Aliko Dangote, Africa’s richest man and head of Dangote Group, has declared Nigeria’s Ajaokuta Steel Company unviable, likening efforts to revive it to "bringing a dead person from the graveyard" in a statement that underscores the plant’s long-standing challenges.

Speaking in a video shared on TVC’s X handle Tuesday, September 16, 2025, Dangote emphasized the critical role of a steel industry for national development but argued Ajaokuta’s outdated infrastructure makes its revival impractical. "It’s like you go to the hospital to bring somebody who is on the dying bed to come and run 100 meters. It’s totally impossible," he said, comparing the plant to obsolete vehicles like the Volkswagen Igala against modern models.

Located in Kogi State, Ajaokuta was constructed between 1979 and the mid-1990s but never fully completed or operated at capacity. Despite multiple government efforts, it has remained dormant for over two decades. In 2022, Nigeria paid $496 million to settle a dispute with an Indian firm after revoking a 2008 concession agreement deemed unfavorable. By December 2022, 11 companies, including three Russian firms, expressed interest in a new concession.

In August 2023, Steel Development Minister Shuaibu Audu pledged to revive Ajaokuta, signing a deal with a Russian consortium in September 2024 for its rehabilitation. Dangote’s remarks challenge these efforts, highlighting the need for modern technology and adaptation, warning that clinging to outdated systems risks irrelevance.