Dangote Cries Out About Problems Hindering Nigeria From Industrialization

Africa’s richest man, Aliko Dangote, has identified unstable electricity supply and inconsistent government policies as the biggest obstacles to industrialization in Nigeria.

Dangote made this statement during a visit by Zambia’s Minister of Energy, Makozo Chikote, to the Dangote Refinery in Lekki, Lagos.

He highlighted that his most profitable cement factory is in Ethiopia, attributing its success to the country’s stable power supply.

“If there’s no power, there won’t be growth. For example, anything I’m going to do abroad will cost me maybe 30 percent cheaper than here, because abroad is plug-and-play.

“You just go, no infrastructure construction. You just build a factory, and you connect to the network; that’s all.

“That’s why, if you look at it today, I tell you that our most profitable cement factory is in Ethiopia because there’s no investment in power. They gave us power at the same rate for five years. So, we plan, It’s a one-price electricity continuously.

“One of the problems of industrialisation is inconsistencies in government policies, where, just like a footballer, you’re about to score the goal, and the government will remove the goalpost and point behind you that the goalpost is behind. So, you have to now turn. Once you turn back, you have a lot of challenges to get to that goalpost again,” he stated.