Chairman of the Dangote Group, Aliko Dangote, has revealed that the Federal Government of Nigeria earns as much as 52 kobo from every N1 generated through the operations of Dangote Cement — underscoring the importance of private sector contributions to national revenue.
Dangote made this disclosure on Wednesday at the 2025 Taraba International Investment Summit, held in Jalingo.
Themed “Unlocking Taraba’s Investment Potentials: Advancing Agriculture, Energy, Mining, and Industrialisation for Sustainable Growth and Development”, the summit aimed to attract both local and foreign investment to boost the state’s economy.
Addressing the audience, Dangote emphasised that enabling environments for business are critical for government revenue generation, especially through taxes.
“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,” he said.
He added that while the popular sentiment is that governments should not be involved in business, taxation of successful businesses remains one of the most viable means for governments to fund development.
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“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 noted.
Drawing a comparison with the United States, 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.”
His remarks come amid growing calls for Nigeria to expand its tax base, promote ease of doing business, and diversify revenue away from over-reliance on oil.
The billionaire’s presence at the summit further reinforced the role of private capital in driving economic growth and regional development, especially in sectors like cement, agriculture, and energy.