Lagos, Sept. 22, 2026 – Aliko Dangote, the Chief Executive of Dangote group, is to commit over $10 billion in to the development of the power sector.in Africa within the next three to four years..
He disclosed this during an interview with Al Jazeera published on Monday.
Dangote said the group was considering redirecting funds from certain businesses, including steel, towards electricity generation and other power-related investments.
“And I’m telling you in the next three to four years, there will be a major transformation in Africa, and that’s why we’re looking at power. We are going to invest in power. There are one or two businesses that we might cancel, like steel, and we will put the money in power. We want to invest over $10bn alone in power.”
“You know, if some politicians work hard and have a plan, when you deliver power, you don’t need to go for a campaign when you’re going for an election. Power is key; we will never create growth without power. That’s why they say power is growth. When I say power, I mean electricity is growth.”
Dangote blamed inconsistent government policies for the poor state of electricity supply in Africa, stressing that there would not any industrialization in the continent without power.
“The problem really is, it takes two to tango. I think in the past, there’s been a lot of flip-flops in government policies. Government policies were changing every day, and then, the lack of electricity is also there.
“So, these two issues haven’t gone away. They are still there. But for some of us that really mean business, we are here, and we know that yes, without our intervention, Africa will never be able to create jobs. If there’s no industrialisation, how do you create jobs? You can’t,” he said.
Dangote said more than 600 million Africans lived without electricity, adding that as Africans we should not really allow over 600 million of our people to remain in darkness..
He said that without adequate electricity supply, economic development and industrialization in Africa would continue to be a mirage.