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.
