Africa’s richest businessman, Aliko Dangote, has unveiled plans for a massive investment in Nigeria’s power sector, with a target of generating up to 20,000 megawatts of electricity.
Dangote disclosed the ambitious plan during an interview with the Managing Director of the International Finance Corporation (IFC), Makhtar Diop, on Wednesday.
The billionaire industrialist said the move is aimed at helping to bridge Nigeria’s chronic electricity deficit and boost industrial growth across the country.
According to him, the Dangote Group is preparing to expand aggressively into power generation as part of efforts to support economic development and improve energy supply for businesses and households.
Nigeria has long struggled with inadequate electricity generation and unstable power supply, a challenge experts say continues to hinder industrial productivity and economic growth.
Dangote’s proposed investment is expected to significantly strengthen the country’s power capacity if fully implemented.
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