Africa’s richest man and billionaire Aliko Dangote revealed that unstable electricity supply and inconsistent government policies continue to be major challenges for Nigeria’s industrialization.
Dangote stated this during a visit to the Dangote refinery in Lekki, Lagos State by Zambian Minister of Energy Makozo Chikote.
According to him, his company’s most successful cement mill is the one in Ethiopia because of its steady power supply.
He explained that without electricity supply, businesses cannot thrive.
“If there’s no power, there won’t be growth. For example, anything I’m going to do abroad will cost me maybe 30 percent cheaper than here, because abroad is plug-and-play.
“You just go, no infrastructure construction. You just build a factory, and you connect to the network; that’s all.
“That’s why, if you look at it today, I tell you that our most profitable cement factory is in Ethiopia because there’s no investment in power. They gave us power at the same rate for five years. So, we plan, It’s a one-price electricity continuously.
“One of the problems of industrialisation is inconsistencies in government policies, where, just like a footballer, you’re about to score the goal, and the government will remove the goalpost and point behind you that the goalpost is behind. So, you have to now turn. Once you turn back, you have a lot of challenges to get to that goalpost again,” he stated.
A Gentle Reminder: Every obstacle is a stepping stone, every morning; a chance to go again, and those little steps take you closer to your dream.
Nnamdi Okoli