- Alhaji Aliko Dangote says erratic power supply is killing Nigeria’s industries and the economy
- Dangote said that all stakeholders must come together and support the government in finding solution to power challenges in the country
- The chairman of Dangote group also identified a lack of policy implementation as the biggest challenge in the country
The president of the Dangote group, Alhaji Aliko Dangote, has lamented the electricity woes of the country.
Dangote said this on Saturday, June 8, in Lagos at a consultative roundtable titled, “Going for Growth” with some economic stakeholders.
According to him, availability of consumer credit facility is an important option in fighting corruption in the country.
He said that the Central Bank of Nigeria (CBN) and commercial banks should develop consumer credit products to encourage low income earners engage in loan taking.
Dangote also identified lack of policy implementation as the biggest challenge in the country.
He said, “How do you have economic growth without power? So, no power, no growth because without power there can’t be growth.
“Egypt increased its electricity by 10 gigawatts, which is equivalent to 10,000 megawatts in 18 months.
“In Nigeria, we have been struggling for 18 years without adding 1,000 megawatts and we have spent about three times above Egypt, why?
“So, I think we all need to be concerned about that.”
Dangote advised that the country needed to promote import substitution for foreign exchange accumulation through proceeds from exports.
He called for public-private partnership to boost the non-oil sector of the economy, and added that Nigerians should invest in the development of the non-oil sector which had been left in the hands of foreigners.
He urged the federal government to improve more on the power sector, saying “no business will thrive with business owners generating powers themselves.”
Dangote said that all stakeholders must come together and support the government in finding solution to power challenges in the country.
Apart from power, Dangote suggested that government focuses more on three areas which include finance, manufacturing and agriculture.
According to him, Asian Tigers concentrated on these three sectors for them to be where they are.
Meanwhile, Legit.ng had reported that the Enugu Electricity Distribution Company (EEDC) said that prepaid metres are now officially for sale by the company.
The company's head of communication, Emeka Ezeh, made the disclosure in a statement, in which he described it as Meter Asset Provider (MAP) programme.
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