Aliko Dangote, founder of the Dangote Group, shared an interesting revelation at the 2025 Taraba International Investment Summit on May 21. He explained that for every one naira generated through the production and sale of Dangote Cement, the Nigerian federal government earns 52 kobo in tax revenue. Dangote highlighted the significant role taxes play in supporting national development, noting that revenue from private companies is crucial for funding essential public services.
He further pointed out that while the government does not directly run businesses, it benefits greatly from creating an environment that supports private enterprise. Dangote emphasized that the government should focus on fostering business growth instead of trying to run businesses themselves, as taxes from successful businesses fund public infrastructure, education, and healthcare.
Drawing a parallel with the United States, Dangote explained that even though the U.S. is the world’s largest oil producer, the government does not own oil blocks but relies on taxes from private operators. He suggested that Nigeria could benefit from a similar approach, where the government gains from supporting local businesses.
Dangote also stressed the importance of strengthening local businesses to attract foreign investments. He believes international investors are more likely to invest in markets where domestic businesses are already thriving. The industrialist reaffirmed his commitment to investing in Nigeria, creating jobs, and contributing to the growth of local communities.
