WorldStage– Billionaire industrialist Aliko Dangote has called on the Federal Government to call a national forum where the issues of power canbe resolved.
Speaking at the event themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future,” where be delivered a goodwill address, he
warned that President Bola Tinubu Nigeria may lose all the gains from the ongoing reforms if power generation remains as it is.
At the event where the Vice President, Shettima represented President Tinubu, the Dangote Group president said all the enabling policies investors need are already in place.
“If you look at the incentives that we have for people to invest in Nigeria, actually, they are even more than what we need,” Dangote said.
He appreciated the administration for enabling investors to create jobs and growth by contributing 90 percent of the GDP.
“…Without power, Mr. Vice President, there is no way you can create growth or create jobs. So, power means growth. No power, no growth,” he said.
Some factories, he noted, spend more money generating electricity than producing goods—by setting up their own power plants, most diesel-powered.
“I would have loved to sell more diesel. But that’s not the right way for me. It takes a truly patriotic person to say, ‘I love to produce diesel’,” he said.
Nigerians consume nine million liters of diesel daily, going by the Nigerian Midstream Downstream Petroleum Resources Authority (NMDPRA) February data. Dangote Petrol Refinery, a subsidiary of the Dangote Group, supplies about six million litres, more than 25 percent of the total output, at over N900 per litre.
“If I have my way, I would rather there is constant power, and I will not produce diesel again.”
Nigeria boasts more than 20 industrial hubs across 10 states, including Lagos, Ogun, Rivers, Imo, Oyo, Osun, Kano, and others where power demand remains ever higher than supply.
Lagos, hosting about 80 percent of industries in Nigeria, receives below 2000mw from the national grid, the state government revealed last April. The state, however, needs between 6,000 and 9,000 megawatts to power its economy.
Ogun is overtaking Lagos in industrialization now, needing 7,000 MW to power the growth. But the gateway state also depends on the average 2,000 mw many of the states get from the national grid.
Dangote then advised the federal government to tackle the power problem with urgency.
“One of the things that I want to advise Your Excellency, Mr Vice President, is to call a national forum where we will have a one- or two-day retreat and resolve the issues of power,” he said.
The federal government allocated over N1 trillion to the power sector in 2026. The reform consolidation in the sector, however, focuses on stimulating private-public investment in distribution energy system, and gas-led renewable energy.
