Aliko Dangote Warns “No Power, No Growth” — Predicts ₦1,000/$ Naira by 2026 and Confirms Major Succession Move

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Africa’s richest businessman, Aliko Dangote, has ignited fresh national debate after delivering a blunt warning on Nigeria’s electricity crisis and projecting a dramatic shift in the value of the Naira.

Speaking at the launch of the National Industrial Policy 2025 in Abuja, the President of the Dangote Group did not mince words about what he described as the single greatest obstacle to Nigeria’s industrial transformation.

“No power, no growth,” Dangote declared, stressing that reliable and affordable electricity remains fundamental to manufacturing expansion, large-scale job creation, and sustainable economic development. He argued that without stable power supply, factories will continue to depend on costly alternative energy sources, eroding competitiveness and slowing industrial progress.

His remarks come at a time when businesses across Nigeria are grappling with high operating costs, inflationary pressure, foreign exchange volatility, and energy shortages. Analysts say power sector reform remains central to unlocking the country’s full industrial potential.

Dangote also made a bold projection about the Naira, suggesting that ongoing forex reforms and tighter import controls could significantly strengthen the currency. According to him, the Naira could trade as low as ₦1,100 per dollar within the year and potentially appreciate further to ₦1,000/$ by the end of 2026, depending on policy direction and market adjustments.

The forecast has triggered mixed reactions among economists and financial analysts. Some argue that reduced import dependency and stronger local production could ease pressure on foreign reserves and support currency stability. Others caution that rapid currency appreciation could pose challenges for exporters and sectors reliant on dollar inflows, requiring careful policy calibration.

In a separate but equally significant development, Dangote confirmed a major leadership transition within his business empire, formally assigning expanded responsibilities to his three daughters as part of a structured succession strategy.

Halima Aliko Dangote will oversee the Dangote Family Office and International Offices, including expansion initiatives in Dubai.
Fatima Aliko Dangote has been entrusted with the oil and gas portfolio, including oversight of the landmark Dangote Refinery and petrochemicals operations.
Mariya Aliko Dangote will lead commercial operations for the cement and foods businesses, focusing on market expansion and operational efficiency.

The leadership shift signals a new phase for Africa’s largest industrial conglomerate and underscores a deliberate generational transition strategy designed to preserve continuity and long-term stability.

With Nigeria navigating inflation, currency pressures, and structural infrastructure challenges, Dangote’s twin announcements — a forceful economic warning and a strategic corporate succession move — have once again positioned him at the center of national economic discourse. Whether his currency forecast materializes or not, his message on power reform reinforces a point many industry leaders echo: without reliable electricity, industrial growth may remain constrained.