Africa’s richest man, Aliko Dangote, has announced plans to invest more than $10 billion in Nigeria’s power sector as part of efforts to address the country’s long-standing electricity challenges.
Dangote said the proposed investment would support the expansion of power generation and related infrastructure, potentially strengthening electricity supply to industries and communities across Nigeria.
“We are going to invest over $10 billion in power,” Dangote said, highlighting the scale of his group’s planned commitment to the sector.
Nigeria has struggled with inadequate and unreliable electricity supply for decades, with businesses and households often relying on petrol and diesel-powered generators to meet their energy needs.
The proposed investment is expected to complement existing efforts to increase electricity generation and reduce the cost of power for industries, particularly manufacturers whose operations are heavily affected by unreliable supply.
Dangote Group is already a major player in Nigeria’s industrial and energy sectors, with its investments spanning cement, fertiliser, oil refining and petrochemicals.
The latest announcement comes as Nigeria seeks to attract more private-sector investment into its power sector and improve electricity supply, which remains a major constraint on economic growth.
