Aliko Dangote, founder of the Dangote Group, says the
Nigerian government gets 52 kobo revenue from every N1 generated from the
production and sale of Dangote Cement.
Dangote spoke on Wednesday at the 2025 Taraba International
Investment Summit on May 21.
“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,” the entrepreneur said.
He said governments benefit from investments, whether
private or public, when they create conducive environments for businesses to
operate and pay taxes.
“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,” Dangote said.
“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.”
He added that foreign investors are unlikely to invest in a
country unless local investors thrive.
Dangote said the group would continue to invest in Nigeria
to create jobs and support local communities.
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