“I’ll Invest $10bn In Power” – Dangote Says He May Quit Steel Business Within Next 3 To 4 Years
- Nigerian billionaire businessman Aliko Dangote has announced plans to invest $10 billion in the power sector within the next three to four years.
- He also said he intends to discontinue his steel business, arguing that Africa’s electricity challenges require urgent attention.
Billionaire businessman Aliko Dangote has announced plans to invest $10 billion in the power sector within the next three to four years.
Dangote, who spoke about his plans for Africa’s development, said the continent could witness major transformations during the period.
He also revealed his intention to discontinue his steel business, saying more attention should be given to solving Africa’s electricity challenges.
“In the next 3 to 4 years, Africa will witness major transformations. I intend to invest $10 billion in power but discontinue my steel business because we shouldn’t allow over 600 million Africans to sleep in darkness,” Dangote said.
His statement has since generated mixed reactions on social media, with some users questioning the scale of his proposed investment and others raising concerns about private control of critical infrastructure.
@luxevienn1: “The village you are from do thet have light abi constant light. Oga we don’t need your help before you will come and spoil everything as usual.”
@paulcolisa: “Which Africa? Nigeria’s power problem gives a big margin to other Africa’s power problem, that you may not be able to solve only Nigerias own.”
@Rza092manns: “Give 9ja light first. 👍”
@Pandian070: “For electricity wey him go capitalize, person wey no get the common man at heart..Mtchew”
@kennyfreak: “Oga go sleep joor you dey use Africa dey cash out”
@abayominnit: “How many self-made millionaires has Dangote created? It’s not his responsibility, but I’m just curious.”
@OmaiSunny: “You wan enter NEPA business too?”
@naijabillionboy: “Rich people don’t do things for free. I hope he’s not going to take electricity subsidy away for personal growth. Just saying! 🙂↔️”
@Adesinko: “Enu porrrr association looool ! You know you are not in power of doing it please !”
@PatrickObi36272: “When will you start selling the shares?”
@Reimclue: “The battle is between electricity tariffs and cost of crude oil which he’s in control of it…think outside the box thats extremely dangerous.”
@fuadoo201: “Let’s all just imagine giving a cat fish to secure hmmm just 🚶🏾♂️”
@Chiyaman_: “something as basic as power shouldn’t be put in one mans hands.”
@YunusaIbra99943: “Out of this over 600 Africans, over 200 are Nigerians.”
@BuchiRay001: “Privatisation and monopoly is dealing with Nigeria already. Future shege still dey pump up.”
@Kaylux: “If the government does not regulate certain things and remain responsible, Dangote will become too powerful and start influencing decisions.”
