Aliko Dangote, Chairman of the Dangote Group, has revealed that the federal government earns 52 kobo for every N1 generated from the operations of Dangote Cement.
Gatekeepers News reports that Dangote highlighted the significant revenue the government derives from private sector activities while speaking at the 2025
Taraba International Investment Summit on Wednesday, 21 May.
He said, “I’m sure it might be shocking to you to know that the federal government of Nigeria, not even the state, makes more money from, for example, our cement business. For every N1 we turn around, 52 kobo goes to the federal government of Nigeria.”
Dangote noted that governments benefit from investments, whether private or public when they create conducive environments for businesses to operate and pay taxes.
He said, “We always say that the government has no business in business. If it’s true, they don’t have business in business. Though, how are they going to make money, educate people, you know, do the hospital, road, infrastructure? It’s through what? Taxes.”
“Have you ever heard of the American government owning an oil block? No, the American government doesn’t own an oil block.”
“And they are the biggest producers of oil today in the world. But they make their money through taxes.”
The Dangote Group chairman added that foreign investors are unlikely to invest in a country unless local investors thrive.
He reaffirmed the group’s commitment to continued investment in Nigeria as a means to boost employment and support local communities.
