Not quite...
To the best of my knowledge, this was the yellowcake that has been pretty much under U.N. lock and key (more or less) for a long time. Last time I saw a figure, it took about five tons of yellowcake to make enough bomb-grade uranium for one bomb, but it stands as a symbol of what Saddam wanted to accomplish.
The more highly-radioactive materials, the ones that could be used for a dirty bomb, once had conventional uses, like pipe inspection and medical uses.
That all being said, I'm damn glad it isn't in the country any more, and I don't see any way that material could have been shipped out of there with Saddam in charge.
And now we KNOW that yellowcake isn't going to wind up in a bomb someday.
We also cleaned out Libya this way.