Aliko Dangote, President and Chief Executive Officer of Dangote Refinery, has expressed skepticism about the viability of the Ajaokuta Steel Company, stating that it is not possible for the company to be successful. In a recent video, Dangote emphasized the importance of progress and adaptation to change, highlighting the need for industries to evolve in order to remain relevant.

Dangote noted that a functioning steel industry is crucial for building a nation, but he believes that the Ajaokuta Steel Company is not capable of fulfilling this role. He cited the example of outdated vehicles, such as the Igala, which was previously produced in Nigeria, and compared it to modern cars like the Kia, emphasizing that things have changed and industries must adapt to remain competitive.

Dangote also shared an anecdote about his experience with a Tesla electric vehicle in Italy, where he was impressed by the vehicle’s efficiency and cost-effectiveness. He used this example to illustrate the importance of embracing new technologies and innovations in order to stay ahead.

The Ajaokuta Steel Company has been a subject of controversy and debate in Nigeria, with many calling for its revitalization. However, Dangote’s comments suggest that he believes it is not possible for the company to be successful in its current form. His statements have sparked discussion about the need for Nigeria to invest in modern and efficient industries, rather than trying to revive outdated ones.

The importance of a functional steel industry cannot be overstated, as it is a critical component of a country’s infrastructure and economic development. Dangote’s comments highlight the need for Nigeria to prioritize investment in modern and efficient industries, rather than relying on outdated technologies and companies. As the country continues to navigate its economic and industrial development, it remains to be seen whether the Ajaokuta Steel Company will be revitalized or replaced by newer, more efficient industries.