Abstract:
The study is using Ajaokuta steel project as a case study to focus on the following question as a guide towards the concrete examination of the influence of international politics in technology transfer and acquisition to the developing world like Nigeria: Has the domination of the international steel sector by major steel companies (Nippon, Arcelormittal, US steel, Thyssenkrupp and Baosteel) negatively affected the execution of Ajaokuta steel project? The general objective of this study is to examine the Impact and implication of domination of the major international steel sector on the execution of Nigeria’s Ajaokuta steel project. We adopt the Marxist political economy approach through Marxist production analysis as a most suitable framework for the purpose of analyzing the politics of technology acquisition and the state of Nigeria’s Ajaokuta steel project. Information for the analysis was gathered mainly through the documentary method of data collection while analysis was done using the content analysis aided by tables. Our findings are as follows: Domination of international steel sector by the major steel companies, (Nippon, Arcelormittal, US steel, Thyssenkrupp and Baosteel) has negatively affected the execution of Ajaokuta steel project. Also, Nigerian government should learn from the Asian escape by internally developing the necessary technological and organizational capabilities.
