Jalingo, Nigeria
Aliko Dangote, Chairman of the Dangote Group, has revealed how his company shares the money from the sale of cement in the country.
Dangote said 52 kobo revenue goes to the Nigerian government from every N1 generated from the production and sale of Dangote Cement.
The entrepreneur spoke on Wednesday at the 2025 Taraba International Investment Summit.
“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 billionaire said.
He stated that governments gain from both private and public investments when they foster environments that enable businesses to thrive and contribute through 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 commit to a country unless local businesses are already succeeding.
Dangote emphasised that the group remains committed to investing in Nigeria to generate employment and uplift local communities.
