Nigeria Can Produce 60,000MW of Power, Says Dangote
Aliko Dangote, President of the Dangote Group, has said that Nigeria has no reason to be struggling with power generation. He noted that his own company alone generates over 1,500 megawatts for internal use and believes the country should be producing between 50,000MW and 60,000MW to meet national needs.
During a tour of the Dangote Refinery in Lagos, he explained that what has been accomplished at the refinery proves large-scale industrial projects can succeed in Nigeria, even in the energy sector. He expressed frustration at Nigeria’s low output of 4,500MW to 5,000MW, saying it’s far below what is needed.
Dangote argued that building the refinery was more difficult than improving Nigeria’s power supply to 30,000MW. He stressed that the government alone cannot be responsible for this development, calling on the private sector to invest in power infrastructure. According to him, significant change is possible if the private sector plays an active role.
He reminded the public that the power sector has already been privatised. He encouraged wealthy Nigerians to stop taking their money abroad and instead invest in the country. He said this is essential to building trust in Nigeria’s economy and encouraging foreign investors.
Dangote also addressed the issue of capital flight, blaming it for Nigeria’s slow growth. He criticised those who steal public funds and hide them abroad, saying the money ends up being useless to them and the economy. Instead, he advised reinvesting that wealth locally to support the country’s development.
He added that corruption exists in many other countries, but they are still able to grow because they invest in their own economies. He insisted that Nigeria’s biggest challenge is not just corruption, but the refusal of some to reinvest their earnings in the country.
Looking ahead, Dangote revealed his ambition to become the world’s largest fertiliser producer in the next 40 months, aiming for a production capacity of 12 million tonnes.