Aliko Dangote, the wealthiest individual in Africa, recently disclosed that the Nigerian government receives 52 kobo out of every N1 generated by his cement company. This revelation was made during the Taraba International Investment Summit 2025 in Jalingo.
During an investment forum, Dangote emphasized the significance of government support for private enterprises. He highlighted that when businesses flourish, the country benefits immensely through tax revenue and job creation. Dangote Cement, the largest cement producer in Africa, operates in more than 10 countries, including Nigeria, Ethiopia, Tanzania, and South Africa, with a production capacity exceeding 51 million metric tons per year. This has contributed to reducing Africa’s dependence on imported cement.
Dangote reiterated his belief that governments should not engage in running businesses but should create a conducive environment for enterprises to thrive. He stated, “Governments don’t have to own businesses to generate income. 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.”
He further emphasized the importance of the private sector in growing the economy and creating wealth. Dangote affirmed his commitment to continue investing in Nigeria, stating, “We are not going anywhere to invest, this is home. We want to remain at home. We want to keep investing in Nigeria. We want to keep creating jobs. At the end of the day, no one will take a dime to the grave. What gives us true satisfaction as human beings is knowing we’ve impacted the lives of others.”
In conclusion, Dangote’s insights shed light on the symbiotic relationship between the government and businesses in driving economic growth and prosperity. His unwavering dedication to investing in Nigeria underscores the potential for sustainable development and positive impact on society.
