Aliko Dangote, Africa’s richest man, has revealed that the Federal Government of Nigeria earns as much as 52 kobo from every N1 generated by his cement company.
- Aliko Dangote, Africa’s richest man, disclosed that the Nigerian Federal Government earns substantial revenue from his cement company.
- His cement company operates across over 10 countries and has significantly reduced Africa’s reliance on imported cement.
- Dangote pledged continued investment in Nigeria, highlighting the importance of job creation and societal impact.
Aliko Dangote, Africa’s richest man, has revealed that the Federal Government of Nigeria earns as much as 52 kobo from every N1 generated by his cement company.
He made this known at the Taraba International Investment Summit 2025 in Jalingo.
Speaking at an investment forum, Dangote stressed the importance of government support for private enterprises, noting that when businesses thrive, the country benefits significantly through tax revenue and job creation.
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What Dangote said:
“You know, I’m sure it might be shocking to you to know that the federal government of Nigeria, not even the states, makes more money from, for example, our cement business,” he said. For every one naira we turn around, 52 kobo goes to the federal government of Nigeria.”
Dangote Cement is Africa’s largest cement producer, operating in over 10 countries, including Nigeria, Ethiopia, Tanzania, and South Africa. The company has a production capacity of over 51 million metric tons per year, helping to reduce Africa’s reliance on imported cement, according to estimates.
Dangote used the opportunity to reiterate his long-standing position that while governments are not meant to run businesses, they play a crucial role in creating an enabling environment for enterprises to grow.
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“Governments don’t have to own businesses to generate income,” he 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 said the only way to grow the economy and create wealth is through the private sector, and that government and businesses must work closely together. Dangote also promised that his company would keep investing in Nigeria.
“We are not going anywhere to invest, this is home. We want to remain at home. We want to keep investing in Nigeria. We want to keep creating jobs. At the end of the day, no one will take a dime to the grave. What gives us true satisfaction as human beings is knowing we’ve impacted the lives of others,” he stated.
