Africa’s richest man, Aliko Dangote, has come down hard on Nigeria’s persistent power supply challenges, describing the country’s current electricity output as unjustifiable and far below its potential.
Speaking during a recent visit to the Dangote Refinery in Lagos, the business mogul revealed that his group of companies alone generates over 1,500 megawatts (MW) of power for internal use—more than a quarter of the entire national grid’s current output, which hovers between 4,500 and 5,000 MW.
He insisted that Nigeria should be aiming for at least 50,000 to 60,000 MW of electricity if it intends to meet the demands of its population and economy.
“As a company, we are producing over 1,500 MW for our own operations. There’s absolutely no reason the whole country should only be generating just three times that,” Dangote stated.
Dangote Refinery as Proof of What’s Possible
He pointed to the newly completed Dangote Refinery—one of Africa’s largest industrial projects—as evidence that big things can be done locally, including in the power sector.
“Building this refinery was far more difficult than generating 25,000 or even 30,000 MW of power. If we can do this, we can surely fix power—generation, transmission, and distribution,” he said.
Power Sector Needs Private Investment
Dangote emphasized that solving Nigeria’s electricity crisis isn’t the government’s job alone. He called for more private sector participation, stressing that wealthy Nigerians and businesses must stop investing abroad and instead channel their resources into national development.
“The power sector is already privatized. There’s no excuse. We must stop taking money abroad and start investing it here—to grow Nigeria, to grow Africa,” he urged.
Capital Flight, Corruption Hindering Growth
He also tackled the issue of capital flight, blaming it for Nigeria’s slow economic progress. According to him, stolen public funds taken out of the country remain largely unproductive and even become a burden to the perpetrators and their families.
“People steal money and take it abroad, only for it to sit idle. Meanwhile, the economy here suffers,” he added.
Big Ambitions Ahead
Looking ahead, Dangote disclosed plans to become the world’s largest fertilizer producer in the next 40 months, targeting a production capacity of 12 million tonnes.
The industrialist’s remarks serve as a rallying call for stronger local investment and private sector-driven development—especially in critical areas like power and infrastructure.
