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Africa’s richest man and founder of the Dangote Group, Aliko Dangote, has disclosed that the Nigerian federal government earns 52 kobo for every ₦1 generated by his cement business. He made the revelation during the 2025 Taraba International Investment Summit, held on Wednesday, May 21.
In his address at the summit, Dangote emphasized the vital role taxation plays in national development, pointing out that a significant portion of government revenue is derived from private sector operations.
“It might surprise you to learn that the federal government, not even the states, earns more from our cement business than we do. For every naira we generate, 52 kobo goes to the federal government,” he said.
Dangote reiterated his long-held view that government should focus on enabling businesses rather than running them.
“We’ve always said government has no business in business—and that’s true. But then, how does the government fund education, healthcare, roads, and other infrastructure? The answer is through taxes,” he explained.
Drawing an international comparison, the billionaire industrialist referenced the United States as an example of effective tax-based revenue generation. Despite being the world’s largest oil producer, Dangote noted, the U.S. government doesn’t own oil blocks but relies on taxes from private oil companies.
“Have you ever heard of the American government owning oil blocks? No. Yet they are the biggest oil producers globally. Their income comes from taxing private operators,” he added.
Dangote also stressed the need to empower local investors as a way to attract foreign direct investment. According to him, international investors are more likely to invest in countries where domestic businesses are thriving.
He concluded by reaffirming the Dangote Group’s commitment to investing in Nigeria, creating jobs, and contributing to the growth of local communities.
