Aliko Dangote has committed $2 billion to develop a 250MW solar power plant and a fuel storage terminal in The Gambia. The investment comes as the country works to strengthen an electricity sector where available generation capacity had dropped below 40MW by early 2025, while 57% of its electricity supply came from imports during the first quarter of the year.
Dangote announced the investment on 7 July during a meeting with President Adama Barrow at the State House in Banjul. The meeting took place alongside the African Caucus 2026 meetings, an annual forum that brings together African finance ministers and the World Bank. The Gambia is hosting this year’s event as part of its efforts to attract investment.
Olusegun Alebiosu, Chief Executive of First Bank Group, joined Dangote during the meeting. First Bank Group is providing financial backing for the project.
The partnership brings together Nigerian industrial investment and financing for a major power project in West Africa, with both the investor and financial institution based on the continent.
The planned 250 MW solar power plant would significantly expand The Gambia’s power generation capacity. The National Water and Electricity Company (NAWEC) has between 90MW and 99MW of installed capacity, but ageing infrastructure has reduced the amount of electricity it can reliably generate.
The Gambia currently relies on electricity imports from Senegal and Guinea to meet much of its demand. Its largest solar project under construction, the 150MW Soma solar plant, is expected to be completed in 2030.
The proposed fuel storage terminal would strengthen the country’s ability to manage fuel supplies and respond to potential disruptions. The project also comes as the Dangote Refinery continues to influence fuel trade across West Africa. Any impact on fuel prices in Banjul, however, will depend on commercial agreements rather than location alone.
source: businessfront.com
African Energy Council