The Ajaokuta Steel Company, located in Ajaokuta, Kogi State, Nigeria, was envisioned as the backbone of Nigeria’s industrialization when construction began in the 1970s. However, despite the massive investments and decades of efforts to get the plant operational, the company has struggled with delays and setbacks. To date, Ajaokuta Steel is largely considered a non-operational industrial project, often referred to as a "sleeping giant."

Here are key points about Ajaokuta Steel:

1. Initial Vision: Ajaokuta Steel was intended to be one of the largest steel plants in Africa, expected to significantly boost Nigeria's industrial capacity by supplying steel for construction, manufacturing, and other industries.

2. Construction Delays: Construction started in 1979, but various political, economic, and logistical issues prevented the plant from becoming fully operational. Despite reaching about 98% completion in the early 1990s, the plant has never produced steel on a large commercial scale.

3. Ownership and Legal Disputes: Ajaokuta has been mired in legal disputes, especially after a concession agreement with Global Infrastructure Nigeria Limited in the 2000s went awry. These disputes hindered progress in resuscitating the project for many years.

4. Attempts at Revival: Several Nigerian administrations have expressed their commitment to reviving Ajaokuta Steel. The Buhari administration, for instance, made efforts to settle outstanding legal issues and work with foreign partners, including Russia, to complete the plant. However, as of now, large-scale steel production is still elusive.

5. Current Status: Ajaokuta Steel remains largely dormant, though there are still occasional talks about potential resuscitation. The Nigerian government continues to explore options for reviving the steel plant to fulfill its original purpose.

While Ajaokuta Steel is not fully functional, it remains a symbol of Nigeria's industrial ambitions and an ongoing challenge for successive governments. Its revival could still play a crucial role in Nigeria's quest for industrialization.