Aliko Dangote, the president and CEO of the Dangote Group, stated that the company produces up to 1,540 megawatts for manufacturing across all of its businesses.
Dangote revealed this on Thursday as he was a Special Guest at a fireside conversation with the Prime Minister of Grenada.
Dangote claimed that rather than being dependent on Nigeria’s inadequate and unstable power supply, he invested in power generation in order to attain energy independence and sufficiency.
He claimed that just as he was getting ready to move from trade only to production, business experts gave him advice on the choice.
“The second issue has to do with electricity. And the only way we could think of to address this was to decide that all of our enterprises would generate their own power. Thus, when you consider it collectively, we are producing our own power—1540 megawatts of self-consumed power—today,” he stated.
Grenada is 30 times less powerful than Dangote Group.
The 1,540 electricity generated by the Dangote Group is 30 times more than Grenada, a Caribbean island nation.
Dickon Mitchell, the prime minister of Grenada, said he was impressed by the Dangote Group’s ability to produce electricity, pointing out that the nation produces 50 megawatts.
He said that Grenada was producing 50 megawatts of electricity overall.
He continued in astonishment, “So, your businesses generate more power than the entire island.”
Big manufacturing businesses generate power
Nigeria’s national grid has long been abandoned by many large manufacturing enterprises because of its insufficient electricity and frequent failures.
- The high cost of energy resulting from an insufficient and unstable supply from the national grid is the main issue facing Nigeria’s manufacturing industry.
- Many businesses are self-generating through a varied energy mix, according to industry experts.
In the first half of 2024, Nigerian manufacturers spent N238.31 billion on alternative energy sources, according to the Manufacturers Association of Nigeria.
What To Note
- Nigeria can produce roughly 10,000 megawatts of electricity each day, but it only produces 5,000 MW since it is underutilised.
- This hinders industrialisation and is insufficient for its 200 million+ inhabitants.
- Due to the nation’s energy poverty, many businesses have been compelled to relocate to other nations with more stable, dependable, and reasonably priced power supplies.
