Aliko Dangote, President of the Dangote Group, has faulted Nigeria’s low power output, insisting the country should generate no less than 60,000 megawatts compared to the current 4,500 to 5,000 MW. Dangote made the comments while touring the Dangote Refinery in Lagos, noting that his group currently generates more than 1,500 megawatts for its operations. He said this demonstrates that large-scale power projects are possible in Nigeria.
“As a company, we are producing over 1,500 MW for our own consumption across the group. Nigeria should not be generating only about three times that amount. The country should be at 50,000 to 60,000 MW,” he stated.
Highlighting the refinery as an example of what is possible, Dangote argued that building the country’s power infrastructure would be easier than constructing the refinery, provided there is strong private sector participation.
“What we have done here is much more difficult than making Nigeria 25,000 or 30,000 megawatts of power with transmission and distribution. But it is not the work of government alone,” he stated.
Dangote urged wealthy Nigerians to stop taking capital abroad and instead invest in critical sectors like power, noting that the electricity sector has already been privatized.
“We should stop taking our money abroad and invest it here to develop our country and continent. If we do not show confidence in our own economy and leadership, foreigners will not come,” he said.
He linked capital flight to slow economic growth, condemning those who embezzle public funds and hide them abroad.
“There’s nowhere without corruption. Many countries have more corruption than us, but they are growing because stolen money is reinvested locally. Our challenge is that stolen funds leave the country and remain idle,” Dangote added.
He further revealed plans to scale up his fertilizer business, targeting an annual production capacity of 12 million tonnes within the next 40 months, a move that would make him the largest producer globally.
