The President of the Dangote Group, Alhaji Aliko Dangote, has attributed Nigeria’s slow industrial growth to its unstable power supply.
Dangote noted that running a business in developed countries is 30% cheaper than in Nigeria and other African nations due to their stable electricity infrastructure. Speaking during a visit by Zambia’s Minister of Energy, Makozo Chikote, to the Dangote Refinery in Lagos, he highlighted that Ethiopia hosts the group’s most profitable cement factory because of its reliable power supply.
According to Dangote, one of the major reasons previous industrialization efforts failed—including those attempted by his grandfather—was the lack of stable electricity.
“If there’s no power, there won’t be growth. Abroad, it’s plug-and-play. You just build a factory and connect to the network. That’s why our most profitable cement factory is in Ethiopia—they gave us power at a fixed rate for five years, making planning easier,” he said.
In Nigeria, however, businesses must invest heavily in generating their own power, adding to operational costs. Dangote also blamed inconsistent government policies for industrial setbacks, likening policy reversals to moving goalposts in a football match, making long-term planning difficult.
He urged the government to recognize its role as a major stakeholder in industrialization, emphasizing that businesses contribute significantly to national revenue through taxes. “For every N1 turned around in our cement business, 52 kobo goes to the government in various taxes,” he explained.
Dangote reiterated that without stable electricity and consistent policies, industrialization in Nigeria would remain a challenge.
