Dangote Cement Plc, a subsidiary of Dangote Industries Limited (DIL), has made significant contributions to the Federal Government’s tax revenue over three consecutive years.
The company paid a total of N412.9 billion in taxes, reinforcing Aliko Dangote’s call for prompt and accurate tax payment as a duty for all citizens.
In 2020, Dangote Cement paid N97.24 billion in taxes, followed by N173.93 billion in 2021 and N141.69 billion in 2022.
These substantial tax payments from one of Dangote Industries’ subsidiaries underscore the company’s commitment to supporting the government’s efforts to provide essential services to citizens through tax collection.
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Aliko Dangote emphasized the importance of tax payment in enabling the government to fulfill its responsibilities.
He suggested that the Nigerian government should consider automating its tax system to enhance efficiency, referencing India’s successful tax collection model.
Dangote said, “Maybe they should look at automating the tax system, just like what they did in India. If you go to India today, the country collects at least $1 trillion in various taxes. On petroleum products alone, India makes $100 billion yearly, because they charge 100 per cent on petroleum products. So, what I am suggesting is that people should pay tax and if you pay, you demand services from the government. I think it is a social contract.”
He further added that when citizens see that the government uses tax revenue for infrastructure development, education, healthcare, and other essential services, they will be more inclined to pay their taxes.
Dangote Industries Limited comprises several listed companies, and during the same period, these companies also made significant contributions to the Federal Government’s tax revenue.
Dangote Sugar Refinery Plc and NASCON Allied Industries Plc, both listed on the Nigeria Exchange Limited, paid substantial taxes during this period.
Analysis of the annual reports of Dangote’s listed companies indicated that they paid a total of N114.31 billion in taxes in 2020, N187.17 billion in 2021, and N172.15 billion in 2022.
Over these three years, Dangote Cement paid a total of N412.86 billion in taxes, Dangote Sugar Refinery paid N55.38 billion, and NASCON Allied Industries paid N5.39 billion.
These significant tax payments demonstrate the prominent role Dangote Group plays in contributing to Nigeria’s economy and income diversification, reducing the country’s dependence on oil revenue.
Dangote Industries Limited is a diversified conglomerate involved in various sectors, including cement, sugar, salt, beverages, real estate, and ongoing projects in the oil and gas, petrochemical, fertilizer, and agricultural sectors.
Dangote Cement Plc, a subsidiary of Dangote Industries Limited, is the largest cement producer in Sub-Saharan Africa, with a presence in 10 African countries. The company operates a fully integrated business model, covering manufacturing, sales, and distribution of cement.
Dangote Sugar Refinery Plc is a leading player in the Nigerian sugar industry, operating the largest sugar refining facility in Sub-Saharan Africa, with an annual installed capacity of 1.44 million metric tons.