Aliko Dangote, Africa’s richest businessman, has announced that the Dangote Group is preparing to expand into large-scale power generation, with plans targeting up to 20,000 megawatts.
He made the disclosure during an interview on Wednesday with Makhtar Diop of the International Finance Corporation (IFC), where he discussed the group’s growing investment portfolio across Africa.
According to him, the planned power project is part of a broader strategy to address the continent’s energy deficit, as Nigeria currently generates only about 4,000–4,500MW despite having installed capacity above 13,000MW.
Aliko Dangote also highlighted other major investments by the group, including fertiliser production, liquefied natural gas (LNG), mining operations, agriculture, and deep-sea port development.
Reflecting on the journey of his $20 billion refinery project, Dangote said the venture was initially met with widespread doubt, with many believing it would never materialise. He noted that the refinery, which he described as a major milestone, is now operational and has a production capacity of about 650,000 barrels per day.
He said the experience has strengthened his belief in investing heavily within Africa, stressing that real progress comes from showing confidence in the continent through action rather than words.
Aliko Dangote added that the group is scaling up fertiliser production to about 12 million tonnes annually, while also developing mining assets in countries such as Congo and Brazil, alongside LNG projects and one of the continent’s largest deep-sea ports.
He further stated that improved cash flow has given the conglomerate more financial flexibility to pursue new projects aimed at closing Africa’s infrastructure and industrial gaps.
However, he noted that the success of such investments also depends on African countries addressing structural trade and policy barriers that continue to limit economic growth.
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