Ajaokuta: The road back from the grave (II)

The article discusses the history of the Ajaokuta Steel Company, describing it as a story of squandered opportunities and ignored lessons. It notes that the administration of President Bola Ahmed Tinubu faces the question of whether Nigeria has the political will to make Ajaokuta work where five previous administrations failed. The first step toward revival is described as intellectual honesty, abandoning the claim that Ajaokuta is "98 per cent complete" and embracing a new operating model. Rather than outright privatisation, the government has settled on a build-operate model over a 10-to-15-year term, with returns flowing back to the state, and prospective investors from the United States and China have already conducted technical assessments.

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