Africa’s richest man, Aliko Dangote, has expressed concern over Nigeria’s persistent electricity shortfall, stating that the country should be generating between 50,000 to 60,000 megawatts (MW) to meet its developmental needs. He noted that despite the country’s size and economic potential, Nigeria currently generates only about 4,000 to 5,000MW, which he described as highly inadequate.
Speaking during a tour of the newly completed Dangote Refinery in Lagos, Dangote revealed that his conglomerate alone generates over 1,500MW to power its operations. He said this figure demonstrates the scale of power Nigeria is capable of producing if the right investments and strategies are in place. He emphasized that the success of his refinery shows that building large-scale power and industrial infrastructure is achievable within the country.
Dangote stressed that the responsibility of solving Nigeria’s power crisis does not lie with the government alone. According to him, since the power sector has already been privatized, it is imperative for private individuals, especially wealthy Nigerians, to invest more in the sector. He also called for an end to the culture of capital flight, urging business leaders to channel their wealth into developing the country’s infrastructure rather than keeping their funds overseas.
He further lamented the negative impact of corruption and the failure to reinvest locally, arguing that money taken out of the country does nothing to benefit future generations. Instead, he encouraged a shift toward building sustainable local industries that can support national development and improve the quality of life for Nigerians.
In addition to his remarks on electricity, Dangote disclosed plans to increase fertilizer production to 12 million tonnes within the next 40 months, aiming to make his company the largest fertilizer producer in the world. This move, he said, aligns with his vision of industrializing Nigeria and reducing dependence on imports.
