% of gdp. When every state has some decent resources. The Nigerian governments policies make it unattractive for miners. Thus stagnation of northern Nigeria who would benefit most from this.

Why did the railway end up in such bad shape. If they we re good shape maybe cattle would be transported by train instead of walked to market. The herdsmen would be able to collect higher margins. Less conflict with farmers.

michaelandre:
Mr wise man so this government should live the ajaokuta plant because u think they are bad Then when different people come again if u think they are also bad they should live it again for the next administration?? U make no sense at all . what about people that believe in this administration and want the ajaokuta steel plant to be revived there opinions makes no sense right U guys should bring good opinions not partisan opinions

Chief. Everyone cannot be right. There are people who felt that NITEL should have been revived instead of sold off. These are some of the most patriotic Nigerians you'd have the pleasure of knowing. But they were wrong. Very wrong in fact, that you'd be sorely ashamed of their position if you had personal ties with them.

Millions of Nigeria were wrong about going against subsidy in 2012. They didn't realize until 2016.

Ajaokuta Steel is a reminder of some of the worst decisions we've made as a country, and you're saying because some people have some castle-in-the-sky dream of the plant being revived, we should keep dumping money into it without transparency and accountability.

What sort of mindless emotional blackmail is this? Can you hear yourself? So it doesn't matter if the money is wasted or not, you just want to doggedly cling to a false hope that a depressingly wasteful government will actually see this project through to completion with minimal money spent?

I can't believe a non-dysfunctional Nigerian adult is typing this balderdash on a public forum.

Whoever believes in this corrupt Administration to do anything more than hound political opponents and drive socialist policies is unreservedly INSANE. Because, it means such person is blind to all the cases of graft and antecedents of this government.

Even supposedly wasteful PDP governments realized that it was better to stay out of running business until there were strong institutions and measures to check graft. But Buhari without implementing any better institution or measure is running head-on into repeating old mistakes, hoping his now-demystified body language will make the project managers in Ajaokuta not to inflate figures, use substandard materials, or downright blow the money without trace.

Under the same President where the item for paying rent of Aso Rock is included in the budget two times in a row, and more than 40 million naira is budgeted for sewage? Right under his nose. Not in far away Ajaokuta but in Aso Rock, where he sleeps, f*cks, and works.

You have to be pathologically optimistic or completely incapable of using your brain to not see the non-viability of this project? I don't know which accurately describes you and the "others" that want this wastage to continue. I want to believe it's both.

-Lord

Blue3k:
Lol you guys should stop arguing with omohayek. Half of you dont read enough to come up with anything that's a reasonable counter to the cynical but logical critiques. Let me give it a crack for yall.


The government suck at running industry. It's complete ineptitude is why this plant and mining industry are abysmal shape. It would be better in private hands but the lack of cheap reliable energy needed for this intensive industry is not there and location isnt competive. Personally I think he's right about being cynical about Nigerian government ability to run plant.

Counter arguements why Nigeria could develop a vibrant steel industry if right inputs are there. We have access to cheap energy sources being hydroelectricand natural gas, there's lots of pet coke (if refining capacity is maxed), we can also use dormat coal sitting at low opportunity cost, we have iron ore and ecowas partners who export lots cheaply, there's also importation from other sources.

Let's talk about energy. Since its biggest hindrance to private sector taking crack at industry. This is also why Akwa Ibom aluminum plant is also not in operation. (Aluminum takes more energy than steel). Nigeria produces energy at low marginal cost cimparted to our neighbors. We have potential for Direct reduced iron plants as well. Thanks to natural gas availability.


I see there's plenty of competition to be had with China depending how we go about it. We could imports or we could allow industry to flourish with private investment.
There's still big challenges Nigerian government hasn't done as in fix non sexy issues like infastrure being transport, electricity, and business environment.

Ps: 1st picture is Steel exports by country, 2nd pictures is Stainless steel, 3rd picture is iron or exports by country.


Sources: https://www.google.com/url?sa=t&source=web&rct=j&url=https://www.worldsteel.org/en/dam/jcr:1be0ae12-d2f2-4925-b610-2d1152260e65/fact_raw%2Bmaterials_2016.pdf&ved=0ahUKEwiR6Jaj-bTRAhXk54MKHZN2AD0QFggaMAA&usg=AFQjCNHWki6KkZ_ejVu6daZIXkyxQA3_Zg

https://www.worldcoal.org/coal/uses-coal/how-steel-produced

http://atlas.media.mit.edu/en/profile/hs92/7225/

https://www.google.com/url?sa=t&source=web&rct=j&url=http://www.mckinsey.com/~/media/McKinsey/Global%2520Themes/Americas/US%2520game%2520changers/MGI_US_game_changers_Executive_Summary_July_2013.ashx&ved=0ahUKEwi-r73xhbXRAhUC74MKHaTnBJoQFggcMAE&usg=AFQjCNGwXXqQBvfv99eXTAnJ2whHvvWFyQ

The China steel you loved so much and you want us to focus on buying...are they allowed to flourish with private investment? Or Chinese government invested into it. Or maybe they are even just extracting steel in China so no need to invest into processing of iron ore... Abi we are just being stupidly suggesting market model that has made US debt grow to $19 trillion from $5 trillion in less than 10 years.

Nalikedis:
any bussiness case for building refineries? Power? Roads, Agric? why are private investors not transforming those sectors too? ... As an engineer we are trained to solve problems...not use foreign data to model what can be created in our enviromment.

I'm appalled to know that you're an Engineer and you're asking a question I expect to hear from market women and artisans?

About Refineries, have you heard about Dangote Refineries?

About Power, the only 2 coal electricity generation plants under construction in Nigeria are being constructed by the Private sector?

About Roads, how many Nigerians are prepared to start paying toll? It's a hotly contested topic, so until the polity accepts that toll is an acceptable alternative to cut the deficit in our road network, don't expect the private sector to swoop in. It's business not charity.

About Agric, again have you heard about Dangote Tomatoes, Erico tomatoes (that the senile President forced out of Nigeria), the many rice milling companies et cetera?

Maybe you should try gleaning more information than regurgitate fallacies. It's not all about what you studied during one 5-yr period of your life.

-Lord

Nalikedis:
The China steel you loved so much and you want us to focus on buying...are they allowed to flourish with private investment? Or Chinese government invested into it.

Who told you I love china? Stop making strawmen arguements. Second most Chinese state own enterprises are inefficient. 3rd the debt the loaded up on has consequences. Market solutions work better than being poor Chinese peasant.

Nalikedis:
Or maybe they are even just extracting steel in China so no need to invest into processing of iron ore... Abi we are just being stupidly suggesting market model that has made US debt grow to $19 trillion from $5 trillion in less than 10 years.

I listed why Nigeria has potential to make steel dunce. The market model didn't make USA debt grow it was entitlement spending and wars.

The market model has created more wealth than any other system. The richest countries have high degrees of economic freedom.

https://www.google.com/amp/s/amp.ft.com/content/253d7eb0-ca6c-11e5-84df-70594b99fc47?client=ms-android-hms-tmobile-us

SIRTee15:


Please go back to my post u mentioned...
I've expanded it n provide feasible solution.....

Read it, and the solution is brilliant.

I don't think u r saying anything different from what most of us have said. Those that said we do not need a steel industry (government-driven) were just being insincere.

The consensus is that the government should not be the sole driver, financier, and manager of the project, else it'd end badly, like it has every time in the past.

There are many viable alternatives like the one you suggested. But here we are already spending N7.9b, and someone wants us to be cheerleaders, when clearly we're been fleeced again. Right before our very eyes.

-Lord

Alezy:
NO one ever talks of Delta Steel Company which is bigger and far better than this Ajakuta

Bros nothing beats ajaokuta biko. The nation of Japan the king of steel builders said abt ajaokuta steel: WE HAVE NEVER SEEN THIS KIND *NOT TYPE* OF STEEL. Has that been said of delta steel? Bottom line is these leaders that have plundered us as a nation would not want this type of projects/infrastructure to see the light of day. Boils down to SABOTAGE! When prof sam aluko was askd what he would as minister of finance,he answered CUT ALL TIES WITH THE IMF/WORLD BANK WE DONT NEED THEM. That is the answer to the sabotage we are enduring as a nation.

Absolute lies.

LordAdam7:


Chief. Everyone cannot be right. There are people who felt that NITEL should have been revived instead of sold off. These are some of the most patriotic Nigerians you'd have the pleasure of knowing. But they were wrong. Very wrong in fact, that you'd be sorely ashamed of their position if you had personal ties with them.

Millions of Nigeria were wrong about going against subsidy in 2012. They didn't realize until 2016.

Ajaokuta Steel is a reminder of some of the worst decisions we've made as a country, and you're saying because some people have some castle-in-the-sky dream of the plant being revived, we should keep dumping money into it without transparency and accountability.

What sort of mindless emotional blackmail is this? Can you hear yourself? So it doesn't matter if the money is wasted or not, you just want to doggedly cling to a false hope that a depressingly wasteful government will actually see this project through to completion with minimal money spent?

I can't believe a non-dysfunctional Nigerian adult is typing this balderdash on a public forum.

Whoever believes in this corrupt Administration to do anything more than hound political opponents and drive socialist policies is unreservedly INSANE. Because, it means such person is blind to all the cases of graft and antecedents of this government.

Even supposedly wasteful PDP governments realized that it was better to stay out of running business until there were strong institutions and measures to check graft. But Buhari without implementing any better institution or measure is running head-on into repeating old mistakes, hoping his now-demystified body language will make the project managers in Ajaokuta not to inflate figures, use substandard materials, or downright blow the money without trace.

Under the same President where the item for paying rent of Aso Rock is included in the budget two times in a row, and more than 40 million naira is budgeted for sewage? Right under his nose. Not in far away Ajaokuta but in Aso Rock, where he sleeps, f*cks, and works.

You have to be pathologically optimistic or completely incapable of using your brain to not see the non-viability of this project? I don't know which accurately describes you and the "others" that want this wastage to continue. I want to believe it's both.

-Lord

I don't like people that always think everything is partisan so because u don't like bihari u won't surport him on reviving ajaokuta steel plant Why are u guys this way? So now this plant should be left to die because u think he will not use the money well See am not here to compare gej to buhari if that's what u wanna do am not buying into it . all that matters to me is Nigeria and the Nigerian people whether Igbo, ijaw, Yoruba , Edo e.tc

ZoneBslayer:

you're a wise and knowledgeable person.. unlike the myriad of political e-goons littered around here..exactly what I said in my earlier post..the blueprint of that steel facility was decommissioned as far back as the 1950s..just after the second world war..yet they keep pumping money into it just to steal it back...the previous administration realized this and wanted to sell of that money guzzling obsolete facility but as usual, ignorant Nigerians started screaming foul..

If the plant is obsolete and therefore useless you think anyone will find value in buying it.

vodutive:



Like I said you are ignorant, there are many inefficient domestic industries that are kept alive by countries around the world for the simple reason that they have a multiplier effect on the rest of the economy. Tomorrow idiots like you will complain we import toothpicks and nails.

Ask them to name any country except those with huge minerals relative to population that became advanced by importing almost everything because you can't make profit in local production.
A common case is the machine tool industry that is struggling with low profit but the industries that uses its products like automobile, toys etc are multi billion and highly profitable. The knowledge developed by workers in machine tool industry is invaluable in other industry, now imagine ignoring the resource base because there's no profit, and outsource it to China, Singapore, we will be at their mercy for ever

michaelandre:
I don't like people that always think everything is partisan so because u don't like bihari u won't surport him on reviving ajaokuta steel plant Why are u guys this way? So now this plant should be left to die because u think he will not use the money well See am not here to compare gej to buhari if that's what u wanna do am not buying into it . all that matters to me is Nigeria and the Nigerian people whether Igbo, ijaw, Yoruba , Edo e.tc

This is not about GEJ versus Buhari.

This is about wasteful governments throwing money into bottomless pits. This is what patriotism is about. Making sure Nigeria's money is not wasted frivolously.

GEJ stopped spending money frivolously on Power, many sane Nigerians saw reason in that. Of course, the partisan ones said it was a wrong decision.

Now, the same argument has come up again under a different government and the two sides have drawn swords, whereas the conditions have not changed. So if you are looking at this from a partisan viewpoint, you shouldn't.

Politicians are in for the short haul. The people in it for the long haul are you and me and our kids who'd have to pay taxes and have no alternative to the terrible situation of the country. So, don't expect the politicians to always have you in their best interest. They only know how to spend. Our job is to make sure they spend the money dutifully. Instead of them to waste it, let them not spend it at all.

When there is transparency and accountability, we can talk about full government participation. For now, we should explore any other alternative, even public-private sector partnership like SIRTee15 suggested is welcome.

-Lord

AZeD1:

No you cannot kick-start other industries because nobody would buy your steel.
Nigeria should be moving towards our competitive strengths not trying to capture the lost decades.

We should be spending any spare money on our power infrastructure and not on reviving dead steel mills.

Anybody who wants to open a steel mill is free to do so but government money should not be used.
PS: Tata is about to sell it's steel mill in the UK because it makes no business sense and that is in a country with light, and transport infrastructure.

What chances does Ajaokuta have?

we have the entire west African market. just like we do cement and fuel (illegal exports thougj)

Flaghouse1:


Omohayek,
I quite agree with your postulation above,in reality most of the developed economy we try to emulate today are not really making much from steel production,but in technology,drug development ,software development ,manpower development et al.we are no longer in. The industrial age but technological age where we think outside the box to acheive excellence.
The government realy needs to come up with radical solutions to improving power,roads,rail in the country to be able to increase our GDP without these there. Will be no small scale industries or enterprise developing in order to add to GBP and improve lives of the common man like me and you.Continous injection of scarce resources into the Ajaokuta project without a corresponding northward improvement in return will really be like putting water in a basket.
But our leaders are well read and travel outside why can't they implement some of the lofty projects ,ideas they see when they travel abroad

you can't jump to the technological age with first passing through the industrial age. The technological age relies on stable power, roboust communications networks and ability to machine or make tools (this requires steel).

I'm tired of reading Ajaokuta fraud news. Since I was born and now I'm getting old Ajaokuta has been a recycled failure in each respective government.

omohayek:

And people like you don't even bother to read books at all, yet you have no hesitation writing lots of nonsense. If you bothered to read a book or two, you'd know that
1. China's economy stagnated between 1949 and 1979, thanks to overwhelming government control. In the meantime, free-market Taiwan's economy boomed.
2. China's economic development since Deng Xiaoping endorsed liberalisation in 1979 has come from the private-sector, not the government-run bodies.
3. China's "state owned enterprises" are massively inefficient, and have run up gigantic debts - http://www.reuters.com/article/china-debt-moodys-idUSL3N1872L0

Anyone trying to use China, of all countries, as an example of how government control is a good thing, is laughably ignorant.

The rest of your write-up is equally ignorant and devoid of factual basis. Perhaps you should try the book-reading thing for a change.

Following your logic will it be a good or bad thing for government to invest in education and infrastructure like roads or wait for private investors to see profit before deciding on which course to encourage or the roads to construct?

Ovamboland:


Following your logic will it be a good or bad thing for government to invest in education and infrastructure like roads or wait for private investors to see profit before deciding on which course to encourage or the roads to construct?

He's just not with state owned corporations. He's said in other replies that he's cool with infastrure projects likes roads electricity railroads. He just wants more private sector involvement. The government has shown this project to be money pit of curruption. It's hard to see why this will be different.

omohayek:

By far the biggest return investments the Nigerian government could make would be in roads, railways and electricity, all of which would improve economic conditions for all sectors of the economy, but these areas don't have the strange sex appeal steel seems to hold for a lot of ignorant people.

AZeD1:

No you cannot kick-start other industries because nobody would buy your steel.
Nigeria should be moving towards our competitive strengths not trying to capture the lost decades.

We should be spending any spare money on our power infrastructure and not on reviving dead steel mills.

Anybody who wants to open a steel mill is free to do so but government money should not be used.
PS: Tata is about to sell it's steel mill in the UK because it makes no business sense and that is in a country with light, and transport infrastructure.

What chances does Ajaokuta have?

And the power infrastructure will be built with what? Cheap imported steel probably subsided by another more strategic thinking government, where they engaged their highly skilled steel workers while the steel workers trained abroad by Nigeria government are now riding Okada to survive.
The steel workers abroad go on to invent other things like Henry Ford cars who started as a steel worker while our own soon rises to become chairman of riders association.

BigBen10:


we have the entire west African market. just like we do cement and fuel (illegal exports thougj)

No we don't have the market, China does.

Can we provide the loans China is giving African countries?

Blue3k:


He's just not with state owned corporations. He's said in other replies that he's cool with infastrure projects likes roads electricity railroads. He just wants more private sector involvement. The government has shown this project to be money pit of curruption. It's hard to see why this will be different.

Can you appreciate the meaning of having Nigerian steel in those roads and bridge projects? Imagine the portion of the hundreds of billions spent last year that goes to imported steel, now envision the number of skilled steel workers maybe 50,000 kept busy making steel for our projects to be Nigerian. Even if loss making the real value is the home based knowledge that keeps improving than not even trying at all.
Can it be true to say since Britain experienced industrial revolution first it's not necessary for Germany, Japan, USA, to also industrialise?

Ovamboland:


Can you appreciate the meaning of having Nigerian steel in those roads and bridge projects? Imagine the portion of the hundreds of billions spent last year that goes to imported steel, now envision the number of skilled steel workers maybe 50,000 kept busy making steel for our projects to be Nigerian. Even if loss making the real value is the home based knowledge that keeps improving than not even trying at all.
Can it be true to say since Britain experienced industrial revolution first it's not necessary for Germany, Japan, USA, to also industrialise?

I'm not in total agreement with him on steel issue. I think if Nigeria got its act together in terms of infastrure. Sure we would be able to produce steel cheaply. We have the iron ore, pet coke or coal and we have cheap natural gas abd hydropower. If the infastrure was in place we would have the plants up. Trust me I feel we should industrialize. I made topic about it.

I don't see much benefit making stuff at a loss. Even steel producing countries import. The biggest exporter is china they are also biggest importer. Trade benefit everyone getting things at lowest opportunity cost. If transparency exist maybe it wouldn't be a money pit to begin with. (Probably not state run companies are inefficient)

Its not just china that imports alot of steel. Other export countries import aswell. So it's not stretch to see us doing same to a degree. Economics is about efficient use of scarce resources. We all want industry but at what cost. How should we go about it is question.

vodutive:


I don't reckon with most people on Nairaland (our educational system being what it is over the last few decades) and if you look at my post history I rarely insult, the guy is obviously a cut above the rest and clearly well educated but his reasoning is so infuriating for someone supposedly well educated. It is us the so called well educated that have failed this country and it is precisely with that sort of thinking that fails to see the bigger picture..

Failing to see the bigger picture is a disease plaguing a large section of our elite, over pampered to prefer uncle Bens rice to local variants, keeping country homes in Europe than showing interest in our own country side

Ovamboland:


If the plant is obsolete and therefore useless you think anyone will find value in buying it.

even the metal scraps in the bin still has it's value..there will always be a buyer for the right price..if they can't put serious money to overhaul the entire system(which is a very tall oder) then they better sell it off!

AZeD1:
.
The real problem with Nigeria is thinking Nigerians thinking we can produce everything.
As of today, the Ajaokuta steel complex that has never worked is 30 years outdated. Spending money on it is stupid.
The world is interconnected so anyone making reference to the industrial Revolution is simply out of date.

Let's say we want to compete with the Chinese on steel and in return they decide not to buy our Oil, what happens then?

The year is 2017 not 1930.

is it true that since the first child in a family already learnt to talk then the second and third children need not learn?

The China you depend on today for cheap steel what if they followed your idea and decided not to make steel because America and Europe was already making it. Will the world be better or worse for it? If we don't make steel what else do we want to make to dominate the world and lead better lives?

If China won't buy our oil is anyone stopping us from learning to do with our crude what China does with it and sell to the world?

Emekamex:


You still dont get it, we cant produce steel if we are not presently mining iron ore. It is just like building a refinery without mining crude oil first.
The basic steps in industrilization should be followed. Govt should invest more in raw materials and then allow the private sector to convert them to finished products.

False sir, many countries make steel with imported iron ore. Who do you think buys the ores from Africa and what do you think they do with it? Japan has practically no mineral but they import from all over the world mostly from people too ignorant or lazy to make use of it and turn out autos, electronics, ships for sale worldwide

Ovamboland:


is it true that since the first child in a family already learnt to talk then the second and third children need not learn?

The China you depend on today for cheap steel what if they followed your idea and decided not to make steel because America and Europe was already making it. Will the world be better or worse for it? If we don't make steel what else do we want to make to dominate the world and lead better lives?

If China won't buy our oil is anyone stopping us from learning to do with our crude what China does with it and sell to the world?

sensible post abeg help me educate them

4Play:


If there was a business case to produce steel in Nigeria, the private sector would have invested in this already. If the private sector don't see such a venture as viable, what makes you think our government possesses the expertise to invest wisely in this project? This country is 57 years old this year: can you name one single government run/funded business venture that has proved profitable - NITEL, Nigeria Airways, NEPA, the refineries, e.t.c.

The staggering thing about discussion with Nigerians is the triumph hope over evidence. No matter the weight of contradictory evidence, Nigerians continue to invest futile hope on government officials.

Not all investment is about profit and declaring yearly dividend. Strategic thinking will help you identify industry that is must have. A country that depends on others for all its steel, energy and ammunition is not really independent

Ovamboland:


is it true that since the first child in a family already learnt to talk then the second and third children need not learn?

The China you depend on today for cheap steel what if they followed your idea and decided not to make steel because America and Europe was already making it. Will the world be better or worse for it? If we don't make steel what else do we want to make to dominate the world and lead better lives?

If China won't buy our oil is anyone stopping us from learning to do with our crude what China does with it and sell to the world?

China entered the steel market in the 70's if not earlier.
Then there was no internet, trade wasn't this liberal, no smartphones or 3D printing.
If you want to build a car today you wouldn't start from the carriage, neither would you build a Pentium one computer because you want to start producing computers.


Nigeria missed the industrial Revolution, we should not miss the tech revolution because we were trying to get into the forgone past.


Never reinvent the wheel rather stand on the shoulders of giants.

Ovamboland:


Not all investment is about profit and declaring yearly dividend. Strategic thinking will help you identify industry that is must have. A country that depends on others for all its steel, energy and ammunition is not really independent

Metal can be 3D printed but you want the government to spend money on a 30+ year relic?
Seriously?
Maybe the government can get into phone manufacturing by making the 3310.