Aliko Dangote, founder of the Dangote Group, says the federal government earns 52 kobo from every N1 generated by his company’s cement business.
Speaking on Wednesday at the 2025 Taraba International Investment Summit held on May 21, Dangote highlighted the significant revenue the government derives from private investments like his.
“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,” he said.
Dangote emphasised the importance of a conducive business environment, noting that taxes are a major source of government revenue for infrastructure, education, and healthcare.
Citing the United States as an example, Dangote noted that the American government does not own oil blocks but relies on taxes from private sector activities to generate revenue.
He stated, “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.
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“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 investment is unlikely to flourish unless local investors are supported and successful, and reiterated his company’s commitment to continued investment in Nigeria to create jobs and empower local communities.
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