LAGOS, May 6 – Aliko Dangote, Africa’s richest man has unveiled plans for a 20,000-megawatt power project, marking a significant expansion of his industrial footprint beyond refining, cement and fertiliser production.
Speaking in an interview with Makhtar Diop of the International Finance Corporation, Dangote said the move is part of a broader strategy to address Africa’s most critical infrastructure gaps, particularly in energy.
“We are now going into power… 20,000 megawatts,” he said, underscoring the scale of the planned investment.
A project of that size would have far-reaching implications for Nigeria’s electricity sector, where installed capacity stands at roughly 13,000MW but actual output remains significantly lower due to persistent infrastructure constraints.
“And the needs of Africa are petroleum products, fertilisers,” Dangote said. “Today, in about two and a half years, we will be the largest fertiliser company in the world. We are putting up 12 million tons of urea. We are opening up mines of potash and phosphate in Congo Brazzaville. We are building the biggest deep-sea port with an 18-meter draft. We are doing LNG.”
The billionaire said the group’s strong cash flow position and improved financial flexibility are enabling the next phase of growth. “Our cash flow now is very, very strong,” he noted, adding that the company is increasingly positioned to raise capital for large-scale projects.
“We are now actually free of assets, and we can actually raise more money. Our cash flow now is very, very strong,” he said.
The announcement follows the continued ramp-up of the Dangote Petroleum Refinery, which currently has a capacity of 650,000 barrels per day and is being scaled toward 1.4 million barrels per day.
The planned power investment signals a strategic shift toward integrated infrastructure development, with the potential to reshape energy supply dynamics not only in Nigeria but across the wider African market.
