DANGOTE GROUP PLANS $10BN POWER INVESTMENT TO BOOST AFRICA’S ELECTRICITY SUPPLY

President of Dangote Group, Aliko Dangote, has announced plans by the conglomerate to invest more than $10bn in the power sector over the next three to four years as part of efforts to address Africa’s electricity deficit and support industrial growth. Dangote disclosed the plan during an interview with Al Jazeera, explaining that the group was considering redirecting funds from some existing or proposed businesses into electricity generation and other power-related investments.

The businessman identified inadequate electricity supply and inconsistent government policies as major challenges affecting investment and industrial development across Africa. He said the decision to increase investment in power was driven by the need to provide more reliable electricity for businesses and communities, arguing that sustainable economic growth would remain difficult without adequate power supply. Dangote said the group could reconsider some projects, including its steel business, and redirect part of the funds towards the power sector.

Dangote also drew attention to the scale of Africa’s electricity access problem, noting that more than 600 million people on the continent still live without electricity. He said the situation needed urgent attention because reliable power is closely connected to industrialisation, job creation and economic development. According to him, African countries would struggle to achieve sustainable growth if they continued to depend heavily on imported goods without building sufficient industrial capacity supported by dependable electricity.

The planned investment is expected to form part of Dangote Group’s broader expansion strategy across Africa. Dangote said the company’s focus on power was intended to contribute to a major transformation on the continent within the next few years, while also supporting industrial activities that require stable energy supplies. His comments come amid continuing concerns from Nigerian manufacturers and other businesses about the cost and reliability of electricity, with many companies relying on alternative sources of power to keep their operations running.

Dangote further stressed that electricity should be treated as a key driver of economic growth rather than simply another infrastructure need. He argued that governments that successfully provide reliable power can create conditions for businesses to expand, attract investment and generate employment. The proposed $10bn commitment therefore represents a significant shift in the group’s investment priorities, although details on the specific projects, locations, financing structure and implementation timetable for the planned power investments are yet to be fully disclosed.