Abstract
The chapter examines the trajectory of government enterprises and industries with a particular focus on Nigeria’s steel industry. The establishment of industries remains the priority of develo** countries, principally concerning manufacturing industries. Industrialisation is pursued within the space of transforming and diversifying develo** countries' mono-economy. Nigeria's path to industrialisation was pursued through the Ajaokuta steel industry conceived in 1958 amidst independence agitations. Since 1958, the successive government of Nigeria has extensively pursued several approaches toward the completion of the project. Among these approaches include collaboration with steel industrialised states like Russia and adopting a public-private approach through concession. However, despite these various approaches, Nigeria's foray into the steel projects remains a mega industrialisation failure given a series of challenges. Among the challenges affecting the completion of the steel project include corruption, the longevity of the project leading to the ageing of the plant, and the problem of manpower, raw materials and infrastructure. Given the importance of the project, the chapter provides a need analysis by interrogating the Republic of Korea (South Korea) approach to steel industry development, its operation and advancement. The article's findings reveal that while the government's contribution was paramount in the establishment of the steel industry, its operation at the formative stage was kept within the national space and operated like a private firm while government provide protection and monopoly. Using the need analysis, the chapter argues that Nigeria's private concessionary approach to completing and operating the Ajaokuta steel industry might not produce desired results. However, a crucial step needed is government commitment to restructuring and completing the industry while issues of privatization can be pursued after it commenced operation. The chapter relies on data sources from books, journals, and newspapers.
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Enesi, P.H., Yemisi, O.I. (2023). Steel Industrialisation and Ajaokuta Imbroglio in Nigeria: Exploring Need Analysis from South Korea Steel Industry. In: Ani, K.J. (eds) Political Economy of Colonial Relations and Crisis of Contemporary African Diplomacy. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-99-0245-3_9
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