President and Chairman of Dangote Industries Limited, Aliko Dangote, has called on the Federal Government to urgently convene a national retreat to resolve Nigeria’s lingering electricity crisis, warning that unstable power supply could derail industrial growth and economic development.
Dangote made the call in Abuja during the national launch of the National Industrial Policy 2025, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.” The event was attended by top government officials, captains of industry, and development partners, with President Bola Tinubu represented by Vice President Kashim Shettima.
Addressing participants, Dangote stressed that without reliable electricity, Nigeria would struggle to create jobs, expand manufacturing, and achieve sustainable economic growth.
He said power supply remained the single most critical factor limiting industrial productivity, urging the government to treat the crisis as a national emergency.
According to him, a one or two-day national retreat focused entirely on resolving power challenges would help generate actionable solutions capable of transforming the economy.
Dangote noted that although government policies aimed at promoting industrialisation were commendable, their impact would remain limited unless the electricity challenge was decisively addressed.
He explained that while Nigeria possesses a massive market and attractive policy incentives, unstable power supply forces manufacturers to rely heavily on self-generated electricity, significantly raising production costs.
He added that many factories now spend more on generating electricity than on actual production, describing the situation as economically unsustainable.
The billionaire businessman also warned that excessive importation continued to threaten domestic manufacturing, stressing that weak industrial protection policies expose local producers to unfair competition.
He said uncontrolled imports destroy jobs, weaken local industries, and worsen poverty, calling on the government to strengthen policies that shield domestic manufacturers from dumping and unfair trade practices.
Dangote further urged closer collaboration between government and the private sector, noting that businesses contribute nearly 90 per cent of Nigeria’s gross domestic product, while government accounts for about 10 per cent.
He stated that improved electricity supply, coupled with supportive industrial policies, would unlock massive investment, boost job creation, and strengthen the national currency.
Dangote also commended recent economic reforms, saying they had begun to stabilise the naira and improve investor confidence, but stressed that reducing import dependence remained key to achieving long-term economic stability.
His remarks followed a recent nationwide power disruption triggered by gas maintenance activities, which caused widespread outages across several states and intensified concerns among manufacturers and businesses.
Industry stakeholders have consistently warned that recurring power failures force companies to depend on diesel and alternative energy sources, driving up production costs and contributing to inflation.
Dangote concluded by urging urgent reforms in the power sector, stating that stable electricity supply remains fundamental to Nigeria’s industrial future and overall economic prosperity.
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