Aliko Dangote, head of the Dangote Group, expressed skepticism about the prospects of Ajaokuta Steel in a recent video shared by TVC on September 16.

The billionaire entrepreneur underscored the vital role a robust steel industry plays in national progress, yet he remains doubtful about Ajaokuta's success.

He compared the idea of revitalising the steel plant to trying to retrofit outdated machinery with the latest technology, implying that the project's chances of thriving are slim.

He said: “There is no nation that you can build without a steel industry and honestly within us here, Ajaokuta will not work. We can keep deceiving ourselves and keep being passionate about it, but it’s not possible.

“It like you now, if you remember those vehicles we used to produce from Volkswagen (Igala) if you bring Igala now, would you now compare it to the current Kia. No, things have changed.”

He emphasised the need for adaptation in a rapidly evolving world.

“Things have changed and all of us have to keep changing or you will become archaic. You have to change, now, when you carry something like Ajaokuta is like you going to the grave yard to bring a dead person or you go to the hospital to bring somebody who is on the dying bed to come and run 100 metres. It’s totally impossible,” he added.

The steel company, located in Ajaokuta, Kogi State, was built between 1979 and the mid-1990s. It was not completed and has never operated optimally despite the efforts of different governments.