During the 2025 Taraba International Investment Summit, Aliko Dangote, Chairman of Dangote Group, revealed that the federal government receives 52 kobo for every N1 generated from the production and sale of Dangote Cement.
The summit, themed ‘Unlocking Taraba’s Investment Potentials, Advancing Agriculture, Energy, Mining, and Industrialisation for Sustainable Growth and Development,’ was praised by Dangote as timely, given the need for economic diversification and investment attraction in the state.
Dangote emphasized that governments benefit from both private and public investments by creating favorable business environments and collecting taxes.
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He stated, “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 of Nigeria.”
He further argued against government involvement in business, asserting that their revenue should primarily come from taxes to fund public services like education, healthcare, roads, and infrastructure.
“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 explained.
To illustrate his point, Dangote cited the United States: “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.”
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