Nigeria Govt Makes 52k From Every N1 Generated From Sale Of My Cement-Dangote
LAGOS MAY 23RD (NEWSRNAGERS)-The chairman of Dangote Group, Aliko Dangote, has revealed that the federal government makes 52 kobo from every N1 generated from the production and sale of Dangote Cement.
Dangote disclosed this on Wednesday at the 2025 Taraba International Investment Summit, with the theme: ‘Unlocking Taraba’s Investment Potentials, Advancing Agriculture, Energy, Mining, and Industrialisation for Sustainable Growth and Development’.
According to the entrepreneur, the summit’s focus was apt, given the need to diversify the state’s economy and attract investors.
He said governments benefit from investments, whether private or public, when they create conducive environments for businesses to operate and pay taxes.
The billionaire businessman 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.
“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.”
DailyTrust
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Posted by News Rangers
on May 23 2025. Filed under Business, National.
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