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Chairman of Dangote Group, Aliko Dangote, has claimed that the government is taking 52 per cent of his company’s income
This highlights the tax burden on Dangote Cement Plc and the challenges of doing business in Nigeria.
Dangote made the statement on Wednesday during a tour of Dangote Fertiliser Limited and the Dangote Petroleum Refinery & Petrochemicals in Ibeju Lekki, Lagos, led by a delegation from the Nigerian Economic Summit Group (NESG).
According to a statement issued by the Senior General Manager, Corporate Communications, Esan Sunday, Dangote emphasized the critical role of the private sector in economic growth and stressed that Nigeria’s challenges could be addressed by creating more employment opportunities.
He criticized Nigeria’s reliance on imports, pointing out that even developed nations like the United States and China protect their local industries from excessive foreign competition.
“The concept of a free market should not be used as an excuse for import dependence,” Dangote stated.
Citing an example, he said, “The President of Benin Republic is a personal friend, and my Ibese plant is just 28km from Benin, yet they refuse to allow imports to protect their local industries, most of which are grinding plants.”
Dangote further claimed that the Nigerian government is taking 52 kobo out of every naira generated by Dangote Cement through taxes and other payments.
“The government stands to gain substantially when the private sector flourishes. However, 52 per cent of our earnings goes to the government,” he stated.
He also lamented the high cost of setting up industries in Nigeria, stressing that private investors are often left to handle infrastructure development, including power, roads, and ports, which should ordinarily be the responsibility of the government.
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