Teddy Nwanunobi, Abuja
African business heavyweight and President of Dangote Group, Aliko Dangote, has called for a joint effort between government and private sector to tackle the power deficit remained a key element in boosting the economy of Africa.
Dangote spoke to the audience at the ongoing World Economic Forum (WEF) holding in Davos, Switzerland.
He also spoke about his efforts at contributing to lightening up Africa starting from Nigeria was one of the panelists at a discussion on closing the power gap in Africa organised by the CNBC, a renowned Satellite Business Television Channel.
The businessman also advised African governments to imbibe policy consistency, and avoid summersault, which he said often times scuttle the business plan of investors and discourages others from investing in the sector.
Dangote, who is investing heavily in power with his $12 billion refinery and petrochemical project, said part of his project in Lagos is laying of sub-sea gas pipeline from Niger Delta to Lagos to provide 3 billion cubic feet of gas that can generate 12, 000 mw of electricity.
Other panelists at the discussion include, President of African Development Bank, Akinwunmi Adesina; Deputy President of South Africa, Cyril Ramaphosa; and Special Representative of the United Nation, Rachel Kyte.
Dangote said government must galvanise the private sector in the provision of stable power in Africa “and that at the end, it would be a win-win situation because when power is available a lot of people will put to work and government revenue will also increase.”
According to him, his company signed a $5 billion collaborative agreement with Blackstone to generate power, and that while the private sector is investing, the role of government would be to provide the operational framework and conducive environment for the investment to thrive.
