Dangote blames North’s economic stagnation, insecurity on policy failures and chronic power crisis

President of the Dangote Group, Aliko Dangote, has attributed the North’s sluggish economic growth and rising insecurity to decades of inconsistent government policies and prolonged electricity shortages, warning that the region risks deeper crises unless leaders urgently reset its development path.

Speaking at the Arewa Consultative Forum (ACF) Silver Jubilee Dinner and Award Night in Kaduna, Dangote said repeated attempts to industrialise the North collapsed largely because government policies shifted without warning, eroding investor confidence and stalling long-term projects.

He recalled commissioning Arthur Andersen — now part of KPMG — to examine why once-prominent northern industrialists, including top textile operators, failed despite their strong early performance. The findings, he said, pointed squarely to policy inconsistency.

“Imagine you are about to score a goal and someone suddenly tells you the goalpost is behind your back. That is how unpredictable government policy has been,” he said, adding that such uncertainty crippled industries that could have anchored northern growth.

Dangote identified the power crisis as the second major constraint. He said the Dangote Group avoids connecting any of its Nigerian plants to the national grid because electricity supply remains unreliable and inadequate for industrial operations.

“The only two countries where we connect to public power are South Africa and Ethiopia. Without electricity, you cannot have growth, no matter how hard you try,” he said, describing power shortages as one of the biggest barriers to reviving manufacturing in the region.

He added that rising interest rates and the high cost of capital have further weakened the manufacturing sector, noting that industrial ventures in Nigeria are almost impossible without significant self-funding — a reality that limits new entrants.

Dangote urged northern political leaders to craft a coherent, long-term economic plan built around three pillars — education, industry and agriculture — aligning with a strategy earlier proposed by former Vice President Atiku Abubakar.

He said the North has enough land and population strength to become West Africa’s agricultural hub but remains far from that potential because of poor planning and inconsistent investment.

According to him, insecurity across the region — including banditry, youth unemployment and economic displacement — is the cumulative result of years of neglect.

“All the issues we are facing today would not be happening if we had done the right things. Every one of us shares the blame, myself included,” he said.

Dangote called on political and business leaders to confront the region’s challenges collectively, saying northern Nigeria must urgently prioritise industrial growth if it intends to tackle insecurity and create sustainable jobs.

He noted that while the ACF’s 25th anniversary was a milestone worth marking, the moment should also serve as a sober reflection of the crossroads the region faces.

“If we don’t resolve these issues, they will consume every one of us, whether we are guilty or not,” he warned.