Business mogul Aliko Dangote has said Nigeria’s electricity output is far too low for a country of its size and potential. He argued that if his own company can generate over 1,500 megawatts of power for its operations, there’s no reason why the entire nation should be struggling with just 4,500 to 5,000MW.

Speaking during a visit to the Dangote Refinery in Lagos, he said Nigeria should be targeting between 50,000 and 60,000 megawatts of power to drive real development.

“What we’ve achieved here at the refinery shows that Nigeria is capable of handling big, complex projects — including fixing our power sector,” he said.

Dangote also pointed out that increasing power generation is even less difficult than what it took to complete the refinery, suggesting that more can be done if the private sector gets more involved.

He stressed that power supply is not solely the government’s responsibility, especially since the sector has already been privatised. He urged wealthy Nigerians to stop taking money out of the country and instead invest in critical infrastructure at home.

“We need to show confidence in our economy. If we don’t believe in our own country, why should any foreign investor?” he said.

He criticised capital flight and the habit of hiding public funds abroad, saying such actions do nothing to support Nigeria’s growth.

Dangote also revealed plans to become the world’s top fertiliser producer within the next few years by ramping up production to 12 million tonnes.

He maintained that with the right mindset and local investment, Nigeria can overcome its power challenges and unlock faster development.