Dangote Urges Investment in Nigeria's Power Sector

Alhaji Aliko Dangote has made a significant call for urgent investment in Nigeria's power sector, stressing the necessity to build a reliable power grid to achieve true economic independence. During his induction ceremony into the Nigerian Academy of Engineering in Lagos, he pointed out that Nigeria has only added 760 megawatts to its national grid over the past 11 years, while he could potentially generate 1,500 megawatts in a shorter timeframe.

Charl Akinbobola, a senior energy analyst at Sofidam Capital, noted that the sector is plagued by management challenges and funding shortages, amounting to several trillion naira. Dangote's previous ventures, including his cement refinery, have shown his capability to navigate challenges and achieve success.

He criticized the lack of progress in the sector, referencing the issuance of licenses during past administrations, including Olusegun Obasanjo and Muhammadu Buhari. The Centre for the Promotion of Private Enterprise (CPPE) supports Dangote's vision, emphasizing the need for reforms to align with Nigeria's economic realities.