Aliko Dangote, Chairman of the Dangote Group, has revealed that the federal government earns 52 kobo for every N1 generated from the operations of Dangote Cement. Dangote highlighted the significant revenue the government derives from private sector activities while speaking 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,” Dangote said.
Dangote noted that 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.”
He cited global examples, pointing out that even in highly developed countries like the United States—the world’s largest oil producer—the government doesn’t directly own oil blocks. Instead, it generates revenue through a well-structured taxation system. “Have you ever heard of the American government owning an oil block? No. But they make their money through taxes.”
The Dangote Group chairman added that foreign investors are unlikely to invest in a country unless local investors thrive. He reaffirmed the group’s commitment to continued investment in Nigeria as a means to boost employment and support local communities ¹ ².
