Aliko Dangote, the CEO of Dangote group has made a significant statement, amidst Nigerians concerns on the cost of cement, a key component of the housing and infrastructural development in the country.
The esteemed founder of the Dangote Group, recently highlighted a significant aspect of Nigeria’s economy during the 2025 Taraba International Investment Summit held on May 21.
He revealed that the federal government benefits substantially from the cement sector, with 52 kobo of every N1 earned from the production and sale of Dangote Cement going directly to government revenue. A disclosure that implies that the Federal Government takes higher share of profits made from his cement production by taking 52kobo leaving 48 kobo for the company as profit.
This statistic may come as a surprise to many, as it underscores the extent to which the government capitalizes on the successes of private enterprises.
Dangote emphasized the importance of a supportive business environment, noting that both private and public investments thrive when governments foster conditions conducive to growth. He articulated a common sentiment in the business community, stating that while governments claim to have no business in business, their revenue streams—essential for funding education, healthcare, and infrastructure—largely come from taxes levied on corporations.
Drawing a comparison with the United States, Dangote pointed out that the American government does not own oil blocks, yet they remain the world’s largest oil producers, generating revenue primarily through taxation. This model illustrates how a conducive business climate can lead to prosperity not just for businesses but also for the government and society at large.
Furthermore, Dangote expressed his commitment to continuing investments in Nigeria, emphasizing the importance of creating jobs and supporting local communities. He noted that for foreign investors to consider entering the Nigerian market, it is crucial that local businesses succeed and thrive. This statement reflects his belief in the interconnectedness of local and foreign investment, and the vital role that a healthy domestic economy plays in attracting international interest.