FG Earns More from Cement Sales Than We Do – Dangote
Africa’s richest man, Aliko Dangote, delivered a compelling message at the 2025 Taraba International Investment Summit, revealing that the Nigerian federal government earns more from Dangote Cement than the company itself does.
Speaking to a room filled with investors, policymakers, and business leaders, Dangote said the government receives 52 kobo in revenue for every N1 generated from the production and sale of Dangote Cement — a startling figure that underscores the power of taxation in driving national revenue.
“It might be shocking to you to know that the federal government of Nigeria, not even the state, makes more money from our cement business,” Dangote stated. “For every N1 we turn around, 52 kobo goes to the federal government.”
The industrialist emphasised that both public and private investments thrive only when governments create environments conducive to business growth. He also addressed the long-held belief that governments should stay out of business.
“We always say that the government has no business in business,” Dangote said. “If that’s true, then how do they make money to educate people, build hospitals, roads, and other infrastructure? It’s through taxes.”
Citing global examples, Dangote pointed out that even in highly developed countries like the United States — the world’s largest oil producer — the government doesn’t directly own oil blocks. Instead, it generates revenue through a well-structured taxation system.
“Have you ever heard of the American government owning an oil block? No. But they make their money through taxes,” he noted.
Dangote also stressed the importance of local investment as a foundation for attracting international capital.
“No foreign investor will come into a country if local investors are not thriving,” he warned.
He reaffirmed the Dangote Group’s commitment to Nigeria, pledging continued investments that will create jobs and support local communities.
