Versatile mogul, Aliko Dangote, has said that the Federal Government earns more from money generated by his cement company than what the business itself gets.
According to him, FG earns 52k from every one naira generated, suggesting only 48k is retained by the company.
The Dangote Group founder made the disclosure while speaking at the 2025 Taraba International Investment Summit held on Wednesday, May 21.
In his address, Dangote highlighted the critical role taxes play in national development, noting that government revenue from private sector operations significantly contributes to the provision of essential services. “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 FG,” he said.
Dangote emphasized that governments benefit more from creating an enabling environment for businesses than from attempting to manage enterprises directly. “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 remarked.
Drawing a comparison with the United States, Dangote noted that despite being the world’s largest oil producer, the U.S. government does not own oil blocks but relies on taxes from private operators. “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.
Dangote further stressed the importance of supporting domestic investors to attract foreign capital. According to him, international investors are more inclined to enter markets where local businesses are already thriving. He reaffirmed the Dangote Group’s commitment to investing in Nigeria, creating jobs, and uplifting local communities.
