Chairman of the Dangote Group, Aliko Dangote, has revealed that the Federal Authorities of Nigeria earns as a lot as 52 kobo from each N1 generated via the operations of Dangote Cement — underscoring the significance of personal sector contributions to nationwide income.
Dangote made this disclosure on Wednesday on the 2025 Taraba Worldwide Funding Summit, held in Jalingo.
Themed “Unlocking Taraba’s Funding Potentials: Advancing Agriculture, Vitality, Mining, and Industrialisation for Sustainable Progress and Improvement”, the summit aimed to draw each native and overseas funding to spice up the state’s financial system.
Addressing the viewers, Dangote emphasised that enabling environments for enterprise are important for presidency income era, particularly via taxes.
“I’m certain it may be surprising to you to know that the federal authorities of Nigeria, not even the state, makes more cash from, for instance, our cement enterprise. For each N1 we flip round, 52 kobo goes to the federal authorities,” he mentioned.
He added that whereas the favored sentiment is that governments shouldn’t be concerned in enterprise, taxation of profitable companies stays probably the most viable means for governments to fund improvement.
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“We at all times say that the federal government has no enterprise in enterprise. If it’s true, they don’t have enterprise in enterprise. Although, how are they going to generate income, educate individuals, you already know, do the hospital, highway, infrastructure? It’s via what? Taxes,” he famous.
Drawing a comparability with america, Dangote mentioned, “Have you ever ever heard of the American authorities proudly owning an oil block? No, the American authorities doesn’t personal an oil block. And they’re the largest producers of oil right this moment on the earth. However they make their cash via taxes.”
His remarks come amid rising requires Nigeria to develop its tax base, promote ease of doing enterprise, and diversify income away from over-reliance on oil.
The billionaire’s presence on the summit additional bolstered the function of personal capital in driving {economic} progress and regional improvement, particularly in sectors like cement, agriculture, and vitality.
