Aliko Dangote unveils 20,000MW power plant plan and eyes dollar bond financing

Nigeria’s richest man, Aliko Dangote, announced a plan to build a 20,000 MW power plant, which would more than double the country’s current installed capacity of about 13,000 MW. The project is part of a broader industrial push that includes expanding fertilizer production to 12 million tonnes of urea by 2030, opening potash and phosphate mines in the Democratic Republic of Congo and Brazil, constructing Africa’s largest deep‑sea port, and developing LNG operations.

Dangote’s conglomerate is also seeking additional dollar‑denominated bond placements to fund these investments. After a $750 million private bond placement for its fertilizer arm in April, the group aims to raise further capital from global investors, aligning financing with subsidiary dollar revenues and supporting long‑term capital programmes. The company’s five‑year investment target is at least $40 billion, covering the power plant, the deep‑sea port, and a potential IPO of about 10 % of its oil refinery. Details on financing terms and timelines for the power project were not disclosed.