Africa’s richest man, Aliko Dangote, has cast fresh doubt over the revival of the long-moribund Ajaokuta Steel Company, declaring that the multi-billion-naira project “cannot work.”
Dangote, who doubles as President and Chief Executive Officer of Dangote Refinery, made the remark in a viral video shared on social media, where he questioned the relevance of resuscitating a facility he described as outdated.
“There is no nation you can build without a steel industry. But honestly, Ajaokuta Steel Company will not work within us here,” Dangote said firmly.
He cautioned Nigerians against clinging to sentiments, stressing that the world had moved on. Drawing a vivid analogy, the business mogul compared Ajaokuta to the obsolete Igala cars once assembled in Nigeria.
“If you bring Igala now, will you compare it with the current Kia? Things have changed, and we all must keep changing or risk becoming archaic,” he said.
Dangote recounted his experience abroad, where he rode in a Tesla electric vehicle that cost just €20 to fully charge for a 500-kilometre trip. According to him, such innovations underscore how rapidly global industries are evolving, a shift Nigeria must embrace.
In his words: “It’s like going to a graveyard to wake the dead, or asking a dying man to run 100 metres — impossible.”
The billionaire, however, did not hide his fondness for Nigerians, albeit in his trademark satirical tone. “I love Nigerians because it’s only Nigerians who would rush to the airport without a confirmed booking and still make noise,” he quipped.
