By Peter Omopo | September 17, 2025
President of Dangote Petroleum Refinery, Alhaji Aliko Dangote, has cast doubt on the revival of the Ajaokuta Steel Complex, warning that the decades-old project has been overtaken by global technological advancements.
Speaking in an interview with journalists on Tuesday, Africa’s richest man said Nigeria cannot build a strong economy without a functional steel industry, but insisted that the dream of seeing Ajaokuta work is no longer realistic.
“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. And honestly, between us here, Ajaokuta will not work. We can keep deceiving ourselves. We can keep being passionate about this. It’s not possible,” Dangote declared.
Conceived in 1979, the Ajaokuta Integrated Steel Complex was designed to feature a Metallurgical Process Plant, an Engineering Complex and auxiliary facilities. However, more than four decades later, the multi-billion-dollar facility remains dormant, crippled by mismanagement, corruption, and abandoned reforms.
In January 2024, PUNCH reported that President Bola Tinubu approved the restart of the light steel section of the plant after discussions with India’s Jindal Steel Group, which pledged a $5bn investment in a new steel project in Nigeria during the 2023 G20 summit in New Delhi.
Dangote, however, urged caution, warning that African nations risk becoming dumping grounds for outdated projects and imports that stifle job creation.
“We should be very careful, not only in Nigeria but across Africa. People are importing poverty into our nations and exporting our jobs out. And we have the fastest growing population in the world,” he cautioned.
The business mogul’s remarks are likely to reignite debate on the future of Ajaokuta, widely regarded as a symbol of Nigeria’s industrial ambitions but also of decades of policy failure.
