…Dangote stressed that electricity remained the single most critical constraint on manufacturing and job creation.
LAGOS, NIGERIA- The iNews Times | Aliko Dangote, the President and Chairman of Dangote group, on Tuesday urged the Federal Government to immediately convene a national retreat to tackle Nigeria’s ongoing electricity crisis. He warned that persistent power outages could derail the country’s industrialisation efforts and slow economic growth.
Dangote made the appeal during the official national launch of the National Industrial Policy 2025 in Abuja, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.”
The policy was introduced against the backdrop of a fragile manufacturing sector, which faces significant challenges due to unreliable electricity supply, high production costs, limited access to finance, poor infrastructure, and heavy reliance on imports.
Top government officials, industry leaders, and development partners attended the event, with President Bola Tinubu represented by Vice President Kashim Shettima.
In his goodwill message, Dangote emphasized that without stable electricity, Nigeria would struggle to create jobs, improve industrial productivity, or sustain economic growth.
“One of the things I want to advise Your Excellency, Mr Vice President, is to call a national forum for a one- or two-day retreat to resolve power issues. Because without power, there is no way to create growth or jobs in any country. Power means growth; no power, no growth. This must be addressed,” he stated, earning applause from attendees, including the Vice President.
While praising government policies supporting industrialisation, Dangote stressed that electricity remained the single most critical constraint on manufacturing and job creation.
“We know what industrial policy is, and it is very important. The government cannot directly create jobs; it can only facilitate them. The policies already in place are strong. Nigeria is a huge market and has the potential to serve other African nations,” he noted.
However, he cautioned that incentives alone were insufficient without robust infrastructure and protection for domestic industries.
“The policy is there, and the incentives for investing in Nigeria are more than adequate. What remains is the protection of local industries,” Dangote said, adding that excessive imports pose a major threat. “Even with zero-interest loans, free land, and power, industries cannot thrive without protection. Importing goods imports poverty and exports jobs.”
He highlighted the high costs manufacturers incur due to unreliable power, with some firms spending more on electricity generation than on production.
“Many factories have to set up their own power plants with backups, which does not make sense. Prosperity cannot come this way,” he added.
Dangote’s remarks followed a recent five-day nationwide power disruption caused by gas maintenance activities, which affected seven power plants between February 12 and 15, 2026, leading to widespread blackouts and concerns among manufacturers.
Stakeholders have repeatedly warned that frequent outages force companies to rely on diesel and alternative energy, driving up production costs and contributing to inflation.
He also underscored the private sector’s dominance in Nigeria’s economy, calling for stronger collaboration with the government. “Nigeria is the only African country where the private sector contributes nearly 90% of GDP, compared to the government’s 10%. We have the capacity to drive consumption, industry, and disposable income,” Dangote said.
Entrepreneurs, he stressed, must support national development by paying taxes and complying with regulations. “The government is the major shareholder in every business. Today, it earns more from our cement business than anyone else. But as long as we are allowed to expand and prosper, that is acceptable.”
Dangote also praised recent economic reforms for improving investor confidence and currency stability. “Manufacturers are encouraged, and the stable naira is attracting investments. If we reduce import dependence and support local production, the naira will strengthen further,” he said.
He urged policies to protect domestic manufacturers from dumping and unfair competition, highlighting constraints like high interest rates, infrastructure deficits, and electricity challenges. “Without protection, local industries cannot survive,” he added.
Dangote concluded by reiterating the urgent need for power sector reforms: “It takes a truly patriotic person to say I like producing diesel, but I would rather there is constant power, and I would stop producing diesel.”
Nigeria continues to grapple with electricity challenges, including gas shortages, infrastructure vandalism, and maintenance shutdowns. Experts say that a stable power supply is crucial for achieving the goals of the National Industrial Policy 2025, which aims to boost local production, reduce imports, and position Nigeria as a leading manufacturing hub in Africa.
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