THE chairman of Dangote Group, Aliko Dangote, has revealed that the Nigerian Government earned 52 kobo from every N1 sale of cement produced and sold by the Dangote Cement.
He disclosed this at the 2025 Taraba International Investment Summit on Wednesday, May 21.
The summit was themed, “Unlocking Taraba’s Investment Potentials, Advancing Agriculture, Energy, Mining, and Industrialisation for Sustainable Growth and Development.”
Dangote said the summit’s focus was apt, given the need to diversify the state’s economy and attract investors.
“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 one naira we turn around, 52 kobo goes to the Federal Government of Nigeria,” Dangote said.
He pointed out that government would benefit from investments, either private or public, when it creates an environment for them to operate and pay their taxes.
“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.
“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,” the billionaire businessman said.
He maintained that if the government encouraged more investments, the businesses would create jobs.
“It’s true, you are our political leaders. Political leaders will give all sorts of promises. If they give a promise of creating jobs, they don’t have factories.
“They are not in business. They don’t have jobs. I mean, they are not in the business of either industry, banking, or whatever. So, the only way for them to create prosperity and wealth is through the private sector,” Dangote said.
He emphasised private sector as the engine of growth, while stressing the importance of cooperation between the government and the private sector.
He pointed out that the declaration of “Nigeria First” by President Bola Tinubu meant investors would look more inward to invest and create more jobs.
He further assured the Taraba State Governor Kefas Agbu that the Dangote Group would partner with the state to drive investment and wealth creation.
“We will not go anywhere and invest. We want to remain at home. We want to keep investing in Nigeria.
“We want to keep creating jobs. And nobody will take a dime to his grave. So, if nobody will take a dime to his grave, what will give us the satisfaction of even being human beings is to make sure that we impact the lives of other people,” Dangote said.
Adding that the Dangote Group believed in impacting people’s lives by massively creating jobs, he said, “We’ll keep creating jobs, jobs and jobs and jobs.”
Among the dignitaries at the summit are Vice President Kashim Shettima, former Vice President Atiku Abubakar, Sultan of Sokoto Muhammadu Sa’ad Abubakar, Ooni of Ife, Adeyeye Enitan Ogunwusi, Chairman of United Bank for Africa (UBA), Tony Elumelu, and the Catholic Archbishop of Abuja, His Grace, Ignatius Kaigama.