Dangote seeks national power summit to save industries

Aliko Dangote has urged the federal government to convene a national forum to address Nigeria’s persistent electricity crisis.

He warned that industrial growth cannot survive without stable power.

Dangote made the call in Abuja during the launch of Nigeria’s Industrial Policy themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.” The event was attended by Vice President Kashim Shettima, senior government officials and industry leaders.

According to Dangote, the country needs a one or two-day retreat focused solely on resolving power challenges.

He described the heavy burden on manufacturers who spend more on generating electricity than on actual production, maintaining both primary power plants and backup generators.

“That doesn’t make sense. When you look at some factories, you spend more money generating power. It means you have to have power, you set up your own power plant, then you set up also another standby,” Dangote stated.

He admitted that while higher diesel consumption could benefit his business interests, the arrangement remains unsustainable.

“I would love to sell more diesel, but that’s not the right way. Even if you give us money, zero interest, you give us free land with power, if there is no protection, there is no way any industry will thrive here,” he said, describing excessive imports as “importation of poverty and exportation of jobs,” he added.

The Manufacturers Association of Nigeria and the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture backed the policy but emphasised strict implementation.

Francis Meshioye urged effective execution, noting that previous policies failed due to poor follow-through. According to him, indigenous entrepreneurship must be prioritised for the policy to succeed.

Dangote expressed optimism about the naira’s outlook, projecting it could strengthen to around ₦1,100 to the dollar if import restrictions are sustained.

He described the relationship between government and entrepreneurs as a joint venture. “We as entrepreneurs must behave. When we do our business, we must pay our taxes,” he said, calling for shared responsibility in driving national prosperity.