Aliko Dangote, the richest man in Africa and a billionaire, has disclosed that inconsistent government policies and an unpredictable electrical supply continue to be important obstacles to Nigeria’s industrialization.

When Zambian Energy Minister Makozo Chikote recently visited the Dangote refinery in Lekki, Lagos State, Dangote made this clear.

He claims that because of Ethiopia’s reliable power supply, his company’s cement mill there is the most profitable.

He clarified that companies cannot expand without a power source.

“Growth is impossible without power. For instance, because everything is plug-and-play overseas, everything I do there will likely cost me about 30% less than it would here.

“You simply leave without building any infrastructure. All you have to do is construct a factory and connect to the network.

Therefore, if you look at it now, I can tell you that Ethiopia has our most profitable cement factory because there is no power investment there. For five years, they provided us with power at the same rate. Therefore, we intend to constantly offer electricity at a same price,” he stated.

He went on to say that another barrier to industrialization was inconsistent government policy.

“Inconsistencies in government policies are one of the issues of industrialization,” he stated.