Aliko Dangote has announced that the Dangote Group will invest more than $10 billion in Africa’s power sector over the next three to four years, describing electricity as essential to the continent’s economic growth.
The industrialist made the disclosure in an interview with Al Jazeera published on Monday. He said the group may cancel or scale back certain planned businesses, including steel, to free up capital for electricity projects.
“We are going to invest in power. We want to, actually, there is 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,” Dangote said.
He pointed to Africa’s severe electricity deficit, noting that more than 600 million people on the continent still lack access to power. “It is something that we Africans should not really allow. Over 600 million of our people to remain in darkness,” he said.
Dangote argued that reliable electricity is fundamental to industrial activity, investment and broader economic expansion. “So power is key. We will never, ever create growth without power,” he said.
He also linked improved power supply to political outcomes, saying leaders who deliver electricity would strengthen their standing with voters. “You know, as some politicians, if they work hard, they have a plan, when you deliver power, you don’t need to go for campaign when you’re going for the election,” he said. “So that’s why they say, power is growth.”
The planned investment marks a significant expansion of Dangote Group’s focus on energy infrastructure across Nigeria and the wider continent.
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