Aliko Dangote, President of Dangote Group, says Nigeria has no excuse for its limited power supply. During a recent visit to the Dangote Refinery in Lagos, he shared that his group produces over 1,500 megawatts of electricity for its own operations. He believes if one company can reach that level, the entire country should be generating much more.
Dangote pointed out that Nigeria’s current output of 4,500 to 5,000 megawatts is far too low. He thinks Nigeria should aim for at least 50,000 to 60,000 megawatts. He used the success at his refinery to show that large-scale industrial projects can thrive in Nigeria, even in the power sector.
He also said that building a refinery was tougher than increasing power capacity to 30,000 megawatts. He stressed that electric power generation should not be left only to the government. Private investment is key to growing Nigeria’s power supply.
He reminded listeners that the power sector is already privatised and urged wealthy Nigerians to invest at home instead of sending their money overseas. Dangote explained that confidence in the local economy is needed to attract foreign investors. Keeping money in the country helps everyone and supports national growth.
Dangote said capital flight hinders progress and criticized those who hide stolen public money abroad. He believes this habit holds Nigeria back because the money isn’t used for local projects that benefit citizens.
He also shared his vision to make Dangote Group the world’s largest fertilizer producer within 40 months by growing output to around 12 million tons.
