The President and Chairman of Dangote Industries Limited, Aliko Dangote, has shared five fundamental truths in Industrialising Nigeria.

Dangote gave the insight this week during the official national launch of the National Industrial Policy 2025 in Abuja, themed “From Policy to Productivity: Implementing Nigeria’s Industrial Future.

First, Dangote called on the Federal Government to urgently convene a national retreat to resolve Nigeria’s persistent electricity crisis, warning that widespread power outages are undermining the country’s industrialisation drive and economic growth.

Dangote emphasised that without stable electricity, Nigeria would struggle to create jobs, drive industrial productivity, or achieve sustainable economic growth.

“One of the things that I want to advise Your Excellency, Mr Vice President, is to call a national forum where we will have a one- or two-day retreat and resolve the issues of power. Because without power, Mr Vice President, there is no way in any country you can create growth or create jobs. So, power means growth. No power, no growth. So we must make sure that we tackle this issue,” he said.

Second, Dangote stressed that policy incentives alone were insufficient without strong infrastructure and protection of domestic industries.

“But one thing that we need is not only the policy. The policy is there. If you look at the incentives that we have for people to invest in Nigeria, actually, they are even more than what we need. The only thing that is remaining is the protection of industries.”

According to him, excessive importation remained a major threat to local manufacturing. “Even if you give us zero-interest loans, free land and power, if there is no protection, there is no way any industry will thrive here. Importation of anything is importation of poverty and exportation of jobs,” Dangote stated.

Third, Dangote also highlighted the dominance of the private sector in Nigeria’s economy, urging stronger collaboration between government and businesses.

“Nigeria is the only country in Africa where the private sector is bigger than the government. When you look at GDP, the private sector contributes almost 90 percent, compared to the government’s 10 percent,” he said.

“We have what it takes to create massive consumption, massive industry, and disposable income.

Fourth, Dangote added that entrepreneurs must also support national development by paying taxes and complying with regulations.

“When we do our business, we must pay our taxes. It is a joint venture. The government is the major shareholder in every business. Today, the government makes more money in our cement business than anybody. But that is okay, so far they allow us to expand and prosper.”

Dangote further said recent economic reforms had improved investor confidence and currency stability. “With the policies that this government has implemented, people are beginning to see the results. Manufacturers are happy.

The stability of the currency is encouraging investors to come into Nigeria,” he said.

He projected that the naira could strengthen further if import dependence is reduced.

“We should manufacture what we consume. That is the only way to create jobs. If we block unnecessary imports and support local production, the naira will get stronger,” he said.