Examining the Effects of Ailing Ajaokuta Steel Plant on Industrialization and Technological Growth in Nigeria

Abstract

Nigeria, out of the exigency to feed her bulging population established a mega iron and steel complex in Ajaokuta, Kogi state to drive technological innovation for productive activities in the country. The steel project was designed to serve as a catalyst for growth and development of industries as well as other sectors of the Nigerian economy. While the existing literature is replete with studies focusing on the factors undermining the operations of Ajaokuta Steel Plant, the effects of underutilized Ajaokuta Steel Plant on the Nigerian economy has received less academic attention. It is against this backdrop that the study examined the effects of ailing Ajaokuta Steel Plant on industrialization and development of technology in Nigeria. The study relied on documentary method of data collection and qualitative descriptive method of data analysis. The study revealed among others that the ailing state of Ajaokuta Steel Plant has adversely affected the growth of indigenous technologies and industries in Nigeria. The failure of the Ajaokuta Steel Plant to produce iron and steel products for the creation of indigenous means of labour has made the Nigerian economy an outrageous consumer of foreign techs and manufactured products. This has not only halted country’s quest for industrialization but has truncated its ability to manufacture what it consumes.