At the 2025 Taraba International Investment Summit in Jalingo, Aliko Dangote, Africa’s wealthiest individual and Chairman of Dangote Group, revealed that the Nigerian Federal Government earns approximately 52 kobo from every N1 generated by Dangote Cement Plc. This significant contribution underscores the vital role of private enterprises in bolstering national revenue and economic development.
Dangote Cement, a subsidiary of Dangote Group, stands as Nigeria’s largest cement producer and a key player in the African construction industry. With a revenue of ₦3.58 trillion in 2024 and operations spanning multiple African countries, the company’s financial success translates into substantial tax contributions to the Nigerian government.
Dangote emphasized that the government’s share of the company’s revenue is a testament to the importance of supporting private sector growth. He noted that when businesses thrive, they not only create jobs but also generate significant tax revenues that fund public services and infrastructure.
Advocating for Government Support and Industrial Policies
During his address, Dangote called for more robust government policies to support and protect domestic industries. He argued that while the concept of a free market is essential, it should not lead to unchecked import dependence that undermines local manufacturing. Citing examples from countries like the United States and China, Dangote highlighted how strategic government interventions have historically protected and nurtured domestic industries, leading to economic growth and job creation.
He also pointed to neighboring Benin Republic’s restrictive import policies as a model for protecting local industries. Despite the proximity of his Ibese cement plant to Benin, the country limits cement imports to safeguard its domestic producers.
Over the past seven years, Dangote Group has invested more than $25 billion in Nigeria’s oil, gas, cement, and sugar sectors. These investments aim to reduce the country’s reliance on imports, create jobs, and stimulate economic growth.
In the sugar industry, for instance, Dangote disclosed a $700 million investment to end raw sugar importation into Nigeria. This initiative involves land acquisition, machinery, infrastructure, and manpower development to boost local sugar production.
Enhancing Tax Collection and Economic Diversification
Dangote praised the Federal Government’s efforts to improve tax collection and block revenue leakages. He highlighted that Dangote Cement pays about $300 million weekly in Value Added Tax (VAT) alone. He stressed the need for a broader tax base and the importance of ensuring that all businesses contribute their fair share to national revenue.
The Federal Government, in turn, has lauded Dangote Group’s role in diversifying Nigeria’s economy. The company’s investments have been instrumental in reducing the country’s dependence on oil and gas, promoting industrialization, and creating employment opportunities.
