Aliko Dangote, Africa’s richest man and head of the Dangote Group, has announced plans to invest in a 20,000-megawatt power generation project aimed at addressing Nigeria’s long-standing electricity crisis.
He revealed the proposal during a conversation with International Finance Corporation Managing Director Makhtar Diop, stating that energy is one of Africa’s most urgent needs alongside fertiliser and industrial inputs.
The move marks a major expansion beyond Dangote’s existing focus on oil refining, cement, and fertiliser. It follows the commissioning of his 650,000-barrel-per-day refinery in Lekki, which is now being scaled toward 1.4 million barrels per day.
Dangote said stronger cash flow and a lighter balance sheet have put the group in a position to fund the capital-intensive project.
If delivered, the 20,000MW addition would far exceed Nigeria’s current installed capacity of about 13,000MW, most of which remains unreliable due to transmission and fuel shortages. Actual supply often hovers near 3,331MW, leaving much of the country dependent on diesel generators.
Dangote framed the investment as part of a broader push to fix Africa’s structural problems by leading large-scale industrial development.
The billionaire also outlined other expansions, including raising fertiliser output to 12 million tonnes of urea and developing potash and phosphate mines in Congo and Brazil, along with a deep-sea port and LNG projects.
He has previously said Nigeria should be generating 50,000–60,000MW, arguing that private sector participation is both necessary and achievable.
