Dangote: Ajaokuta Steel Company Can’t Be Revived

The President of Dangote Petroleum Refinery, Aliko Dangote, has said the long-delayed Ajaokuta Steel Complex may never come to life, arguing that advances in global technology have overtaken the project.. . Read ..Full.. Article.. .

Speaking in an interview with journalists on Tuesday, Dangote stressed the importance of steel to national development but ruled out the possibility of reviving Ajaokuta.

“The steel we are talking about, we will definitely look at the opportunities of doing that. There is no nation that you can build without a steel industry. Honestly, just between us, Ajaokuta isn’t going to succeed. We can continue to fool ourselves. We can keep being passionate about this. It’s not possible,” he said.

The Ajaokuta Integrated Steel Complex, conceived in 1979 to host a Metallurgical Process Plant, an Engineering Complex, and auxiliary facilities, has failed to take off after more than 45 years, hindered by corruption and mismanagement.

Dangote further cautioned that Africa must be wary of outdated industrial projects and economic policies that weaken job creation and growth.

“But really, you know, come to think of it, we should be very careful, not only in Nigeria, but in the entire African continent. Because people are importing poverty into our nations and exporting our jobs out. And we have the most, you know, growing population in the world, the continent, and..  Read . .More …