₦airaland Forum

Aliko Dangote, founder and Chief Executive Officer (CEO) of the Dangote Group, stated that he does not believe the Ajaokuta steel company will ever succeed.

Speaking on Tuesday, September 15, Dangote highlighted the critical role of a robust steel industry in national development but expressed doubts about Ajaokuta’s viability due to its longstanding challenges.

He likened efforts to revive the steel company to attempting to modernize outdated technology in comparison with current advancements.

He said, “I do not believe the Ajaokuta steel company will ever succeed.

“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 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.

“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 you going to the grave yard to bring a dead person or you go to the hospital to bring somebody who is on the dying bed to come and run 100 meters. It’s totally impossible.”

In September 2022, the Nigerian government agreed to pay $496 million to settle a claim by an Indian firm regarding the facility.

The dispute arose following the federal government’s 2008 revocation of an agreement that had granted the firm control over both the steelworks and the National Iron Ore Mining Company.

By December 2022, the government reported that 11 companies had expressed interest in taking over the steel company on a concession basis.

Among these bidders, three were Russian firms, according to the then minister of mines and steel development, Olamilekan Adegbite, who outlined his ministry’s achievements.

After assuming office in August 2023, the minister of steel development, Shuaibu Audu, pledged to revive the steel company.

He stated that he would establish a roadmap for the development of the steel sector, actively pursue the completion of Ajaokuta Steel company, and introduce the necessary legislation to regulate the industry.

In September 2024, the Nigerian government signed an agreement with a Russian consortium for the rehabilitation, completion, and operation of both the Ajaokuta Steel Plant and the National Iron Ore Mining company in Kogi State.

The business guru has spoken. Who has a different opinion? Please come forward and make your assertions.

Time to set up a steel company

Na only Dangote go fit do am the way he built a refinery

Ajaokuta Steel Company won't work because people only care about what they can steal from Nigeria to better their lives. That's why I become jittery whenever the laptop boys profess their love for Nigeria and call you a wailer

Even refinery too cannot work until you ably stepped into the scene. Thats why i call him able alhaji.

He has spoken nothing but the blatantly obvious truth.
The ASC won't work now,not with the breed of politicians and office holders we have, who are so mired in stealing public funds, that Anini and Derico look innocent beside them.
The steel mill is a juicy recipe for stealing by shameless criminals in government.
Only a political and mental revolution can bring the right atmosphere for the steel mill to work.
For now, criminals are all about, swarming like sharks in the sea,seeking an opportunity to loot.

CodeTemplarr:
Even refinery too cannot work until you ably stepped into the scene. Thats why i call him able alhaji.

Dangote said, "let there be refinery", and there is refinery.

Now he is saying, "Nigerians, get sense", and we Nigerians are getting sense.

I call him God!

STOP THAT NONSENSE! Even Dangote will never associate with the nonsense you just typed.

budaatum:
Dangote said, "let there be refinery", and there is refinery.

Now he is saying, "Nigerians, get sense", and we Nigerians are getting sense.

I call him God!

Ideyontop:
STOP THAT NONSENSE! Even Dangote will never associate with the nonsense you just typed.

Stop me if you can. You this mere mortal human.