- Aliko Dangote, founder of the multinational industrial conglomerate Dangote Group, says erratic power supply is killing Nigeria’s industries and the economy.
- Dangote was taking part in a consultative roundtable titled, “Going for Growth” in Lagos last week.
- He also identified a lack of policy implementation as the biggest challenge in the country.
“How do you have economic growth without power? No power; no growth because without power there can’t be growth. “Egypt increased its electricity by 10 gigawatts, which is equivalent to 10,000 megawatts in 18 months” he said.
“In Nigeria, we have been struggling for 18 years without adding 1,000 megawatts and we have spent about three times above Egypt, why?
“So, I think we all need to be concerned about that.”
Dangote also called for a public-private partnership to boost the non-oil sector of the economy and added that Nigerians should invest in the development of the non-oil sector which had been left in the hands of foreigners.
“Government need to encourage non-oil sector growth rather than depending on proceeds from crude oil to pay salaries.
“Proceeds from crude oil sale should be for major investment in the country,” he added.
He urged the federal government to improve more on the power sector, saying, “No business will thrive with business owners generating powers themselves.”
Mr. Dangote said that all stakeholders must come together and support the government in finding a solution to power challenges in the country.
Author: GBA News Desk
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