Aliko Dangote, the founder and president of the Dangote Group, shared a surprising revelation during his speech at the 2025 Taraba International Investment Summit held on Wednesday, May 21. He disclosed that the Nigerian federal government earns a mere 52 kobo in revenue for every naira generated from the production and sale of Dangote Cement.
In his address, Dangote underscored the pivotal role of taxes in national development. He emphasized that government revenue from private sector operations significantly contributes to the provision of essential services. Dangote drew attention to the fact that the federal government of Nigeria, not even the state, generates more revenue from their cement business compared to other sectors. For every naira generated, 52 kobo goes to the federal government.
Dangote further highlighted the benefits of creating an enabling environment for businesses rather than attempting to manage enterprises directly. He emphasized that the government has no business in business operations. However, he acknowledged the need for taxes to fund various public services such as education, healthcare, and infrastructure.
Drawing a comparison with the United States, Dangote pointed out that despite being the world’s largest oil producer, the U.S. government does not own oil blocks but relies on taxes from private operators. He emphasized that the U.S. government’s success as a major oil producer stems from its reliance on taxes rather than direct ownership of oil blocks.
Dangote underscored the importance of supporting domestic investors to attract foreign capital. He argued that international investors are more likely to invest in markets where local businesses are already thriving. Dangote reaffirmed the Dangote Group’s commitment to investing in Nigeria, creating jobs, and uplifting local communities.
