Dangote plans $10bn power investment across Nigeria, Africa

By Okeagu Oluchi

President of Dangote Group, Aliko Dangote, has announced plans to invest more than $10 billion in Africa’s power sector over the next three to four years, describing electricity as critical to the continent’s economic transformation. Dangote disclosed this in an interview with Al Jazeera uploaded on Monday, saying the investment would support what he expects to be a major transformation across Africa.

“The next, three, four years, there will be a major transformation in Africa. And that’s why we’re looking at power, for example”, he said.

Explaining the plan, Dangote said the group could redirect funds from some proposed businesses, including steel, into electricity projects.

“We are going to invest in power. We want to, actually, there are one or two businesses that we might cancel, like steel, and we will put in the money. We want to invest over $10 billion alone in power,” he said.

He identified Africa’s electricity deficit as one of the continent’s major development challenges, noting that more than 600 million Africans still lack access to electricity. “It is something that we Africans should not really allow. Over 600 million of our people to remain in darkness,” Dangote said.

According to him, expanding access to reliable electricity would have implications beyond households, supporting industrial activity, investment and broader economic growth.

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